General Information: Expansion of OCP capacity, falling DAP prices in India, approval of import requirements for DAP, MOP and TSP by Bangladesh Ministry of Agriculture and Ministry of Finance.
Capacity expansion of OCP in Morocco
Moroccan phosphate company OCP has announced a capacity expansion that will see OCP's fertilizer production expand to 20 million tons per year and phosphate ore production reach 70 million tons per year by 2027.
The company, which currently has a finished fertilizer capacity of about 12 million tons per year, also plans to increase phosphate ore production to 70 million tons per year by 2027.
The latest annual figures from industry body IFA show that OCP produced 38.1 million tons of rock in 2021. OCP will also aim to reach green ammonia production capacity of 1 million tons in 2027 and 3 million tons in 2032, as well as 30,000 tons per year of raw materials to produce lithium iron phosphate batteries.
Falling DAP prices in India
Indian CFR prices for DAP dropped to 571 USD per ton this week after a trading company sold 50,000 tons of DAP to importers.
Saudi Arabia's Maaden also sold 45,000 tons of DAP in the second half of April at a CFR price of over 570 USD per ton.
Bangladesh Ministry of Agriculture and Ministry of Finance Approve Import Requirements for DAP, MOP and TSP
Bangladesh Ministry of Agriculture and Ministry of Finance have approved import requirements for DAP, MOP and TSP for the fertilizer year 2023-24.
Total DAP imports will amount to 1.5 million tons, of which 675,000 tons will be purchased through annual private sector tenders and 825,000 tons will be purchased through the Bangladesh Agricultural Development Corporation (BADC) on a government-to-government contract.
Total MOP imports will reach 750,000 tons, of which BADC accounts for 500,000 tons on a government-to-government basis and the remaining 250,000 tons will be tendered by the private sector.
TSP shipments will reach 700,000 tons, with 300,000 tons coming from annual private tenders and 400,000 tons through BADC. total powdered MAP demand will reach 32,000 tons, with MAP typically purchased under private sector tenders. The fertilizer year lasts from April to March.
DAP situation in China and Kenya
Chinese DAP prices have dropped to 560-565 USD per ton this week. Kenyan DAP stocks were high. The planting season is now underway and demand for further imports will be low in the coming months.
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