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 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.
Second Saudi phosphates cargo transits Hormuz
Second Saudi phosphates cargo transits Hormuz
London, 11 May (Argus) — The Mdl Toofan , which loaded 55,000t of MAP at Ras Al-Khair in late April, crossed the strait of Hormuz on 9-10 May, according to vessel tracking data from Kpler. The MAP is scheduled to arrive at Rio Grande, Brazil, on 5 June. This is the second phosphates cargo to cross the strait since the start of the US-Iran war at the end of February. Eight other vessels carrying phosphates loaded at Ras Al-Khair remain in the Gulf. By Adrien Seewald Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Indian April DAP stocks rise, remain lower than normal
Indian April DAP stocks rise, remain lower than normal
London, 8 May (Argus) — Indian DAP stocks were supported by a recovery in domestic production in April, according to provisional data, but a scarcity of global raw materials and DAP remains a risk for suppliers ahead of the peak domestic demand season that starts around the end of the third quarter. Argus estimates India's DAP stocks at 1.93mn t at the end of April, well below the 2.46mn t average for the month across 2021-25. India produced 304,000t of DAP last month, up sharply from 196,000t in March, provisional data show, as producers completed scheduled maintenance. This raised January-April output to 1.18mn t, broadly in line with the 1.12mn t average over the same period in 2021-25. Imports also climbed in April, by 104,000t on the month to 131,000t, line-up data show. But arrivals in January-April of 380,000t were significantly below the 1.12mn t five-year average for the same period because high international prices — exacerbated by the closure of the strait of Hormuz since the end of February — discouraged Indian importers from buying. The Indian DAP assessment has climbed from a low of $668/t cfr at the midpoint in January to $932.50/t cfr in early May. Sales of 322,000t in April, based on provisional data, bring demand in the first four months of the year to 1.73mn t, above the five-year average of 1.54mn t. India's import line-up could increase if importer IPL decides to award significant volumes of DAP in its 7 May tender to buy 1.2mn t, in which it received offers totalling 2.33mn t . Any cargoes awarded under the tender are to ship from loading ports by mid-August. The importer earlier on Friday issued counterbids at the level of the lowest offers, but it remains to be seen if suppliers are willing to reduce their offers, and how much of the offered product is formally backed by producers. Indian DAP producers will continue to face limited supply and high prices for raw materials — even if the strait of Hormuz reopens fully this month, disruptions to global supply will take months to dissipate. This will place a greater emphasis on imports to meet DAP demand. TSP sales of 31,000t drew national stocks down to 374,000t at the end of April, without any imports arriving to replace offtake. By Adrien Seewald Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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