DAP (diammonium phosphate) prices have made significant progress so far this year, with prices reaching their all-time high in the week ended August 24. Last week, which ended August 31, prices at the locations we’ll look at below were mixed. Three locations saw flat price movements, three experienced a decline, and only one gained. Let’s look at each of these locations (MOO) below.
The price for DAP in the NOLA (New Orleans) region of the United States was the only one to gain last week, rising 97 basis points to $377 per metric ton. Prices in the Tampa and Central Florida locations remained unchanged at $438 per metric ton and $372 per metric ton, respectively, over the same period. In Morocco, DAP prices remained unchanged at $447 per metric ton week-over-week ending August 31.
In contrast to these locations, prices last week in Saudi Arabia declined week-over-week by 24 basis points to $424 per metric ton. In China, prices fell 24 basis points. In India, prices fell to $416 per metric ton, and DAP prices declined 23 basis points to $429 per metric ton. Mosaic (MOS), Israel Chemicals (ICL), Nutrien (NTR), and Intrepid Potash (IPI) are affected negatively by falling prices.
Year-over-year, prices at each of the seven locations remained strong last week. For example, in Tampa, NOLA, and Central Florida, DAP prices rose 30%, 29%, and 24% year-over-year, respectively. In Morocco, prices rose 29% year-over-year. In Saudi Arabia and China, prices rose 21% each, and in India, prices rose 20% year-over-year.
Next, let’s look at MAP prices.
Potash prices, similar to the prices of nitrogen and phosphate, continued to gain momentum in the week ended August 31.
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