Loading…
Newly imposed US import tariffs of at least 10pc on non-North American phosphate are deterring vessels from Nola and lifting MAP prices. The Nola MAP price averaged a $5.75/st premium to DAP for April so far, after trading at a discount in March.
Market participants expect the MAP premium to widen as fall application season approaches.
Tariffs cut import supply into the US and restore a MAP premium, which tightens the phosphate market and raises costs for growers. Price strength may persist through fall application season.
argusmedia.comTaylor ZavalaMar 25, 2024After 193 past bullish trade events, DAP moved a median +0.4% over 5 sessions (54% higher; middle half -0.3% to +1.8%), and +1.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
