For the Quarter Ending September 2025
North America
• In USA, the Phosphoric Acid Price Index rose by 1.25% quarter-over-quarter, reflecting disciplined supplier pricing.
• The average Phosphoric Acid price for the quarter was approximately USD 996.67/MT DEL-Florida, per regional reporting.
• Phosphoric Acid Spot Price remained subdued as inland logistics and muted downstream buying limited volumes.
• Phosphoric Acid Price Forecast shows upside risks amid autumn fertilizer restocking and constrained import availability.
• Phosphoric Acid Production Cost Trend was neutral as stable Sulphur and energy inputs restrained pass-throughs.
• Phosphoric Acid Demand Outlook remains weak with farmer affordability pressures and pre-covered fall fertilizer positions.
• Phosphoric Acid Price Index stability reflected balanced inventories, muted export inquiries, and steady domestic rates.
• Major producers operated at normal rates, while inventory discipline and cautious export demand limited acceleration.
Why did the price of Phosphoric Acid change in September 2025 in North America?
• Domestic supply relied on steady production, while import restrictions reduced downstream material flexibility, tempering buying.
• Stable Sulphur and energy costs restrained cost pressures, while rail congestion and holiday slowdowns affected deliveries.
• Muting downstream DAP/MAP demand and pre-covered contracts reduced spot procurement, keeping price movements limited overall.
APAC
• In South Korea, the Phosphoric Acid Price Index rose by 0.75% quarter-over-quarter, reflecting tighter Chinese exports.
• The average Phosphoric Acid price for the quarter was approximately USD 987.00/MT CFR-Busan, reflecting stable import flows.
• Phosphoric Acid Spot Price showed limited volatility amid steady import flows and balanced consumer demand.
• Phosphoric Acid Price Forecast indicates upside risks driven by seasonal restocking and constrained export volumes.
• Phosphoric Acid Production Cost Trend remains under pressure from elevated yellow phosphorus feedstock and freight.
• Phosphoric Acid Demand Outlook stays stable for food and industrial sectors, supporting offtake and procurement.
• Phosphoric Acid Price Index movements were modest, constrained by port operations and cautious distributor behaviour.
• Inventory and export demand impacts remained contained as importers frontloaded shipments ahead of Chuseok disruptions.
Why did the price of Phosphoric Acid change in September 2025 in APAC?
• Chinese export discipline and reduced PPA output tightened physical availability, prompting Korean buyers to restock.
• Elevated yellow phosphorus feedstock costs increased replacement cost pressure on producers, supporting firmer landed pricing.
• Logistics stability reduced volatility, while procurement caution around Chuseok generated temporary demand timing imbalances locally.
Europe
• In Germany, the Phosphoric Acid Price Index rose by 12.58% quarter-over-quarter, reflecting supplier buildup and seasonal fertilizer demand.
• The average Phosphoric Acid price for the quarter was approximately USD 1241/MT FD-Hamburg, supported by steady imports and contract volumes.
• Phosphoric Acid Spot Price remained range bound as distributors prioritized contract coverage over opportunistic buying activity.
• Phosphoric Acid Price Forecast indicates upside risk from freight surcharges and seasonal fertilizer application demands.
• Phosphoric Acid Production Cost Trend eased as sulphuric volumes increased, lowering upstream cost pressure industrywide.
• Phosphoric Acid Demand Outlook remains cautious fertilizer blenders draw volumes while industrial demand stays muted.
• Phosphoric Acid Price Index volatility moderated due to steady Moroccan shipments and disciplined seller pricing.
• Terminal inventories remained comfortable, limiting spot tightness while scheduled exports ensured availability and market equilibrium.
Why did the price of Phosphoric Acid change in September 2025 in Europe?
• Seasonal fertilizer buying and supplier long-build increased procurement demand, pushing prices higher in September 2025
• Import continuity from Morocco eased supply concerns, while freight surcharges and transport premiums raised costs
• Stable feedstock costs and routine plant run rates maintained output, while buyer caution limited spot purchasing
MEA
• In Morocco, the Phosphoric Acid Price Index rose by 2.57% quarter-over-quarter, reflecting steady export demand conditions.
• The average Phosphoric Acid price for the quarter was approximately USD 931.00/MT FOB-Casablanca and remained range-bound throughout.
• Phosphoric Acid Spot Price showed limited weekly movement, with FOB Casablanca holding steady amid balanced supply.
• Phosphoric Acid Price Forecast indicates modest upward risk near-term, driven by sustained fertilizer trade into India.
