PhosChem's agreement with IPL of India for the supply of 1m tonnes of DAP to be delivered from March 2008 to March 2009 at a market-indexed price, has raised further concerns among importers of DAP that the supply-demand balance will continue to tighten - perhaps to critical levels - and that price stability is therefore nowhere near the horizon. Meanwhile, it is anticipated that China, where exports rose fourfold to 1.93m tonnes in 2007 compared with 2006, will raise its export tariff for DAP/MAP from 20% to 35% imminently.
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