Planting delays Drop “DAP” prices in the US

Houston, USA: Diammonium phosphate fertilizer prices reversed course this week as demand fell in the United States. The sowing of major US crops has been slowed by lingering chilly weather and damp circumstances. As the price of nitrogen plummeted, fertilizer prices fell in the international market. Prices for nitrogen fertilizer appear to have peaked and are now starting to decline.

Despite rising Upstream Natural gas prices in the regional market, prices dropped due to lower demand from downstream fertilizer producers. DAP (Diammonium Phosphate) prices have dropped by over USD80. Diammonium Phosphate (DAP) prices have plummeted to USD30-USD35 throughout the Corn Belt.

With import demand from Europe failing to improve in the last month, buyers all over the world have opted to hold off on making purchases until a price floor is established. As a result, considerable volumes from the Middle East, North Africa, Nigeria, and Southeast Asia are still accessible for shipping in May and June. This market is intended to attract producers from both the east and west.

Following the revelation of higher-than-expected inflation figures in the United States, global stocks slumped on Thursday. Futures in the United States and oil prices both declined. Chinese authorities' commitment to providing additional assistance to the weakening economy appeared to have little effect.

According to the US Dept Of labour, inflation decreased somewhat in April, falling to 8.3% from 8.5% in March. The figures imply that the consumer price index, or CPI, is nearing high and is likely to relax further. Still, the drop was lower than expected, reinforcing predictions that the Federal Reserve will keep raising interest rates to combat increasing costs.

As per ChemAnalyst, “The prices for diammonium phosphate in the USA have declined this week, owing to the sufficient supplies in the country. Also, the muted demand amidst the delayed season is causing the DAP prices to decline.”