The ICIS Phosphates Fertilizers Report is published weekly in Europe. This reliable weekly price report contains price assessments for diammonium phosphate (DAP) in the US Gulf and north Africa, triple superphosphate (TSP) in north Africa and phosphate rock in Morocco. There is also a monthly price forecast and analysis publication, The Outlook: Phosphates, and more intelligence on phosphates can be found in the global coverage of the weekly publication The Market.
These up-to-date and trustworthy publications are an essential business tool to help you make informed decisions.
Updated to Q1 2021
Q1 supply fell, as Chinese producers focused on the domestic season and were out of the market due to the Lunar New Year holidays. Producers increased their offers due to tight availability and shipped product to Latin America and the US where there was some demand. OCP also decreased its phosphates granulation rates for Q1 and focused on phosphoric acid production for India and different grades of NPS for Ethiopia.
Phosphates demand was slow, as it was out of season for India and phosphate requirements had been covered with previous purchases. Also, buyers were waiting for the announcement of the new budget and the annual fertilizer subsidies. Moreover, increases in phosphoric acid and raw material prices have kept buyers out of the market. Also, phosphates buyers in Pakistan were waiting for prices to drop before making purchases.
Producers focused on Europe in Q1 as demand in other regions was lacklustre. Russian producers, in particular, were busy shipping product to the domestic and regional markets at the beginning of the year. Farmers purchased for the upcoming spring application. Supply from Morocco was stable, but GCT in Tunisia had some production issues due to civil unrest and protests that disrupted the transportation of raw material.
Favourable farmer economics for phosphates pushed demand up in Europe in Q1. Also, an increase in prices for major agricultural crops and seasonal demand in most countries resulted in a rise in business and more product was shipped to the continent. Most buyers bought for the application season and focused on raw material business for domestic production. Moreover, weather conditions were favourable for application and that led to an increase in demand.
While domestic production remained consistent, overall supply levels were decreased as imports remained limited due to the countervailing duty investigations. That final ruling was issued during the period and was unfavourable for Morocco and Russia producers. This decision left inventory increasingly tight ahead of the spring season.
In anticipation of large crop plantings, demand rose steadily, especially as concerns climbed over a lack of imports coming in time for the spring. Besides the typical planting surge, the US needs were seen as greater as there were some inputs deferred from the fall due to weather issues post-harvest.
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