Despite internal challenges, China&#xx;s Diammonium Phosphate (DAP) market has exhibited relative stability over the past two months. This stability was attributed primarily to government restrictions on DAP exports. While domestic prices remained constant, a significant increase in market activity emerged post-holiday season, leading to a slight rise in buying interest during March. However, these restrictions continued to limit DAP exports, leading to a surplus in the Chinese domestic market. This surplus discouraged significant consumer sentiments as customs clearance for exports remained halted until mid-March.
After the holiday break, the market activity in China has witnessed a clear rebound leading to an opening of more opportunities during this timeframe. However, because of government restrictions that continue to limit DAP exports, more goods were available on the local market, discouraging traders from making large changes because customs clearance for DAP exports remains blocked until at least the end of...
