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 Q2 2021
Asia
Export supply was strong in Q2, as domestic demand for the season ended and phosphates producers focused on exports. Production rates at domestic DAP/MAP plants were normal and producers increased DAP export offer prices due to the tight availability in the country. Availability from other producing countries such as Saudi Arabia, Morocco and Jordan, was also stable.
Demand was strong, especially in India. DAP buyers were in the market to buy cargoes ahead of the monsoon season in the summer. Also, constant increases in the quarterly phosphoric acid price in India led more buyers to import DAP rather than produce it domestically. Moreover, DAP buyers in Pakistan made purchases and demand was strong in the country, especially for product from China, Saudi Arabia, Morocco and Australia.
Europe
Producers focused on Europe in Q2 as demand slowed elsewhere. Russian producers in particular shipped product to domestic and regional markets to satisfy seasonal demand before the slowdown of the summer. There were also low levels of carry-over stocks in Europe, so producers focused on this market too as freight rates for transatlantic routes rose.
Demand in Q2 was strong, driven by seasonal requirements for cargoes. Moreover, favourable agricultural economics for phosphates supported demand, as farmers prepared for application. Some adverse weather during the quarter quickly improved and did not hinder phosphates demand much. Also, farmers made purchases before demand slowed down in the summer. Buyers in most regions were in the market to make purchases as Q1 had been slow.
US
Supply remained constant during the quarter, with domestic production uninterrupted. As the market continues to see less international supply relief with imports reduced, the amount of available phosphate was tight at points during the period, especially as the spring plantings advanced.
As US farmers plant significant acreage over the quarter, demand steadily climbed higher. Growers were encouraged to maximise inputs as crop prices have been favourable. This uptick came despite supply constraints seen during the period.
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