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India has contracted about 350,000 tonnes of DAP from Russia's PhosAgro for April-July arrival at $920-925/t CFR, below prices paid by other countries. The deals come amid Western sanctions on Russia after its invasion of Ukraine.
Discounted Russian DAP sets a lower price benchmark that could pressure Moroccan, Chinese and Saudi suppliers to cut prices, easing phosphate costs for feed mineral buyers.
indianexpress.comHarish DamodaranJun 29, 2022After 40 past bearish trade events, DAP moved a median -0.1% over 5 sessions (38% higher; middle half -3.7% to +0.5%), and -2.4% 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.
