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.
Australia’s Dyno Nobel sells Phosphate Hill plant
Australia’s Dyno Nobel sells Phosphate Hill plant
Sydney, 1 July (Argus) — Australian explosives producer Dyno Nobel has sold its 769,000 t/yr Phosphate Hill plant to Australian energy and resources firm Mayfair for A$1 (0.69¢), with support from federal and state government loans, the company said on 1 July. Phosphate Hill is Australia's only MAP/DAP production plant and has recently faced issues with sulphuric acid supply , as well as rail disruptions on the Mount Isa line , which transports product to the Port of Townsville. The sale agreement was signed on 30 June. Dyno Nobel likely sold Phosphate Hill for a nominal A$1 as part of its plan to divest from the fertilizer sector, with the plant facing ongoing operational and cost pressures . The Australian federal and Queensland state governments have provided a A$160mn loan to support operations at Phosphate Hill, the Ministry for Industry and Innovation said. The loan will help Mayfair to upgrade the facility and includes assistance to manage higher sulphur costs following the US-Iran war. Australia imports 99pc of its sulphur from Canada, according to the Australian Bureau of Statistics (ABS). Argus -assessed sulphur at $1,150/t fob Vancouver on 25 June, up by 136pc from 26 February. Production at Phosphate Hill fell by 9pc on the year to 272,800t in the financial half year to 31 March 2026. MAP/DAP exports from the Port of Townsville were flat on the year at 116,700t in the same period, trade data from ABS show. Exports in January-April dropped by nearly 100pc on the year to 43t. Australian agribusiness Ridley held a supply agreement for all MAP/DAP output from Phosphate Hill through Incitec Pivot Fertilizers before the sale and plans to renegotiate this deal with Mayfair . Ridley did not respond to requests for comment by the time of publication. Argus last assessed MAP/DAP at $883-933/t fob Townsville on 25 June. Dyno Nobel reported net emissions of 446,062t CO2 equivalent to scope 1 emissions from Phosphate Hill in the financial year ending 30 June 2025, after surrendering 26,089 Safeguard Mechanism Credits. By Susannah Cornford Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Trump suspends Morocco phosphate duties for 8 months
Trump suspends Morocco phosphate duties for 8 months
Houston, 29 June (Argus) — US President Donald Trump said late Monday he will temporarily suspend countervailing duties on certain phosphate fertilizer imports into the US from Morocco for eight months, citing a "supply emergency" for US farmers. Under the proclamation, anti-dumping and countervailing duties issued against certain phosphate fertilizers from Morocco will be suspended for eight months, or until the emergency order is terminated, depending on which occurs first. Global supply chains for phosphate fertilizers and fertilizer inputs have been disrupted by conflicts in fertilizer-producing regions, and trade actions taken by major fertilizer-producing regions, a fact sheet related to the proclamation said. This would include the US-Israel war with Iran, which had largely stopped traffic through the strait of Hormuz, trapping Saudi Arabian phosphate cargoes, while sending raw material costs such as sulfur and ammonia, significantly higher. Even with more Saudi Arabian phosphates cargoes moving through the strait in recent days, none of those vessels are en route to the US, according to vessel tracking data. The countervailing duties imposed on Morocco have been under a five-year sunset review by the Department of Commerce since early March, with Commerce earlier this month announcing it would be extending the deadline for a preliminary decision until 20 July. Moroccan fertilizer producer OCP and Russian fertilizer producers have been subject to countervailing duties on phosphate exports to the US since 2021, after US fertilizer producer Mosaic filed a petition with authorities alleging the two countries' phosphate imports materially injured the US market. It is unclear if Commerce was aware of Trump administration's emergency proclamation ahead of time. The circumstances related to fertilizer supply emergency will be monitored, according to the White House, with further action possible. By Taylor Zavala Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Saudi DAP cargo transits strait of Hormuz
Saudi DAP cargo transits strait of Hormuz
