Fertilizers
Overview
The fertilizer industry has seen dramatic changes in market dynamics, with challenges posed by policy and regulatory changes, political instability, conflicts and new macroeconomic realities. The drive towards energy transition and ambitious zero-carbon goals has also opened up the industry to new entrants and new opportunities.
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Pakistan SOP producers cut rates on sulphur shortage
Pakistan SOP producers cut rates on sulphur shortage
Singapore, 13 April (Argus) — Pakistan's Mannheim SOP producers have cut run rates to 50-75pc from 80-90pc, driven by tight supply of sulphur from Iran on the back of the US-Iran war, according to producers. Around 0.6t of sulphuric acid or 0.2t of sulphur is needed to produce 1t of SOP using the Mannheim method. Manheim producers in Pakistan rely heavily on sulphur imports from Iran as feedstocks via cross-border trade, as domestic supply is insufficient to sustain demand. The US-Iran war has pushed delivered sulphur prices sharply higher. Indications for Iranian sulphur are now at $750-780/t cfr according to one importer. Domestic prices for sulphuric acid surged to 300,000 rupees/t ($1,077/t) from 100,000 rupees/t in February, before the war. Barket Fertilizers has operated at a reduced rate of 75pc since late March at its 50,000 t/yr plant at Port Muhammad Bin Qasim. The producer plans to ramp up production to full capacity on 15 April after securing sufficient feedstocks. Fellow producer Agven is operating at 50pc at its 20,000 t/yr Gwadar plant in April because of a planned turnaround that will last until end of the month. The producer has yet to decide whether to return to full rates as this depends on sulphuric acid price and availability. Other producers, including Suncrop and Akbari, are operating at 50-75pc at their 40,000 t/yr plant in Rahim Yar Khan and 20,000 t/yr plant in Bhikhi, respectively, because of feedstock supply tightness and firm prices. But lower run rates are unlikely to cause SOP shortages, as buyers could switch to buying more MOP. Domestic bagged granular SOP prices are now at 260,000-280,000 rupees/t ($934-1,005/t) ex-warehouse, and buyers are likely to move to granular MOP if prices rise further, one producer said. By Huijun Yao Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Iran eyes regional solution for Hormuz crisis
Iran eyes regional solution for Hormuz crisis
Dubai, 9 April (Argus) — Iran is proposing a regional solution to the strait of Hormuz crisis that would involve at least some of the countries bordering the Mideast Gulf, according to a bill currently under discussion in parliament. Part of that would involve charging a fee for vessels passing through the key waterway, with revenues from this available to all participating countries as 'war reparations'. " Dubbed the 'law of strategic action for peace and development of the Persian Gulf,' the Iranian bill would govern Tehran's oversight and management of traffic through Hormuz, which has been severely disrupted since the start of the US-Israeli war against Iran on 28 February. Tehran's subsequent threats to any and all vessels it deemed to be 'unfriendly' led to traffic through the strait dropping to around seven a day in March, compared with typical daily movement of more than 100 before the war according to Kpler data. Diplomatic engagement with several of what Tehran dubs 'friendly' countries has seen a slight pick-up in traffic through the strait, with more than 11 vessels crossing on average in the first eight days of April. Malaysia, Thailand, the Philippines and Iraq have all secured deals for passage with Tehran, and Islamabad last week said it had secured the safe passage of 20 Pakistani-flagged ships. This pick-up came as Iran began introducing something of a toll system, whereby vessels would pay Tehran a fee to transit the waterway safely — a process first revealed by Iranian parliament member Alaeddin Boroujerdi in mid-March . Speaking to Argus , Hamid Hosseini, spokesman for Iran's oil, gas and petrochemical products exporters' union, confirmed the toll mechanism remains in place. "Every very large crude carrier (VLCC) transiting the strait has been paying $2mn, in line with what has been under discussion in parliament," Hosseini said. The fee being charged is directly linked to the volume of oil on board, Hosseini said. "Ship owners are being asked to pay $1 per barrel, and that can be done in the local currency, rials, or cryptocurrency, but only after the vessel has received a permit from the IRGC," he said. Tidings for all This mechanism appears to form the basis of how Iran sees the future of the strait of Hormuz, and its role as the guardian and guarantor of the key waterway. "The Iranian government, in co-operation with the Iranian armed forces, is obliged to provide services, like navigation guidance and vessel inspection, as well as compliance and financial assessments," the bill says, specifying that vessels related to "warring countries" will, for the most part, be barred. "The armed forces will determine which vessels are considered belligerent, and which are not," the bill says, stating that final say will come from the Supreme National Security Council (SNSC), one of Iran's most powerful decision-making bodies. Chaired by the president, the SNSC is responsible for national security, defense and major foreign policy strategy, and has been deeply involved in formulating Iran's war effort. The bill reiterates vessels will need to pay a fee to transit Hormuz, either in rials or cryptocurrency, it says proceeds will not go to Iranian state coffers, but to what it calls a 'Persian Gulf Reconstruction and Development Fund' that regional countries can apply to join. "The resources in this fund will be considered war reparations for Iran and other member countries, and be used for the reconstruction and development needs of the member countries," the bill says. Gulf countries are yet to show appetite for this plan. Oman's transport, communications and information technology minister Said Al-Maawali on 8 April said the country is party to all international maritime conventions, which do not allow for the imposition of charges on passage. The Iranian bill has secured approval from parliament's national security council, but has not yet been brought to the parliament floor for a vote, Hosseini said. By Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Turkey bans sulphur exports
Turkey bans sulphur exports
London, 9 April (Argus) — Turkey has announced a sulphur export ban from 7 April, excluding shipments already cleared by customs. The export of goods under customs tariff position 2503, namely "all kinds of sulphur (excluding sublimed sulphur, precipitated sulphur and colloidal sulphur)", shall not be permitted as of 7 April (inclusive), except for customs declarations registered prior to this date, according to a letter from Turkey's agriculture ministry dated 1 April. The export restriction was approved by government on 6 April and will apply during the second and third quarters of 2026, with limited exemptions. The letter says the export ban is due to a 35–40pc surge in sulphur prices alongside supply shortages, driven by the conflict in the Middle East. Turkish refiner Tupras regularly announces a monthly 8,000t export tender for the Mediterranean market, which is now understood to be on hold. Turkey exported about 226,500t of sulphur in 2025, according to Global Trade Tracker, with the majority of volumes going to Egypt, Tanzania — for the copper belt — Greece and Lebanon. By Fenella Rhodes Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Phosacid settles at $1,360/t P2O5 cfr India for 2Q26
Phosacid settles at $1,360/t P2O5 cfr India for 2Q26
London, 9 April (Argus) — Indian fertilizer importer and producer Coromandel International (CIL) and Jordanian producer JPMC have agreed a price of $1,360/t P2O5 cfr India with 30 days credit for the second quarter. This is up by $70/t P2O5 from the first-quarter price of $1,290/t P2O5 cfr, likely driven by firm DAP and sulphur prices, but tempered by high prices and tight availability of ammonia. Earlier this week, an Indian importer bought 15,000t of DAP at $865/t cfr for shipment in April, raising the Indian DAP price to 29pc above the level at the beginning of January. Over the same period, prices for dry bulk sulphur — a key raw material for phosphoric acid production — delivered to Indian ports have risen by almost 30pc. But availability of ammonia — a key raw material for DAP production, with phosphoric acid — is tight in India. And prices for ammonia delivered to Indian ports have risen by almost 41pc at the midpoint since the beginning of January. No settlements between other Indian buyers and global suppliers have yet emerged. 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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