Pakistan purchases large quantities of DAP, prices remain firm

Although India has not entered the market, the tight supply has kept the price of DAP in the Eastern market firm. From the East to the West, the level of market activity gradually decreases, and there is almost no activity in the American market.

The strong demand and low export supply of DAP in Asia have driven the offshore price of DAP in China to rise again, reaching $575-585 per ton.

Pakistan has surpassed India for the second consecutive week. After buying Saudi DAP at a landed price of $560 per ton last week, buyers have purchased at least 110000 tons of DAP from China, Morocco, and Australia at a price of $600 per ton or more (landed price).

The opening window for the latest private sector tender for DAP in Bangladesh closed this week, with approximately 434000 tons of goods winning the bid. But there are reports that four batches of goods totaling about 150000 tons are striving for credit certificates.

Economic activity in Europe has slowed down, but the scarcity of products has kept prices of DAP firm. A Türkiye importer said that it had purchased 70000 tons of DAP from different origins, which further hindered the supply of other import centers in the region.

Brazil has very little time left before soybean applications for market, and importers who still need goods have found that supply is scarce and procurement is stagnant.

The price of DAP remains firm, while the demand for MAP weakens

Although India has not entered the market, the price of DAP remains firm. To avoid shortages, India must return to the market and increase global demand. The strong domestic demand in China will further affect the supply of the entire Asia. Brazil still has a few weeks to purchase phosphate for soybean cultivation, but buyers will not rush to order goods before the first quarter corn crop is sown.