London, 26 June (Argus) — The fourth Saudi Arabian phosphates cargo to pass through the strait of Hormuz this week so far completed its transit earlier today. The vessel Zagori is carrying 50,000t of DAP, which it loaded at Saudi Arabia's Ras Al-Khair port in the Mideast Gulf in late February-early March, according to vessel-tracking data from analytics platform Kpler. The cargo's destination is not yet known. The total volume of DAP/MAP to transit the strait this week so far now stands at 203,000t. The following cargoes made it through the strait earlier this week: Global Unity , with 61,000t of DAP, scheduled to arrive at Visakhapatnam in India on 3 July Banglar Joyjatra, with 37,000t of MAP, due to arrive at Durban in South Africa on 10 July BC Agility, with 55,000t of MAP, scheduled to arrive at Rio Grande in Brazil on 25 July These were the first transits since the first half of May, when the Mdl Toofan , carrying 55,000t of MAP, became the second phosphates cargo to cross the strait since the start of the US-Iran war at the end of February. This leaves the following cargoes remaining in the Mideast Gulf: Bahri Wafi loaded 72,000t of DAP in early April Bahri Bulk loaded 71,000t of DAP in late April-early May Bahri Trader loaded 71,000t of DAP in late March Chang Chang Dong Hai loaded 55,000t of DAP in early March, which Argus understands is bound for India Saudi Arabian producers remain cautious about loading fresh cargoes from Ras Al-Khair, despite the increase in vessel traffic through the strait of Hormuz this week. Saudi producer Maaden will load the 120,000t of DAP it sold to India in mid-June from Yanbu port in the Red Sea in July. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Indian May DAP stocks improve but could slip in 3Q
Indian May DAP stocks improve but could slip in 3Q
London, 24 June (Argus) — Indian DAP stocks edged up to 1.96mn t over May as a boost in domestic production and imports helped offset the uptick in demand. Combined imports and domestic output outpaced offtake in May, raising stocks by 33,000t on the month, the latest data from the Fertilizer Association of India (FAI) show. India started May with 1.93mn t of DAP in stock. May domestic output was at 393,000t, the highest of any month since August 2024, according to FAI data. In the face of bullish international DAP prices, domestic production margins are almost $200/t more attractive when using ammonia and phosphoric acid than importing DAP as of last week. The FAI data show an increase in May imports to 132,000t compared with underwhelming arrivals in March and April. But last month's total is only about a third of average 2021-25 May imports at 393,000t. The lack of clarity on whether importers will be compensated by the government for their losses, coupled with steep price increases since the start of the US-Iran war, have dampened import interest. Domestic sales seasonally rose to 492,000t in May, but the total remains below the 573,000t five-year average for the month. More imports needed ahead of 4Q Indian importers will have to intensify their DAP purchases in the coming months, as domestic demand will rise seasonally over the third quarter and peak in the fourth quarter. Margins for the production of DAP with phosphoric acid may worsen next quarter on the back of expectations of higher phosphoric acid prices. Producers and traders envisage a significant price increase from the second-quarter settlement at $1,360/t P2O5 cfr as sulphur costs have continued to rise over the second quarter while supply has dried up. A lack of ammonia stocks helped Indian importers secure a lower-than-expected second-quarter phosphoric acid settlement, but improved ammonia supply over the second quarter is likely to weaken importers' hands in negotiations for the third quarter. Indian importers are expected to soon emerge with fresh demand for DAP. The apparent de-escalation of hostilities around the strait of Hormuz raised the prospect of softer DAP prices and delayed Indian import demand. TSP stocks fall on lack of imports Indian TSP demand rose to 59,000t in May, while no imports were recorded for the third month in a row, causing stocks to fall to 314,000t. Stocks are due to improve with new arrivals of 100,000t of Moroccan TSP bought at the start of the month for shipment in June-July, and another 100,000t from OCP bought last week for loading in June. By Adrien Seewald Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Argus Fertilizer Market Highlights
The complimentary Argus Fertilizer Market Highlights package includes:
• Bi-weekly Fertilizer Newsletter
• Monthly Market Update Video
• Bi-monthly Fertilizer Focus Magazine
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Global Sulphur & Sulphuric Acid Market Dynamics & Impact of US-Iran Conflict
Global Sulphur & Sulphuric Acid Market Dynamics & Impact of US-Iran Conflict
Global DAP Market Dynamics & Outlook: Opportunities for Pakistan?
Global DAP Market Dynamics & Outlook: Opportunities for Pakistan?
European AdBlue & TGU markets: What’s shaping the outlook?
European AdBlue & TGU markets: What’s shaping the outlook?
Explore our phosphate products
Region and country focused market intelligence
Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.