Asia

摘要

CHINA: There is still uncertainty over the tax rates to be applied to exports of DAP/MAP during the upcoming trading window in June-September. Latest feedback from local sources suggest that the country's phosphate industry association is requesting that the 7% tariff only apply to sales above the base price of RMB 3,400/mt for DAP and RMB 2,900/mt for MAP, however the export duty rate is expected to rise gradually in line with higher priced product destined for overseas markets. This is illustrated in the table below against the $570/mt FOB for sales to India netted back on the new delivered price benchmark for the country at $612/mt CFR and price indications at around $600/mt for other regional demand markets such as those in Southeast Asia.