In China, phosphate export quotas for Q4 2023 are almost covered. According to market players, however, it is still possible to export about 200,000-300,000 t of fertilizers in December. Most producers offer DAP for shipments in November, but importers have reportedly requested shipments in December at $570-585/t FOB China.
The overall cargo turnover dropped by 139,000 t to 1.6 million t at the Riga Freeport in October, showing a decrease of 8% compared with September 2023.
As many as 3,500 wagons were moving to the Izov station on November 2, including 1,200 wagons with cakes, 457 wagons with vegetable oil, and 173 wagons with grain. About 1,600 wagons were on their way to the Mostyska-2 station on that date, including 900 containers.
The cargo turnover of the Port of Klaipeda increased by 1% in October compared with September.
This week, Brazilian consumers are showing moderate demand for phosphates, but suppliers have raised MAP prices due to limited export volumes. The latest sales deals for MAP 11:52/12:52 have been signed at $565/t C&F for shipments in December.
In late October-early November, Egyptian plants have been offering granular urea at $410-420/t FOB. AlexFert and MOPCO each have sold 5,000 t of granular fertilizer at $410/t FOB for shipments in November. Meanwhile, Abu Qir offers prilled urea at $400/t FOB.
The output of mineral fertilizers at the production facilities of the nitrogen holding company OSTCHEM of the Group DF reached a total of 1.57 million t in the period from January 1 to September 30, 2023. In particular, Cherkasy Azot produced 1.22 million t and Rivneazot 347,300 t of mineral fertilizers.
Trade has been slow on the urea market this week as players were waiting for the results of the Indian tender. On October 26, IPL has purchased about 1.7 million t of urea at $400/t and $404/t C&F India with shipments to the west and east coasts of the country, respectively.
Phosphate trade remains low in Brazil. The market is still seeing offers of MAP 11:52/12:52 at $540-50/t C&F. Some importers report a shift in shipping period of OCP-produced Moroccan fertilizers.
Up to 250 wagons were transferred daily through the Chop – Čierna nad Tisou land border crossing point as of October 26 (down 41 units in two weeks). In particular, 223 wagons were moving on export routes (down 35 units), while 27 wagons arrived with imported goods (down 6 wagons).