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.
India’s NFL issues tender for 100,000-120,000t DAP
India’s NFL issues tender for 100,000-120,000t DAP
London, 8 June (Argus) — Indian fertilizer importer NFL has issued a tender to buy 50,000-60,000t of DAP for the east coast of India and the same volume for the west coast, closing on 10 June. The importer asked for shipment by 31 July from the port of loading, with offers to remain valid until 19 June. Offers should be for at least 25,000t, and the DAP is requested as black, brown or "natural coloured". A major Indian importer last week bought 100,000t of Moroccan DAP at $930-935/t cfr on the spot market, in line with prevailing prices over most of May. By Adrien Seewald Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Egyptian phosrock exports resuming
Egyptian phosrock exports resuming
London, 4 June (Argus) — Egyptian exporters are again submitting applications to load phosphate rock cargoes after a hiatus of around a month caused by uncertainty over government export policy. Market participants say exports will continue as normal to the end of the year, but that 2027 availability is not yet clear. Prices for new cargoes have not yet emerged. Some traders expect them to settle higher, but others see stable June prices and the potential for a rise in July. Higher oil prices are pushing up mining and trucking costs in Egypt. Seasonal demand for transporting the latest wheat and beetroot crops is also tightening availability of trucks to take phosphate rock from mines to ports. Egyptian phosphate rock producers and exporters stopped offering fresh cargoes after petroleum and mineral resources minister Karim Badawi stated on 3 May that Egypt would stop approving new exports and prioritise supply for domestic phosphate producers. No legal memorandum followed and the government has not issued any official statements on the subject since the 3 May press release. The government is reportedly reviewing Egypt's expected 2027 demand for phosphate rock. In the press release, Badawi highlighted ongoing phosphate projects in Egypt, including Misr Phosphate's joint venture with industrial group Indorama. Exporters argue that lower grades of Egyptian rock — notably from the Abu Tartour mines — draw less demand from domestic consumers than higher grades from other mines. Egypt is a significant supplier of rock to Asia-Pacific, much of that supply being 26-27pc P2O5 rock from Abu Tartour. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
India buys Moroccan DAP, TSP
India buys Moroccan DAP, TSP
London, 2 June (Argus) — A major Indian importer has bought 100,000t each of DAP and TSP for shipment from Morocco in June-July. Half of the quantity for each product will be delivered to each of India's east and west coasts. The DAP is priced at $935/t cfr east coast and $930/t cfr west coast India. This is in line with awards under IPL's tender in May , which secured more than 1.3mn t of DAP. The TSP is priced at $710/t cfr for both east and west coasts. This is in line with IPL's counterbids under its tender in May, after getting offers for 410,000t at prices ranging from $770-850/t cfr. The prices in this sale are likely to net back to the $880s/t fob Morocco for the DAP and the $660s/t fob for the TSP. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Indian DAP stocks recovered slightly in April
Indian DAP stocks recovered slightly in April
London, 27 May (Argus) — Indian DAP stocks increased slightly in April as a result of combined imports and production marginally outweighing domestic demand, in line with expectations from provisional data earlier this month , according to Indian fertilizer association FAI data. Indian DAP stocks rose marginally to just below 1.93mn t by the start of May, Argus estimates. This was also a recovery from around 1.60mn t of DAP inventories at the end of April last year, although stocks remained more than 1mn t lower than the average for the time of year over 2022-24. DAP stocks are also down slightly from the start of this year because increased output has not covered the substantial fall in imports in the face of firm offtake compared with last year. India produced 303,000t of DAP in April, just 10,000t lower than in the same month last year, according to FAI data, although DAP production over January-April of 1.175mn t was ahead of the 933,000t produced in the first four months of 2025. But the lack of sulphur and ammonia — key raw materials for DAP production — raises doubts over whether India can sustain this trend. Imports are significantly lagging year-earlier levels. DAP imports of only 49,000t last month brought the January-April total to 298,000t — or just 39pc of India's DAP imports over the same period in 2025. Importers facing firm global prices, especially since the start of the US-Iran war and the closure of the strait of Hormuz, have kept to the sidelines while they wait for further clarity on whether the government will provide additional financial support to importers beyond the nutrient-based subsidy. Major importer IPL successfully lined up more than 1.3mn t of DAP in its 7 May tender on behalf of several importers, following the government's recommendation that importers buy on a consortium basis. Domestic DAP sales of 326,000t in April surpassed the total for April last year by 114,000t. And offtake since January of 1.736mn t is 49pc higher than in the same period in 2025. TSP stocks fell by 31,300t in April because no imports arrived to replace product sold domestically, according to FAI sales data and Argus lineup data. Argus estimates Indian TSP stocks at the end of April at around 374,000t. By Tom Hampson Indian DAP stocks and prices '000t Indian DAP production, imports and prices '000t Indian TSP imports and stocks '000t Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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