There is little change regarding negotiations over phosphoric acid contracts for the second quarter between OCP and Indian buyers. Indian buyers are still believed to be targeting around a $100/mt P2O5 decline on the current $715/mt P2O5 CFR contract. They note the recent cut in India's DAP nutrient-based subsidy for 2016-17 and recent declines in the DAP import price while upwards price pressure on ammonia has increased their negotiating power.
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