• Phosphoric Acid Production Cost Trend remained flat as sulphur availability and electricity tariffs exerted cost pressure.
• Phosphoric Acid Demand Outlook is constructive for autumn sowing, supporting fertilizer-grade offtake and consistent domestic blending.
• Inventory accumulation and recent cargoes increased availability, tempering Phosphoric Acid Price Index upward momentum into September.
• Operational reliability at Jorf Lasfar and debottlenecking modules kept volumes firm, supporting steady export-focused pricing momentum.
• Logistical smoothness and lack of outages prevented disruption, keeping the Phosphoric Acid Price Index relatively muted.
Why did the price of Phosphoric Acid change in September 2025 in MEA?
• Improved export demand and steady fertilizer purchasing increased offtake, pushing quarter-end pricing modestly higher in September.
• Abundant upstream supply, debottlenecked capacity and high inventories contrasted demand, creating downward pressure during late September.
• Smooth port operations and uninterrupted sulphur inflows limited cost shocks, stabilizing market and price movements thereby.
For the Quarter Ending June 2025
North America (USA)
• The Spot Price for Phosphoric Acid in the US declined 1.0% Q-o-Q in Q2 2025, reflecting a softer Price Index and tepid buying sentiment.
• Supply remained sufficient, with steady domestic production and modest import inflows maintaining balance across the region.
• Production Cost Trend eased slightly as Ammonia prices stabilized and logistical costs moderated.
• The Demand Outlook was muted, with subdued activity in agrochemical blending and reduced industrial applications during the quarter.
• Weak export demand and cautious procurement by domestic formulators limited any potential upside in pricing during Q2.
Why did the price of Phosphoric Acid change in July 2025 in the US?
• Phosphoric Acid prices stable in July 2025, aided by modest restocking from downstream agrochemical manufacturers.
• Producers kept offers stable, supported by stable raw material costs amid tightening warehouse space.
• Seasonal planning in fertilizers prompted buyers to re-enter the market ahead of fall applications.
• Logistical normalization across the Gulf helped improve delivery efficiency, prompting selective price stability by suppliers.
Europe
• The Spot Price in Europe rose by approximately 3.6% Q-o-Q in Q2 2025, driven by persistent procurement and limited import competition.
• Supply conditions remained slightly strained as Middle Eastern cargoes faced port clearance delays, tightening availability.
• The Production Cost Trend increased marginally due to higher energy charges and stronger sulphur input values.
• The Demand Outlook was constructive, with solid performance from food-grade and industrial phosphates sectors.
• A firmer Euro and rebounding regional manufacturing sentiment added pricing leverage for local suppliers.
Why did the price of Phosphoric Acid change in July 2025 in Europe?
• Phosphoric Acid prices climbed further in July 2025, reflecting elevated supplier confidence amid limited overseas inflows.
• Buyers sought to secure volumes early, fearing further logistical disruptions in Q3.
• Firm upstream Sulphuric Acid values and cautious export allocations from key origins supported a bullish tone.
• Stable regional consumption in food processing and detergents allowed suppliers to maintain higher offer levels.
APAC
• The Spot Price of Phosphoric Acid remained largely stable Q-o-Q in Q2 2025, with consistent trade activity across major hubs.
• The Production Cost Trend stayed rangebound amid soft phosphate rock and sulphur prices.
• The Demand Outlook was balanced, with steady interest from fertilizer blenders and detergent manufacturers.
• Competitive pricing among regional suppliers kept the overall market tone neutral.
Why did the price of Phosphoric Acid change in July 2025 in APAC?
• Phosphoric Acid prices remained stable in July 2025, supported by a balance between supply availability and steady procurement.
• Minor fluctuations in import prices were absorbed by traders, maintaining a narrow price band.
• Ongoing negotiations for long-term contracts capped speculative buying, keeping pricing discipline intact.
• Despite modest pressure from upstream logistics, no major supply shocks were observed, supporting a stable outlook.
Middle East & Africa
• Phosphoric Acid prices rose by 1.6% QoQ in Q2 2025, supported by seasonal demand from fertilizer producers and reduced regional inventories.
• The upstream cost environment remained steady; however, firm demand from the agrochemical segment encouraged upward price adjustments across the region.
• Procurement activity picked up in April and May, driven by restocking from key buyers from Morocco towards India and Pakistan.
• Suppliers focused on strategic shipments and margin preservation, keeping prices elevated despite minimal change in production or freight dynamics.
Why did the price of Phosphoric Acid change in July 2025 in MEA?
• Phosphoric Acid prices remained stable in the MEA region, with suppliers maintaining offers as seasonal demand persisted and buyers continued cautious inventory management.
