In recent June ****, the international Diammonium Phosphate (DAP) fertilizer market is advancing sharply, powered by China and Morocco once again both being double engines of the latest bullish development. Supply prices at origin are firmed and importers in Asia, Europe, and the Americas will be increasing their buying to avoid cost creep and headaches in seasonality.
In China, the upswing continues with the DAP FOB price in Qingdao rising *.*** to USD ***/tonne, with sizeable buying by India, Japan, and Bangladesh. Chinese traders are finding higher margins exporting than selling domestically, which is pressuring already low inventories at the ports for export. Further, the number of ships waiting to load at the ports of Shanghai-Ningbo, and Qingdao increased significantly this week, adding significant congestion to an already busy port during peak demand. While DAP stocks are being cleared quickly, and...
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