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DAP prices in the global market have dropped to $553/t from $640/t in February, after an Indian private company signed a deal with a Saudi company at the lower level. Urea prices have fallen to $315-325/t CFR.
Industry sources cite greater global fertilizer availability and large-scale Chinese exports as the main drivers.
Lower phosphate and nitrogen input costs ease the cost of fertilizer for crop producers, which can support planting economics. Continued Chinese export flows point to ample supply that may keep prices subdued.
eng.ruralvoice.inCodingestMay 1, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
Global DAP benchmark fell to $553/t from $640/t after a large Indian-Saudi deal at lower levels, with more supply and heavy Chinese exports, directly explaining the price drop.
Urea falling to $315-325/t CFR on greater global availability and large Chinese exports shows the bearish supply-driven trend behind the one-day decline, though it was published before the move.
