MAP Market Was Noted Drowsy in Both Domestic Market and Overseas Market

By CnAgri2012-07-13 13:17:31 Print

The producer’s price of MAP is RMB2,650 ~ 2,680/MT (powder with 55% nutrient), lower than last month, attributable to soft demand both at home and abroad.

MAP exports were less than 24,000 MT in January and February, a slip of 80% on the year-on-year basis. MAP exports recorded zero in March ~ May. The international MAP market is dominated by products with 60% nutrient, but the Chinese products generally have only 55% nutrient.

In terms of indirect MAP exports, NP compound fertilizer exports registered 383,000 MT in January ~ May, a drop of 8.7% on the year-on-year basis.

MAP market may experience a recovery in the next few months. To prepare for wheat sowing in the fall, compound fertilizer plants are expected to run at higher capacity in the third quarter. To do this, compound fertilizer plants have to enlarge purchase of MAP. Moreover, high phosphorite price and MAP producers’ reduction of production may help prop up MAP price.

From "China Fertilizer Market Weekly Report"