The Outlook Phosphates Prices, markets & analysis
ICIS pricing also provides authoritative price forecasts for the fertilizer industry. The Outlook offers:
- Individual monthly reports on ammonia, nitrogen and phosphates
- Price forecasts for the coming 12 months
- Full and detailed analysis of the supply/demand outlook
- All major supply areas and markets covered
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The Outlook Phosphates: Market overview
The phosphates market is gearing up for the second quarter, following a month of lacklustre activity. Indian demand has been subdued since the beginning of the year and is expected to resume in the second quarter.
This is expected to coincide with the opening of the low export tax window in China in mid-May, where the bulk of the imports is estimated to come from. Other diammonium phosphate (DAP) tonnes are expected to arrive from Jordan and Saudi Arabia.
Indian subsidies have remained unchanged this year and India is estimated to import about 4.5m-5m tonnes of DAP for 2014 compared with 3.3m tonnes last year following a good monsoon season.
Phosphoric acid negotiations for Q2 deliveries to India are underway, with buyers expecting a rollover or a slight increase from $680/tonne CFR (cost & freight) in the first quarter.
On the production front, North African producers have been facing logistical issues in the first quarter. There have been delays in shipments, especially in Morocco, due to adverse weather in February at the Jorf Lasfar and Safi ports. However, these have been resolved and production is said to have ramped up.
Updated to mid-April 2014
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The Outlook Phosphates news & analysis
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About The Outlook Phosphates
DAP (Diammonium Phosphate), MAP (Monoammonium Phosphate) and TSP (Triple superphosphate) are the most commonly traded phosphate fertilizers.
DAP is produced by combining phosphoric acid with ammonia. It contains 18% nitrogen and 46% phosphorus pentoxide. It is widely produced in granular form for direct application as a fertilizer or for blending with other types of fertilizers, and in the non granular form for use in liquid fertilizers. It is stored and transported as a solid at ambient temperatures.
MAP is also produced by combining phosphoric acid and ammonia. The most common grade for MAP is 11% nitrogen and 52% phosphorus pentoxide. MAP is widely produced in granular form for direct application as a fertilizer or in bulk blending of dry fertilizers. The compound is also a component of some dry powder fire extinguishers. It is stored and transported as a solid at ambient temperatures.
TSP is made by reacting wet-process phosphoric acid with phosphate rock. Typically it contains 46% P2O5. TSP is produced in granular and non-granular form and is used both in fertilizer blends (with potassium and nitrogen fertilizers) and by itself.
DAP is the most widely-produced phosphate fertilizer. Production amounts to more than 20m. tonnes a year, of which about 12m. tonnes are traded internationally. It is produced in around 20 countries worldwide and consumed in every developed agricultural market. The largest producers are US, Chinese and Indian companies, who have massive domestic markets to serve. The main exporters are producers in the US, Morocco, Tunisia, Jordan, Russia, Lithuania, Australia and China.
MAP production amounts to about 13m. tonnes a year, of which about 7-8m. tonnes are traded internationally. It is produced in around 10 countries. The largest producers are US, Chinese and Russian companies, who have large domestic markets to serve. The main exporters are producers in the US, Russia, and Morocco and the main import market is Brazil.
TSP production amounts to around 5m. tonnes a year, of which around 4m. tonnes are traded internationally. It is produced in about 10 countries. The largest producers and exporters are Chinese, Tunisian, Moroccan, Israeli, Bulgarian and Egyptian companies. The main consuming countries are Brazil, Bangladesh, Iran the US and northwest Europe.