For the Quarter Ending December 2025
North America
• In the USA, the Rock Phosphate Price Index remained largely stable in December 2025, reflecting steady imports and moderate domestic demand.
• Rock Phosphate Spot Price activity was muted as distributors relied on existing inventories, limiting short-term volatility.
• Rock Phosphate Demand Outlook indicates cautious pre-planting purchases in key Corn Belt states, underpinning a conservative Price Forecast.
• Rock Phosphate Production Cost Trend remained subdued, with minimal freight disruptions and stable rail and port tariffs.
• Rock Phosphate Price Index stability reflected sufficient warehouse stocks and balanced import arrivals, reducing spot urgency.
• Domestic acid units and processing facilities operated near normal capacity, moderating enquiries and tempering spot price movements.
• Export logistics remained smooth, supporting predictable availability for limited US exports.
Why did the price of Rock Phosphate change in December 2025 in the USA?
• Balanced import arrivals and ample distributor inventories reduced spot buying, limiting immediate price increases.
• Seasonal pre-planting activity remained modest, weakening domestic demand and keeping price pressures in check.
• Stable freight, energy, and handling costs prevented production-driven price movements, supporting index stability.
APAC
• In Indonesia, the Rock Phosphate Price Index fell by 3.02% quarter-over-quarter, reflecting subdued seasonal buying.
• The average Rock Phosphate price for the quarter was approximately USD 150.00/MT, supported by imports.
• Rock Phosphate Spot Price remained muted while distributor inventory draws kept the Price Index stable.
• Rock Phosphate Demand Outlook shows moderate pre-planting purchasing and underpins conservative Rock Phosphate Price Forecast.
• Rock Phosphate Production Cost Trend subdued as minimal freight and currency shifts limited cost pressures.
• Rock Phosphate Price Index stability reflected ample warehouse stocks and import arrivals, reducing spot urgency.
• Domestic acid units operated near nameplate capacity, moderating enquiries, tempering Rock Phosphate Spot Price volatility.
• Export logistics remained smooth, so Rabi procurement will tighten availability and inform the Price Forecast.
Why did the price of Rock Phosphate change in December 2025 in APAC?
• Balanced import arrivals and ample distributor inventories reduced spot buying, easing price pressure in December.
• Subdued agricultural activity ahead of main planting limited procurement, weakening domestic demand during December period.
• Minimal freight and currency movement kept landed costs stable, preventing significant production cost-driven price increases.
Europe
• In Europe, the Rock Phosphate Price Index eased slightly by 2.10% month-on-month in December 2025, reflecting lower seasonal demand in northern and western regions.
• The average Rock Phosphate price for the period was approximately USD 160.00/MT, supported by steady supply from Morocco and Tunisia.
• Rock Phosphate Spot Price activity remained muted as buyers largely relied on contracted cargoes, limiting short-term volatility.
• Rock Phosphate Demand Outlook shows moderate pre-sowing purchasing in Spain, France, and Germany, supporting a sideways Price Forecast.
• Rock Phosphate Production Cost Trend remained stable as port handling charges and inland freight costs saw minimal fluctuation.
• Rock Phosphate Price Index stability reflected balanced inventories at major European ports, reducing the need for spot adjustments.
• Domestic acid and fertilizer units operated at near-nameplate capacity, keeping enquiries steady and preventing price spikes.
• Export logistics, particularly Mediterranean shipping, remained predictable, supporting orderly trade.
Why did the price of Rock Phosphate change in December 2025 in Europe?
• Adequate port stocks and steady imports minimized the need for spot purchases, limiting upward price pressure.
• Slower agricultural activity ahead of the main planting season reduced immediate domestic demand.
• Stable production and logistics costs ensured that no sudden cost-driven price changes occurred.
MEA
• In Egypt, the Rock Phosphate Price Index fell by 1.99% quarter-over-quarter, reflecting softer global demand.
• The average Rock Phosphate price for the quarter was approximately USD 115.00/MT, reflecting steady FOB Safaga levels.
• Rock Phosphate Spot Price activity remained subdued as buyers honoured contracts, limiting spot tender volumes and volatility.
• Rock Phosphate Price Forecast models suggest near-term sideways movement given balanced supply and moderate seasonal demand recovery expectations.
• Rock Phosphate Production Cost Trend showed stability as diesel and electricity tariffs held steady, preserving producer cash costs.
• Rock Phosphate Demand Outlook remains steady with contracted purchases from India and Türkiye offsetting weaker spot interest.
• Inventory buffers at Safaga supported the Rock Phosphate Price Index, preventing precipitous moves amid measured export volumes.
• Producers maintained steady mining rates and efficient port logistics, supporting orderly trade and predictable exportable availability.
Why did the price of Rock Phosphate change in December 2025 in MEA?