• Export volumes to South Asia and Africa remained firm, yet balanced regional availability prevented upward pressure on local spot offers from North African producers.
• Despite limited competition, stable feedstock trends and measured contract negotiations led sellers to prioritize market share over short-term gains.
• The agrochemical sector continued to show resilience, with steady demand for fertilizer blending and phosphate-based formulations supporting price consistency across key consumption zones.
For the Quarter Ending March 2025
North America
Phosphoric acid prices in the U.S. have seen a slight quarter-over-quarter increase, driven by a balance between stable supply conditions and moderate demand growth. Throughout the quarter, supply remained consistent despite ongoing logistical challenges, including port congestion and freight delays. However, manufacturers, including key players like Mosaic, managed production schedules effectively, ensuring product availability during periods of peak demand, particularly as the spring planting season approached.
Demand saw a gradual uptick as agricultural activities ramped up, particularly for crops such as corn and soybeans, which require phosphorus-based fertilizers. The early preparations for the planting season in the U.S. contributed to steady demand, with farmers and distributors securing materials in anticipation of higher consumption in the coming months.
Despite some pressure on supply chains, including rising logistics costs and potential tariffs, the market experienced minimal disruption. This allowed suppliers to maintain a steady flow of phosphoric acid, aligning with the needs of the agricultural sector. While the fertilizer market showed signs of growth, the overall market sentiment remained cautious, anticipating continued stability without major fluctuations in the near term.
APAC
In the first quarter of 2025, the phosphoric acid market in China saw a slight decline in prices, reflecting a 1.59% decrease compared to the previous quarter. This trend was primarily driven by moderate fluctuations in supply and demand dynamics. The market experienced stability in the early part of the quarter, supported by steady manufacturing activities and cautious demand from downstream sectors. However, challenges such as limited availability of upstream yellow phosphorus and port congestion in key Asian hubs contributed to cost pressures, which eventually led to price increases early in the quarter. Despite these factors, the demand for phosphoric acid remained relatively subdued, with cautious buyer sentiment prevailing across key sectors, including fertilizers and food processing. While agricultural activity supported a steady demand for fertilizers, the overall market sentiment was influenced by broader economic uncertainties, leading to restrained purchasing behavior. As the quarter progressed, suppliers adopted cautious inventory management strategies, preventing oversupply and maintaining a balance between supply and demand. Overall, the market's minor decline in prices can be attributed to the combination of moderate supply levels, seasonal demand adjustments, and logistical challenges. Despite fluctuations, the market maintained relative stability, with prices remaining under control barring any significant supply disruptions or shifts in demand.
Europe
The European Phosphoric Acid market experienced a slight decline in prices over the first quarter of 2025, with a 0.99% decrease compared to the previous quarter. This reduction in pricing was primarily driven by stable supply levels, which were supported by consistent imports from Morocco despite ongoing logistical challenges. Importantly, the steady availability of product ensured minimal disruptions, and manufacturers maintained balanced inventories.
From a manufacturing perspective, European producers managed to navigate operational setbacks, including port congestion and labor disputes at key hubs such as Hamburg and Antwerp. While these disruptions posed some logistical challenges, they did not significantly impact the flow of phosphoric acid. Reduced freight rates helped to offset some of the transportation costs, though ongoing port strikes and labor tensions continued to affect delivery schedules.
Demand remained consistent, driven mainly by the fertilizer sector, particularly in preparation for the spring planting season. However, caution prevailed among agricultural buyers due to concerns over rising input costs and potential import tariffs on Russian fertilizers. This cautious sentiment contributed to a steady but restrained demand for phosphoric acid. Overall, the market's slight price decline was a result of stable supply, coupled with moderate demand conditions, reflecting the ongoing challenges in the broader economic environment.
MEA
In the first quarter of 2025, the phosphoric acid market in Morocco experienced a modest decline in prices compared to the previous quarter. This decrease was driven by a combination of factors, including steady domestic demand and consistent export activity, which helped maintain overall supply levels. The local agricultural sector, particularly in preparation for the winter wheat planting season, showed stable demand, while exports remained strong, especially to key markets in India, Pakistan, and the EU. Despite seasonal fluctuations, export volumes from Jorf Lasfar continued to perform well, with an increase in shipments compared to the same period last year. However, global demand for phosphoric acid remained somewhat subdued, reflecting cautious purchasing behavior from overseas markets due to slower fertilizer application cycles. This moderated demand combined with a stable supply chain from domestic producers helped prevent significant price hikes. The overall market conditions were characterized by reliable supplier performance and smooth export operations, ensuring sufficient availability of phosphoric acid for both local and international needs. Though the market saw a slight decrease in prices, the supply-demand dynamics remained balanced, and the outlook for the coming months is expected to remain stable with no major disruptions anticipated.
