Saudi fertilizer producer Maaden has reported selling 45,000-50,000t of DAP at $715-720/t fob for loading in early March and shipment to Latin America.
No buy-side confirmation has yet emerged, but the buyer is likely to be a trading firm.
The exact destination is unconfirmed, but a strong candidate would be Argentina, where the price would net forward to between the mid-$750s/t and mid-$760s/t cfr. This is broadly in line with latest prices in Argentina, although no sales have concluded there recently.
The price is up from last week's Argus $667-705/t fob assessment for Saudi DAP.
