In India some modest weakening of demand and lower DAP/NPK selling prices have led to a recent decline in the low-end of spot phosphate rock prices for 65-70% BPL product from Egypt to $68-70/mt CFR, according to market sources. The decline follows news that Zed Trading DMCC with product from Egypt's El Nasr offered the lowest price of $53.99/mt CFR in RCF's recent tender in India for 2x30,000 mt (minimum 63% BPL) phosphate rock and reports of other spot sales to India in the $55-60/mt CFR range for 60-63% BPL rock from Egypt.
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