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Towards the middle of September ****, there was a shift in the global Di Ammonium Phosphate (DAP) market towards softness because demand signals in Asia weakened while inventories in the primary importing regions were at satisfactory levels. Producers faced steady activity in procurement, but cautious procurement conditions limited any momentum in markets. Freight markets provided minimal support to positive buying conditions. Supply chain conditions were also negatively impacted by regulatory concerns in China, tender delays in Bangladesh, and steady agricultural buying activities in Brazil. Together, these issues shaped the week in trade. The DAP market in general was fragile, and suppliers balanced international demand low against a locally hot domestic space.
In China, FOB Qingdao DAP prices fell marginally lower, as export interest slowed. The government**;s mid-October approval for DAP exports became a burden for trade, and contributed to port congestion, and the domestic DAP price remained...
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