Key facts
- India's third-quarter phosphoric acid import price settled at $1,700/t P2O5 cfr.
- The price is up $340/t from the second quarter.
- The increase is attributed to a 49% rise in dry bulk sulphur prices to India during the second quarter.
- Coromandel International and Jordanian producer JPMC agreed to the settlement.
- The deal includes 30 days of credit.
India's third-quarter phosphoric acid import price has settled at $1,700 per ton P2O5 cfr, marking a substantial increase of $340/t from the second quarter. This rise is primarily attributed to a significant surge in sulphur prices, which climbed by 49% during the second quarter for dry bulk deliveries to India.
The settlement was reached between Indian importer Coromandel International and Jordanian producer JPMC, with terms including 30 days of credit for the third-quarter deliveries.
In the second quarter, the phosphoric acid price was $1,360/t P2O5 cfr, an increase of $70/t from the first quarter's price of $1,290/t P2O5 cfr. The second-quarter price was influenced by firm diammonium phosphate (DAP) and sulphur prices, though tempered by high ammonia costs and tight availability. Earlier in the year, an Indian importer purchased 15,000 tons of DAP at $865/t cfr, pushing the Indian DAP price up by 29% since January. Sulphur prices delivered to Indian ports had risen by nearly 30% over the same period, while ammonia prices increased by approximately 41%.
Despite price increases, demand for phosphoric acid in India remains robust, supported by firm global market conditions and consistent import volumes. Jordan, Morocco, and Senegal are the primary sources of supply for India.