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.
Argentine DAP/MAP imports could climb in coming months
Argentine DAP/MAP imports could climb in coming months
London, 30 September (Argus) — Argentina's DAP and MAP imports have remained below normal so far this year, and buyers have been on the sidelines since August in particular. But an increase in soybean planting could see sales rebound in the fourth quarter. Phosphates purchases were slow in August because importers were delaying purchases in anticipation of a government announcement about an import tax reduction. The government announced on 2 September that import tariffs would be reduced from 17.5pc to 7.5pc. But despite that buying has remained slow because of unfavourable crop prices and sowing conditions. Argentina imported 32,000t of MAP in August, the lowest of any August since 2008, according to GTT data. MAP imports in January-August totalled 476,000t, down significantly from the 555,000t average for January-August 2019-23. MAP imports in the same period last year — 484,000t — were also below norms because of an abnormally dry climate and the increased risk of leafhopper swarms damaging crops. DAP imports were also down in August at 15,000t, compared with the 2019-23 August average of 36,000t. DAP imports in January-August totalled 210,000t, slightly above 208,000t in the same period last year but below the 243,000t average for the same period in 2019-23. Above-normal July DAP/MAP imports, which totalled 195,000t, only helped to offset some of the deficit over the first half of the year. DAP/MAP deliveries look sluggish in September-October Adverse conditions delaying planting, combined with soft corn prices, have pushed back demand for fertilizers. Upriver corn prices saw a 13pc year-on-year decline to $198/t fob upriver Argentina as of 26 September. Concerns have been aggravated by the rising frequency of crop destruction by leafhoppers, as well as dry weather, with the country's farmland recording scant rainfall in the past few months. The chances of the country experiencing another La Nina spring phenomenon are high, meaning low rainfall and increased risk of frost, which would lead to a poor corn harvest. These factors have further increased farmers' reluctance to buy DAP/MAP. Local sources expect that the national corn acreage will be reduced by 1mn-2mn hectares (ha) this year because of late planting. At least 128,000t of DAP/MAP is scheduled for arrival in Argentina in September-October, according to line-up and LHB data. But in 2019-23, the country imported an average of 54,000t of DAP and 228,000t of MAP in the same period, according to GTT data. Increased reliance on soybean crops could support DAP/MAP imports A shift towards increased soybean planting could lift the country's need for phosphate-based fertilizers and boost P2O5 demand until the end of the year. Farmers will increase the soybean-planted area by 1.7mn ha at the expense of corn, as the economics of the former are more favourable than the latter, according to the Buenos Aires Grain Exchange (Bage). The exchange added that the majority of soybean hectares have a greater than 60pc chance of breaking even, while the odds are less than 50pc for the majority of corn hectares. Local sources expect that between 500,000 ha and 1mn ha of corn acreage can be replaced with soybean crops this season. For the 2024-25 marketing year, Argentina is projected to increase the national soybean area by 9.8pc to 19mn ha, according to a Bage outlook. And the US Department of Agrciculture expects Argentina's soybean output to reach 51mn t for this season, up from 48.1mn t last year. But delays in reaching a decision on which crop to plant limits the amount of fertilizer that can arrive in time, with local market participants citing concerns about a potential logistical bottleneck before the planting period in late 2024. DAP/MAP imports typically peak over May-October and decline around November. By Renata Cardarelli and Adrien Seewald Argentina August DAP-MAP imports '000t Argentina monthly DAP-MAP imports '000t Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Mosaic cut its Q3 sales, halted logistics for Helene
Mosaic cut its Q3 sales, halted logistics for Helene
Houston, 27 September (Argus) — US fertilizer producer Mosaic cut its phosphate sales guidance for the third quarter after curtailing product shipments in preparation from Hurricane Helene. The producer lowered its sales guidance for the third quarter by 250,000t to 1.45-1.65mn t, the company said. Mosaic halted phosphate shipments from its three processing facilities near Tampa Bay, Florida, prior to Hurricane Helene on 23 September and is uncertain shipments will resume by the end of the week. Mosaic ships about 150,000t of phosphate product from Tampa Bay per week, the company said. Mosaic exports phosphates by vessel from the port of Tampa Bay, which shut down yesterday, and ships product by rail across the US. Helene made landfall as a Category 4 hurricane on 26 September on the Florida panhandle after barreling north in the Gulf of Mexico just west of Tampa Bay, causing storm surges and power outages in the area. About 4.2mn customers were without power across the southeast US. Mosaic did not respond to requests for comment on the impact Helene has had on its assets near Tampa Bay. The reduction in Mosaic's third quarter sales outlook includes 80,000-100,000t of phosphate production lost earlier this month after Hurricane Francine disrupted operations at its Faustina, Louisiana, plant near New Orleans. Faustina's operations have normalized since, Mosaic said. By Calder Jett Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Fact India extends phosphoric acid buy tender deadline
Fact India extends phosphoric acid buy tender deadline
London, 3 September (Argus) — Indian fertilizer producer and importer Fact has pushed back the closing date of its 30 August tender to buy 12,000t of phosphoric acid after failing to receive any offers. The tender will now close tomorrow. It stipulated arrival at Cochin port on India's southwest coast before 20 September. Offers are to be valid for a week after opening. Fact received no offers in its previous tender to buy two phosphoric acid cargoes of 8,000-12,000t each which closed on 12 August. Fact's 16 August tender for 20,000t of phosphate rock, which saw three regional trading firms offer, has also still not been awarded. By Mike Nash Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Ethiopia’s EABC seeks DAP in tender
Ethiopia’s EABC seeks DAP in tender
London, 29 August (Argus) — Ethiopian Agricultural Businesses (EABC) has likely issued a tender to buy 360,000t of DAP, closing on 9 September. Sources expect EABC to issue further tenders to bring the total volume of phosphate-containing fertilizers sought to 800,000-1.36mn t for delivery in 2024-25. But it is uncertain if additional tenders will also be for DAP or for NPS/NPSB. Typically, the corporation seeks large amounts of NPS and NPSB in its annual large-scale tender, and Moroccan major fertilizer producer OCP is awarded the full volume. In its 2023 tender — issued in August — EABC requested a little over 1.02mn t of NPSB and 332,300t of NPS, as well as 980,000t of urea. But reports emerged earlier this week that EABC was preparing to seek DAP instead. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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