Phosphates
Overview
The global phosphates market has witnessed increasing volatility, in response to military conflicts, political tensions and changing market dynamics. Price fluctuations have continued to buffet the market, with increasing demand from south and Southeast Asia the main regions driving consumption growth. Rising raw material prices and improved affordability have lifted prices once again.
Phosphates' usage is also not solely limited to fertilizers. Battery-material suppliers are increasingly seeking to source phosphate rock and specialty phosphates-based products to meet the rapidly rising demand for lithium-iron-phosphate batteries for electric vehicle production.
Our extensive phosphates coverage includes DAP, MAP, TSP and SSP, as well as raw materials phosphate rock and phosphoric acid, with assessments also spanning feed products MCP and DCP. Argus has many decades of experience covering the phosphates market and incorporate our multi-commodity market expertise in key areas including sulphur and ammonia to provide the full market narrative.
Argus support market participants with:
- Daily and weekly phosphates price assessments, proprietary data and market commentary
- Short and medium to long-term forecasting, modelling and analysis of processed phosphate and phosphate rock prices, supply, demand, trade and projects
- Bespoke consulting project support
Latest phosphate news
Browse the latest market moving news on the global phosphate industry.
Pakistani DAP stocks slip in April
Pakistani DAP stocks slip in April
London, 18 May (Argus) — A lack of imports saw domestic sales erode Pakistani DAP stocks in April. But affordability for buyers and suppliers conserving stocks is putting offtake under pressure. Pakistan began May with 203,000t of DAP in stock, down by 11,000t from the start of April, according to the National Fertilizer Development Centre. Pakistan did not import any DAP last month, while domestic production was typical, at 74,000t. Domestic offtake almost halved to 85,000t, compared with March. But cumulative sales of 376,000t in January-April remain ahead of previous years, outpacing the average for January-April in 2023-25 by around 51,000t. Pakistani farmers and retailers anticipated that the globally bullish trend in DAP prices, primarily driven by the war in the Middle East, will eventually be felt in the domestic market and bolstered their stocks accordingly. Pakistan is now in its typical off-season, but the drop in offtake last month also reflects importers conserving their stocks and domestic prices testing farmers' affordability. Distributors expect DAP offtake to remain under pressure, seeing farmers prioritise nitrogen and potentially looking to other sources of phosphate, such as SSP and NPs. Prices for DAP from warehouses at Karachi have risen by 1,581 rupees/50kg bag — equivalent to around $114/t at current exchange rates — at the midpoint since the start of 2026. The latest stock total is in line with DAP inventories at the end of April 2025. But this is the third consecutive monthly fall in stocks. National DAP stocks had been growing since the beginning of January at the end of April last year and went on to grow for another three months. No DAP is lined up to arrive this month. But importers have lined up 60,000t of DAP, likely to arrive in June. This includes 20,000t of Moroccan DAP and 40,000t of Saudi Arabian DAP . May-June offtake in 2023-25 averaged 201,000t. If no more DAP imports are lined up, and if domestic offtake and production remain typical, national stocks are likely to remain largely unchanged by the end of June. If DAP stocks wither as distributors forecast, this could allow stocks to recover slightly. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
India’s IPL secures over 1.3mn t of DAP: Update 2
India’s IPL secures over 1.3mn t of DAP: Update 2
Updates the lists for deliveries to each coast published on 12 May. The total quantity secured in the tender, the quantity per supplier, and the suppliers themselves are unchanged. London, 14 May (Argus) — Indian fertilizer importer and producer IPL has issued letters of intent to 14 suppliers, securing 1.3465mn t of DAP at $930-935/t cfr in a tender that closed on 7 May. Suppliers are to deliver 631,500t of DAP to India's east coast and 715,000t to the west coast. The delivery schedule is not yet available, but IPL had specified shipment from loading ports by 15 August in the tender. The quantity secured is above the 1.2mn t that IPL had sought in the tender. It received offers for 2.325mn t of DAP before asking all suppliers to match the lowest offers submitted at $935/t cfr east coast and $930/t cfr west coast India. The suppliers for the east coast are as follows: Indagro: 30,000t from Egypt Aditya Birla: 31,500t from Egypt Samsung: 50,000t, open origin Sun International: 40,000t from the US Fertistream: 50,000t from Russia Maaden: 60,000t from Saudi Arabia Oasis Global: 60,000t from Russia Ameropa: 15,000t from South Korea Agricommodities: 245,000t from the