DAP market Update July 2025: Bullish Momentum Holds Globally Except Europe

The Di-Ammonium Phosphate (DAP) markets around the world continued their bullish direction into mid-July, as the constrained supply of raw materials was exacerbated by deliberate DAP restocking and forward buying and reinforced by price increases at key export and import hubs for DAP. From the Midwestern USA to Morocco&#xx;s Atlantic coast and Saudi Arabia&#xx;s strategic ports, DAP producers and traders faced elevated production and logistics costs. Despite the absence of Chinese DAP cargoes, resilient production and strong agronomic demand across major consuming regions continue to sustain bullish DAP momentum.

In the U.S., DAP markets held firm as DEL Illinois prices rose to USD xxx/MT for the week ended xx July, up x.xx. This is the twelfth week in a row of gaining prices, sustained by low availability of feedstock, lower inventories on hand, and the return of wholesale delivery...