Profercy Phosphate Price Report 10 Feb 2011
Opening para on Pg1:
"Global Phosphates Position
Global phosphates prices are up for a third consecutive week. The market is moving on robust demand, as booming crop prices support lucrative farm economics. Many importers are moving quickly to pre-empt Indian contract settlements. Add to this the short-term impact of output trouble in Tunisia, administrational jams in Egypt, inventory damage in Australia, and buyer concern is intensifying. World pipeline supply was laready thin.
Pg 3:
Europe: The highest DAP price to date is $618-620 pt FOB Jorf, up from the first EU business for Feb at $610 pt FOB. A final 10,000t from the full 40,000t allocation to Europe is offered at $625 pt FOB plus.
Mexico: Fertinal is heard sold out through April and into early May...
Tunisia: GCT has said it is continuing with TSP production at Sfax but it is thought to be using more rock than can be replaced.
Pg 4:
Turkey: Bagfas is now sold out for Feb/March exports..."
Very encouraging to see such strong gains in DAP prices based on increasing demand against supplies that are thinning. And as grain prices strengthen further, history suggests phosphate prices will keep following it northward.
A good weekend to all.
phosphate price update 10 feb 2011
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