• Balanced supply from steady mine output and smooth rail deliveries kept export availability adequate, limiting upward price pressure.
• Weak spot inquiries from India and Türkiye, as buyers relied on contracted cargoes, reduced immediate demand pull.
• Stable input costs, efficient port operations, and disciplined supplier releases prevented sudden discounts or supply-driven volatility.
For the Quarter Ending March 2025
North America
• The Rock Phosphate Price Index in North American region remained stable throughout the first quarter of 2025, reflecting a steady pricing environment driven by cautious market dynamics.
• Why did the price of Rock Phosphate change in April 2025?
Prices did not change in early April; they remained steady due to subdued demand, particularly from the agriculture and food processing sectors.
• The Rock Phosphate Spot Price remained closely tied to Phosphoric Acid pricing trends, influenced by moderate production levels and conservative output from domestic manufacturers.
• The Rock Phosphate Demand Outlook remained weak, with limited new orders and soft purchasing activity due to ongoing economic uncertainties and seasonal slowdowns during winter.
• Despite a stable supply environment, producers struggled with rising operational costs and a need to align output with modest market demand.
• Persistent supply chain disruptions and a muted manufacturing recovery further restrained market growth.
• The Rock Phosphate Production Cost Trend showed signs of increase, driven by input inflation and elevated energy costs.
• The Rock Phosphate Price Forecast suggests cautious optimism for Q2 2025, with a potential uptick as agricultural demand improves with spring planting activities.
Europe
• The Rock Phosphate Price Index in Europe was stable in Q1 2025, supported by consistent pricing strategies from Moroccan exporters and a balanced supply-demand equation.
• Why did the price of Rock Phosphate change in April 2025?
Prices in April remained unchanged in the European market, influenced by muted fertilizer sector demand and buyer conservatism across the continent.
• The Rock Phosphate Spot Price stayed aligned with flat Phosphoric Acid pricing trends, reflecting weak demand for DAP and MAP fertilizers.
• The Rock Phosphate Demand Outlook was restrained due to soft performance in the Eurozone's chemical and industrial sectors, impacted by low consumer confidence.
• Seasonality and ongoing inventory reductions helped prevent significant price swings.
• While no major port disruptions occurred, the region's Rock Phosphate Production Cost Trend was pressured by economic uncertainties and potential tariff risks.
• Stable supply from Morocco ensured steady availability, but manufacturers remained vigilant in managing costs amid falling consumption levels.
• The Rock Phosphate Price Forecast for Europe anticipates continued stability unless disrupted by sudden regulatory changes or unexpected demand surges.
APAC (Asia-Pacific)
• The Rock Phosphate Price Index in APAC ended Q1 2025 at USD 149/MT CFR Tanjung Priok (Indonesia), reflecting slight volatility over the quarter.
• Why did the price of Rock Phosphate change in April 2025?
Early April 2025 saw a decline in prices, continuing from March due to elevated inventory levels and moderate demand from fertilizer manufacturers.
• The Rock Phosphate Spot Price reflected a 2.0% increase in January, driven by manufacturing momentum, followed by declines of 2.0% in February and 1.3% in March amid reduced downstream activity.
• Government subsidies aimed at expanding fertilizer access provided partial support, but oversupply from Morocco balanced the market.
• The Rock Phosphate Demand Outlook remained mixed, with farmers cautious in procurement despite seasonal planting periods.
• The Rock Phosphate Production Cost Trend held steady, supported by consistent supply logistics and lower operational disruptions across producing nations.
• Manufacturers in Indonesia and China navigated through subdued global demand while managing rising input costs.
• The Rock Phosphate Price Forecast for APAC points to possible recovery if agricultural stimulus programs drive higher consumption during the peak planting season.
Middle East & Africa (MEA)
• The Rock Phosphate Price Index in MEA ended Q1 2025 at USD 120/MT FOB Safaga (Egypt), showing an overall downward trend over the quarter.
• Why did the price of Rock Phosphate change in April 2025?
In the first week of April continued the decline in prices, driven by excess inventory and lower demand from key APAC buyers amid seasonal slowdowns.
• January recorded a 2.4% price increase due to inflation, currency depreciation, and higher production costs affecting Egyptian producers.
• February and March saw a combined decline of over 6%, as business confidence weakened and APAC fertilizer demand waned.
• The Rock Phosphate Spot Price came under pressure from export competition and limited buyer activity across Asia.
• The Rock Phosphate Demand Outlook was undermined by regional inflation and a struggling non-oil economy, especially in Egypt.
• The Rock Phosphate Production Cost Trend was negatively affected by high energy prices, inflation, and currency instability.
• Suppliers focused on managing inventory and streamlining operations to adapt to uncertain market signals.
• The Rock Phosphate Price Forecast remains bearish in the short term, with potential improvement dependent on agricultural recovery and regional economic stabilization.
