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Bangladesh awarded a 700,000-tonne DAP tender at USD 585.89-599.42/t CFR, drawing 51 bids totaling 1.9 million tonnes, mostly from China. India raised its DAP import subsidy, but high domestic costs cap its import willingness below current market prices.
Strong South Asian import demand and tight Chinese export supply support higher DAP prices, which raises fertiliser costs for crop producers supplying feed grains.
fdd-global.comLongzhong InformationJun 10, 2021After 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.
The Bangladesh DAP tender cleared at USD 586-599/t CFR and India's high domestic costs capped its willingness to import at current market prices, which suggests buyer resistance and could weigh on DAP prices.
