After three weeks in a downward trend, prices of MAP (phosphate fertilizer) rose in the foreign market, Globalfert says. According to analysts, the quotes follow world demand growth. “India has been the major buyer of phosphates now for the ongoing Kharif crop plantings, and China has been negotiating large volumes to the country, increasing export prices as there is no offer on the spot. Bangladesh and Pakistan are also buying on the rise”, Globalfert explains. The government of India has hiked the subsidy on DAP fertilizer, which may well boost imports. The cost of raw materials has also influenced the price of phosphates in recent weeks. In Brazil, purchases of agricultural inputs increased in the beginning of the year: “The appreciation of commodities, especially corn and soybeans, has driven producers to invest in crops, so that the consumption of fertilizers has been significant.”
Sources: GlobalFert / Agrolink (*Translated by Ia Niani)