For the Quarter Ending December 2024
North America
In the past quarter, the U.S. phosphoric acid market witnessed a slight decline of 0.74% compared to the previous period, largely due to stable supply and demand dynamics. Phosphoric acid supply remained steady with consistent production levels, supported by adequate raw material availability, including phosphate rocks.
Manufacturers, while facing flat demand across various sectors, adjusted their output to maintain market balance, preventing any significant fluctuations in pricing. Despite challenges such as labor shortages and transportation delays impacting delivery times, the market experienced smooth operations in port facilities, ensuring efficient supply chain management.
On the demand side, agricultural sectors, particularly fertilizer production, sustained stable demand, driven by the ongoing crop fertilization mid-season. However, overseas demand showed signs of weakening due to lower agricultural outputs in major export markets like Mexico and Brazil, which may dampen global demand. The continued challenges in global phosphate supply, including Chinese export restrictions and U.S. production disruptions, contributed to a tight market, but the overall market balance was maintained. Manufacturers, cautious about inventory management, adjusted production levels in response to reduced purchasing activity and market uncertainty.
APAC
Over the past quarter, the phosphoric acid market in China has shown a notable 5.58% increase, driven by a series of strategic supply and demand factors. The market dynamics were primarily influenced by a balanced supply chain and cautious downstream buying behavior, despite some fluctuations in feedstock prices and manufacturing activities. The recovery in the phosphate fertilizer sector, particularly in the production of monoammonium phosphate (MAP) and diammonium phosphate (DAP), helped stabilize the market. Increased demand from the new energy sector, driven by the rise in new energy vehicle production, further supported the overall consumption of phosphoric acid. Manufacturers focused on maintaining stable production levels and ensuring adequate supply, even as export activities remained somewhat restrained. The tightening of phosphate exports by China in an effort to secure domestic supply added to the upward pressure, reflecting a measured approach to market stability. Additionally, despite some resistance from downstream buyers due to high costs, the sustained demand from key industries such as fertilizers and new energy helped maintain market resilience.
Europe
In the European Phosphoric Acid market, the fourth quarter of 2024 witnessed a slight decline of 4.04% from the previous quarter, attributed to a combination of factors impacting supply and demand dynamics. Manufacturing activity remained stable, with consistent production and steady imports from key exporters, such as Morocco. However, the market saw a reduction in inventory levels as a result of cautious purchasing behavior, with buyers opting for more moderate procurement strategies. This restrained approach was driven by weak demand, particularly from the fertilizer sector, where lower consumption of DAP and MAP fertilizers led to procurement challenges. In addition, the broader economic climate in Europe, marked by a drop in consumer confidence and subdued industrial activity, contributed to the tempered demand for Phosphoric Acid. While supply levels remained adequate, inventory reductions were noted across both pre-production and production stages. Despite this, the overall market exhibited a balanced supply-demand ratio, with suppliers managing disruptions effectively and improving delivery times. The decline in demand, coupled with cautious market sentiment, especially from the agriculture and industrial sectors, was the primary factor influencing the downward trend.
MEA
In the fourth quarter of 2024, Phosphoric Acid prices in Morocco experienced a 4.57% decrease from the previous quarter, primarily driven by several factors affecting the market dynamics. Despite stable supply levels, with consistent production and export activities from key manufacturers like OCP Morocco, the demand for Phosphoric Acid showed signs of moderation. Global demand for Di-Ammonium Phosphate (DAP) and Mono-Ammonium Phosphate (MAP) remained flat, particularly in key overseas markets such as India, which dampened overall consumption. While the agriculture and food processing sectors in Morocco showed stability, reduced export activity, especially in DAP, contributed to lower demand. Manufacturing conditions remained steady, with suppliers maintaining efficient operations and managing production volumes to align with current demand. The significant export volumes from Morocco, including key shipments to Pakistan, Belgium, and other regions, helped sustain supply, but global supply chain constraints and limited high-end consumption in the last quarter of 2024 reduced upward price pressures. Furthermore, mixed feedstock dynamics, with Sulphuric Acid prices on the rise and phosphate rock prices remaining stable, added to the overall cost pressures in the production process. While the sector remained generally positive, the ongoing global supply limitations and shifts in regional demand patterns played a crucial role in the witnessed market prices during this period.
