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 Q4 2019
Product from North African and Middle Eastern producers arrived in Asia in the fourth quarter, albeit with less volumes compared to previous years. Production issues, problems with loading due to adverse weather conditions and interruptions in raw material transport because of civil unrest and protests affected production in the last quarter. Also, supply from China was low as producers started to focus on the domestic market and were refusing to sell at low prices.
Phosphates buyers in India were active in Q4, with business being agreed in India despite the high stocks in the country and also as demand from Pakistan emerged slowly. Moreover, import demand from Southeast Asia was stable, with DAP tenders from countries like Indonesia and Sri Lanka keeping the market active. A DAP/TSP import tender from Bangladesh absorbed a high volume of product from the market, especially at a time when demand elsewhere was muted.
Phosphates supply to Europe has remained stable in the fourth quarter, as Russian producers focused on traditionally active markets like northern Europe and Russia. Due to a lack of serious import demand from the Americas, north African producers shipped significant volumes to the continent. Also, phosphates producers focused on Europe as buyers started to get ready for spring application and made space in the warehouses for product for next year.
Phosphates buyers in Europe remained in the market through Q4, as stocks in the continent were low during 2019 due to buying being delayed because of adverse weather conditions earlier in the year. Buyers and importers were active in making purchases ahead of spring application before winding down towards the end of the quarter. Demand for processed phosphates was stable in Europe, as application is expected to improve in Q1 and not all requirements are met.
In the US, supply was decreased as market activity was impacted by the early onset of winter weather, which halted further year-end applications and any extra movement of additional volumes. There was less production domestically, and with pricing under pressure there were fewer imports.
Typically demand dwindles during this period, but after extended weather issues and unfinished harvest many farmers did not undertake a significant amount of their normal end-of-year applications. There was less demand present because of lower harvest yields. Crop prices have remained challenged, which increased buyer reluctance.
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