DAP fob prices arrive at unprecedented $1,000/t

摘要

News of PhosChem's fob sale of a DAP cargo into Latin America today, 6 March at an unprecedented four-figure price and IFFCO/India's tender award to the US supplier at $950/t fob Tampa, reverberated through fertilizer markets. While the Tampa/US Gulf price benchmark averaged out at around $260/t fob for the whole of 2006, it has nearly quadrupled from early January 2007 when it was assessed in the mid $250s/t fob. Other benchmark fob prices such as North Africa and Baltic Sea have also risen in tandem to historic highs at around $900-970/t fob, which has consequently led to soaring delivered prices across the board. Landed costs have also been exacerbated by firm freight rates.