The global DAP/MAP price rally took a breath this week with prices largely unchanged despite market participants agreeing $162/t rises in Q3 phosphoric acid contracts. On 5 July, OCP confirmed its phosacid contracts with Indian buyers at $1,160/t CFR, with contracts in Europe and Brazil also rising by $162/t CFR. The India deal marked the sixth consecutive quarterly increase from a low of $590/t CFR in Q1 2020, up $570/t (97%) in the last 18 months.
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