India DAP surges higher as market seeks NBS support

摘要

West of Suez DAP/MAP price gains have slowed somewhat in recent weeks while India DAP prices surged this week as suppliers attempt to close a record India versus west of Suez DAP/MAP spread. Highly supportive crop prices, limited export supply and Mosaic’s US duty petition against Moroccan/Russian phosphates supported a vast jump in west of Suez DAP/MAP prices through the first quarter 2021. In the last ten weeks alone, US DAP/MAP prices have now gained $145-150/st, European DAP prices are up $170-175/t and Latin American DAP/MAP prices rocketed up $220/t.