US/Saudi Arabia Hexagon: 50,000t, open origin The suppliers for the west coast are as follows: Indagro: 40,000t from the US Quest Group: 50,000t from Morocco Agrifields: 45,000t from Jordan VB Venture: 40,000t from Saudi Arabia Sun International: 40,000t from the US Maaden: 110,000t from Saudi Arabia Oasis Global: 90,000t from Russia Ameropa: 50,000t from the US/Tunisia Midgulf International: 60,000t from the US Agricommodities: 190,000t from the US/Saudi Arabia Agricommodities had initially accepted IPL's counterbid prices for up to 600,000t of DAP from Saudi Arabia . But Argus understands that IPL wanted Agricommodities to load all of its cargoes from Red Sea ports, rather than from Ras al-Khair in the Mideast Gulf. IPL had also sought 400,000t of TSP in the tender. Argus understands that IPL has countered Moroccan producer OCP at $710/t cfr for TSP. Talks with OCP for DAP and TSP are reportedly ongoing. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
India’s IPL secures over 1.3mn t of DAP: update
India’s IPL secures over 1.3mn t of DAP: update
Adds Aditya Birla to the list of suppliers, bringing the total secured to 1.3465mn t of DAP London, 12 May (Argus) — Indian fertilizer importer and producer IPL has issued letters of intent to 14 suppliers, securing 1.3465mn t of DAP at $930-935/t cfr in a tender that closed on 7 May. Suppliers are to deliver 581,500t of DAP to India's east coast and 765,000t to the west coast. The delivery schedule is not yet available, but IPL had specified shipment from loading ports by 15 August in the tender. The quantity secured is above the 1.2mn t that IPL had sought in the tender. It received offers for 2.325mn t of DAP before asking all suppliers to match the lowest offers submitted at $935/t cfr east coast and $930/t cfr west coast India. The suppliers for the east coast are as follows: Indagro: 40,000t from the US Ameropa: 15,000t from South Korea Samsung: 50,000t, open origin Sun International: 40,000t from the US Maaden: 60,000t from Saudi Arabia Hexagon: 50,000t, open origin Fertistream: 50,000t from Russia Agricommodities: 245,000t, open origin Aditya Birla: 31,500t from Egypt The suppliers for the west coast are as follows: Indagro: 30,000t from Egypt Ameropa: 50,000t from Morocco Agrifields: 45,000t from Jordan VB Venture: 40,000t from Saudi Arabia Sun International: 40,000t from the US Maaden: 110,000t from Saudi Arabia Quest Group: 50,000t from Russia Agricommodities: 190,000t from Saudi Arabia Oasis: 150,000t from Russia Midgulf International: 60,000t, open origin Agricommodities had initially accepted IPL's counterbid prices for up to 600,000t of DAP from Saudi Arabia . But Argus understands that IPL wanted Agricommodities to load all of its cargoes from Red Sea ports, rather than from Ras al-Khair in the Mideast Gulf. IPL had also sought 400,000t of TSP in the tender. Argus understands that IPL has countered Moroccan producer OCP at $710/t cfr for TSP. Talks with OCP for DAP and TSP are reportedly ongoing. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
India’s IPL secures over 1.3mn t of DAP in tender
India’s IPL secures over 1.3mn t of DAP in tender
London, 12 May (Argus) — Indian fertilizer importer and producer IPL has issued letters of intent securing 1.315mn t of DAP at $930-935/t cfr in a tender that closed on 7 May. Suppliers are to deliver 550,000t of DAP to India's east coast and 765,000t to the west coast. The delivery schedule is not yet available, but IPL had specified shipment from loading ports by 15 August in the tender. The quantity secured is above the 1.2mn t that IPL had sought in the tender. It received offers for 2.325mn t of DAP before asking all suppliers to match the lowest offers submitted at $935/t cfr east coast and $930/t cfr west coast India. The suppliers for the east coast are as follows: Indagro: 40,000t from the US Ameropa: 15,000t from South Korea Samsung: 50,000t, open origin Sun International: 40,000t from the US Maaden: 60,000t from Saudi Arabia Hexagon: 50,000t, open origin Fertistream: 50,000t from Russia Agricommodities: 245,000t, open origin The suppliers for the west coast are as follows: Indagro: 30,000t from Egypt Ameropa: 50,000t from Morocco Agrifields: 45,000t from Jordan VB Venture: 40,000t from Saudi Arabia Sun International: 40,000t from the US Maaden: 110,000t from Saudi Arabia Quest Group: 50,000t from Russia Agricommodities: 190,000t from Saudi Arabia Oasis: 150,000t from Russia Midgulf International: 60,000t, open origin Agricommodities had initially accepted IPL's counterbid prices for up to 600,000t of DAP from Saudi Arabia . But Argus understands that IPL wanted Agricommodities to load all of its cargoes from Red Sea ports, rather than from Ras al-Khair in the Mideast Gulf. IPL had also sought 400,000t of TSP in the tender. Argus understands that IPL has countered Moroccan producer OCP at $710/t cfr for TSP. Talks with OCP for DAP and TSP are reportedly ongoing. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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