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.
Ethiopia’s EABC awards two cargoes in tender to buy DAP
Ethiopia’s EABC awards two cargoes in tender to buy DAP
London, 27 June (Argus) — Importer Ethiopian Agricultural Businesses (EABC) has awarded two DAP cargoes to trading firm ETG at $721.42/t fob and $731.48/t fob in its tender to buy 170,000t, which closed on 16 June. The award at $721.42/t fob is for lot 16, which ETG made the lowest offer for of 60,000t of Chinese DAP for at-sight payment, loading on 5-10 July. The award at $731.48/t fob is for lot 27, which ETG made the lowest offer for of 50,000t of Chinese DAP for at-sight payment, loading on 10-15 July. Fellow trading firm Aditya Birla has not been awarded its offer into lot 19 at $754.50/t fob sight for 60,000t of Chinese DAP, loading on 20-25 June. Awards were delayed as negotiations dragged on in the backdrop of freight volatility caused by the Israel-Iran conflict. The awards into the tender are lower than current Chinese prices at $745-760/t fob, which have risen by $30/t at a midpoint basis since the tender closed. Ethiopia's domestic season is at its tail end. Combined with the 300,000t of DAP awarded by EABC in its previous tender, which closed on 13 May combined with the volume already arrived into the country, Argus estimates that the importer has secured its P2O5 needs for the 2025 application season . EABC's next round of tender business will target supply for the 2026 domestic season. By Adrien Seewald Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Potential Hormuz closure threatens ferts, sulphur trade
Potential Hormuz closure threatens ferts, sulphur trade
London, 23 June (Argus) — Iran's threat to "close" the strait of Hormuz in response to the US military attack on its nuclear sites over the weekend risks disrupting 20-50pc of international trade in urea, sulphur, phosphate and ammonia. The risk is primarily to buyers of fertilizer and associated raw materials outside the Mideast Gulf as, with the exception of sulphuric acid, potash and some niche products, the flow of trade is dominated by exports. Fully half of global seaborne sulphur trade originates from the Mideast Gulf — 20mn t this year, according to Argus Analytics — which goes primarily to China, Morocco and Tunisia, and for mining users in southern and central Africa. Sulphur is a key raw material for making phosphate fertilizers. Some substitution for sulphur by merchant sulphuric acid is possible but the sulphuric acid markets are already tight. Urea markets also have a substantial degree of exposure to potential disruption to shipments from the Mideast Gulf, with around a third of seaborne trade supplied from the region. Exports from the Mideast Gulf are forecast at around 18mn t this year by Argus Analytics , from a global total of 56mn t. The major destinations for Middle East urea during the third quarter each year are typically Brazil, India, Thailand and Australia. Ammonia exports from the Mideast Gulf account for around a fifth of global trade. Shipments this year from Mideast Gulf producers averaged around 365,000 t/month, according to Argus ' tracking of loaded vessels, with the main buyers being fertilizer producers in India and Morocco, which have taken 830,000t and 315,000t, respectively, and mostly industrial buyers in South Korea, which have taken 335,000t. For phosphates, the main risk is to the supply of MAP and DAP from Saudi Arabia. Saudi Arabia's Ma'aden produces around 20pc of the 17mn t/yr of seaborne trade in MAP and 14pc of the 12mn t/yr of DAP trade, with India typically the largest recipient of the latter, in terms of quantity, during the third quarter. All DAP and MAP shipments, plus some NPS, are loaded from Ras al-Khair. On the import side, the greatest impact from any disruption to shipments in the region would be on sulphuric acid. Ma'aden is expected to import around 700,000t of sulphuric acid through Ras al-Khair in 2025, and line-up data show nearly 500,000t of acid will be shipped in the first seven months of the year, mainly from Asia-Pacific origins such as west coast India and China. Few alternative loading mechanisms are available to bypass any disruption to the strait of Hormuz. The UAE port of Fujairah in the Gulf of Oman can load bulk cargoes, but in the event of significant regional disruption the port might not be able to prioritise fertilizer exports over other commodities. It is also on the far side of the country from the urea and sulphur production facilities. Saudi Arabia has several Red Sea ports, but distances overland from production sites close to the Mideast Gulf make this route operationally and commercially challenging. The threat of disruption has so far not prevented trade in and stevedoring of cargoes within the region — including shipments from Iran's ports of Bandar Imam Khomeini and Asaluyeh — which continued over the weekend. By Bede Heren Mideast Gulf fertilizer and related raw material exports Product Exports ('000 t/yr) % of seaborne trade Sulphur 20,058 50 Urea 17,978 32 Ammonia 3,635 21 MAP 3,480 20 includes exports from Bahrain, Iran, Iraq, Kuwait, Qatar, Saudi Arabia, UAE — Argus Analytics Mideast Gulf ports Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
India buys 145,000t of DAP at $775-781.50/t cfr
India buys 145,000t of DAP at $775-781.50/t cfr
London, 18 June (Argus) — Three Indian importers have bought a combined 145,000t of DAP at prices in a range of $775-781.50/t cfr. NFL bought 45,000t of DAP from a trading firm at $781.50/t cfr in its tender that closed on 13 June. The tender had sought black, brown or neutral-coloured DAP for shipment from the loading port by 30 June from memorandum of understanding (MOU) suppliers. The origin of the cargo sold is not yet confirmed. Two fellow Indian importers have each bought 50,000t of DAP at $775/t cfr for shipment in July from Saudi Arabian producer Ma'aden. The price for the Saudi Arabian DAP is in line with sales totalling 110,000t of DAP at $774.93-775/t cfr earlier this week. It would net back to the low-mid $760s/t fob. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Bangladesh’s BCIC seeks phosphoric acid in tender
Bangladesh’s BCIC seeks phosphoric acid in tender
London, 16 June (Argus) — State-owned Bangladeshi fertilizer producer and importer BCIC has issued a tender to buy 20,000t of phosphoric acid, closing on 4 August. BCIC is seeking offers for merchant-grade 52-54pc P2O5 acid for shipment to Chattogram. It wants the sale to be competed within 45 days from receiving the letter of credit. BCIC will close tenders to buy 10,000t and 20,000t of phosphoric acid on 17 June and 30 June, respectively. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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Insight papers - 03/04/25Low DAP stocks in India and challenging affordability hurdles prompt launch of new price forecast
Concise market insight paper analysing India's DAP market and pricing risk as well as a new price forecast from Argus
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