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PhosAgro reported 1Q17 operational results, with downstream fertilizer production up 2.4% year-on-year to 1.96 million tonnes. Phosphate-based output rose 3.8%, while nitrogen-based output fell 3.0%.
Sales of NPK/NPS products grew about 15% year-on-year, outpacing DAP/MAP.
Stronger demand for complex NPK fertilizers and steady phosphate output from a major producer add modest supply to phosphate markets, a mild bearish signal for phosphate input prices.
worldfertilizer.comAngharad LockMay 4, 2017After 38 past neutral report events, DAP moved a median +0.5% over 5 sessions (61% higher; middle half -0.5% to +1.6%), and +3.9% over 20.
After 26 past neutral report events, Urea moved a median -0.4% over 5 sessions (42% higher; middle half -4.1% to +1.5%), and +0.9% 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.
