In the starting of Qx April xxxx, the global Di-Ammonium Phosphate (DAP) market saw a strong upward trend, propelled by trade restrictions, tightening supply chains, and robust seasonal demand in major agricultural economies.
Continued export prohibitions, muted local production from maintenance shutdowns, and a government emphasis on storing fertilizers for internal use were the main causes of the steady upward trend. DAP prices in China increased gradually during April, reaching USD xxx/tonne at the end of the month, a x.xx increase. Future DAP pricing is probably going to receive additional support from rising sulfur costs, even though the costs of ammonia and phosphoric acid input mostly steadied in the middle of the month. Due to the suspension of new export offers by Chinese companies, regional markets like Bangladesh, Japan, and India continued to experience limited supply.
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