The Outlook Phosphates Prices, markets & analysis
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- 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
Updated to Q3 2014
The attention of the phosphates market will be on India in Q3, where market players are waiting to see the amount of DAP demand that will arise following the monsoon season.
There were expectations for 4.5m-5m tonnes of imports earlier this year, but market players have cautioned that demand from India will be lower than previous years and these levels have dropped to below 4m tonnes due to the lower than expected rain levels. Also, so far 1m-1.2m tonnes of DAP have been bought for arrival through July.
Discussions for phosphoric acid contracts for Q3 deliveries are taking place at the moment in India, with producers asking for price increases. Discussions for phosphate rock quarterly contracts are expected to follow the acid negotiations.
China, on the other hand, has sold less than expected DAP volumes to India since the opening of the low export tax window in mid-May. Producers have been selling DAP to other markets, like the US, Bangladesh and Pakistan, or have focused on MAP 11.44 and 10.50 business.
On the production front, most producers are sold out for July in North Africa, the US and Russia and availability is tight. However, OCP is understood to commission the first of four new DAP/MAP, NP/NPK units in Q3 2014, with the remaining expected in 2015.
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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.