Brazilian MAP prices holding despite surge in P2O5 stocks
After one of the longest Q1 phosacid negotiations in recent memory, current quarter pricing between Morocco’s OCP and its Indian import partners has been agreed with the latest figure up 12% on the Q4 level. While negotiations were underway, global DAP prices rose by 20%.
The latest deal indicates that India has thin confidence in its local DAP/NPK supply position and underlines Morocco’s acid supply-side dominance in India. Indeed, Morocco shipped well over 50% of all Indian acid imports from April through December 2013 (of a total 1.22m. tonnes P2O5).
The news is supportive in the near-term for global DAP and MAP prices, as well as for ammonia and potash. Profercy’s full analysis of the news was provided to subscribers on 9th February 2014. For more information on the Profercy Phosphates and NPKs Service, please click here and register for a free trial.
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