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Bangladesh's Ministry of Agriculture raised its 2020-21 fertiliser demand estimate after recent floods destroyed Aman and Aus paddy. Urea demand rises from 24.5 to 25.5 lakh tonnes and DAP from 13 to 14 lakh tonnes, to be bought on an emergency basis.
The emergency tender adds roughly one lakh tonnes each of urea and DAP to import demand, which can firm regional prices for both products. The flood-driven replanting makes this extra buying more likely to hold.
tbsnews.netTBS ReportAug 27, 2020After 176 past bullish trade events, UREA moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +2.4%), and +1.6% over 20.
After 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.
Bangladesh raised its DAP demand estimate by 1 lakh tonnes for emergency purchases after floods, adding import demand that can support international DAP prices.
