Indian diammonium phosphate (NPK:18-46-0) stocks rose by 268,000 tons last month as a small decline in sales led to a net increase in stocks despite a slowdown in Chinese imports and output. Diammonium phosphate (NPK:18-46-0) stocks could be as high as 2.8 million tons in early March, a net increase of 630,000 tons in the 12 months ending in February.
From January to February, China's exports of diammonium phosphate (NPK:18-46-0) rose 2% year-on-year to 370,000 tons, while shipments of monoammonium phosphate (NPK:11-55-0) more than tripled to 346,000 tons.
India led the way in lower phosphate fertilizer prices. Phosphate prices fell in both the eastern and western Suez Canal, with purchases limited to a few destination markets.
Diammonium phosphate (NPK:18-46-0) India CIF prices fell to 590-614 USD per ton from 614-615 USD per ton the previous week. Indonesian company Pupuk ended its diammonium phosphate (NPK:18-46-0) auction with the lowest offer at 565 USD CIF as of September shipments. Chinese diammonium phosphate (NPK:18-46-0) FOB prices fell to $590-$600 from $600-$605 the previous week.
In Europe, diammonium phosphate (NPK:18-46-0) I slipped to around $700. West of Suez, mobility was mainly confined to Argentina, where prices fell to $650-$660 CIF.
Brazilian monoammonium phosphate (NPK:11-55-0) prices fell to $620-$630 CIF and 19% calcium superphosphate prices fell to $230-$240 CIF.
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