Di Ammonium Phosphate (DAP) Prices: During the Quarter Ending December 2023

North America:

The fourth quarter of 2023 marked an overall bullish trend in the Di Ammonium Phosphate (DAP) market in North America. Scarcity of key feedstock materials such as natural gas and phosphoric acid drove upward pressure on DAP prices. Transportation constraints in the US, including low water levels in the Mississippi River and limited railcar and truck availability, further impacted the market. Buyers' reluctance to make bulk purchases led to a decline in import prices. However, November saw a moderate surge as cost pressures on essential feedstocks like Ammonia and Phosphoric Acid were limited.

The bullish trend in the USA market was primarily attributed to elevated prices of essential feedstocks and a shortage of supplies within the region. Anticipated increases in ammonia and phosphoric acid prices may further elevate DAP prices. The quarter-ending price of DAP DEL Illinois in the USA was USD 563/MT.

Get Real Time Prices of Di Ammonium Phosphate (DAP): https://www.chemanalyst.com/Pricing-data/diammonium-phosphate-dap-1179

APAC:

In the Asia Pacific (APAC) region, the DAP market experienced a bullish trend throughout the fourth quarter of 2023. Compared to the previous quarter, the Chinese market saw a rebound with a 4.36% hike amid supply constraints and high demand. Rising prices of phosphate rock in October exerted upward pressure on DAP prices in China. Delayed production resumptions after the Golden Week holidays led to a material shortage.

November witnessed volatility due to limited product availability globally, factory equipment malfunctions, and partial sales stoppages. Import increases marginally added to cost pressures on DAP prices. The quarter-ending price of DAP FOB Qingdao in China was USD 568/MT.

Europe:

In Europe, the DAP market witnessed a continued uptrend in the fourth quarter of 2023. Scarcity of imported DAP, particularly due to a temporary halt in Ammonia production by Yara and decreased exports from European nations, contributed to supply constraints. Freight charge escalation further fueled bullish sentiments.

Moderate to low domestic demand in Germany, coupled with cautious producer approaches influenced by rising costs and logistical challenges, characterized the market. Energy-intensive facility closures, including Ammonia plants by BASF, impacted supply. Restricted production of Ammonia and its derivatives, including DAP, due to bullish trends in European gas hubs, worsened supply situations. The latest price of DAP in Germany was USD 670/MT.

MEA:

The MEA region saw a bullish to balanced DAP market in the fourth quarter of 2023. Strong demand from international fertilizer markets, limited spot DAP availability, and resumed production activities in leading ammonia and phosphate plants in Saudi Arabia contributed to a moderate to low supply situation. Increased prices of essential feedstocks further elevated DAP prices. However, declining ammonia prices and ample global DAP availability stabilized prices in December. The FOB price of DAP at Jeddah port in Saudi Arabia was USD 590/MT for the quarter.

South America:

In South America, the DAP market witnessed a bullish trend throughout the fourth quarter of 2023. Scarcity of imported supplies due to drought conditions in the Panama Canal and subdued demand from end-user fertilizer markets drove prices up. Brazil experienced significant price increases due to a focus on soybean and corn cultivation, leading to higher fertilizer demand. Costly imports and the suspension of DAP exports from China contributed to rising prices, further exacerbated by currency depreciation against the US Dollar.

Get Real Time Prices of Di Ammonium Phosphate (DAP): https://www.chemanalyst.com/Pricing-data/diammonium-phosphate-dap-1179

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