China Export Ban Lifts Phosphate

There is uncertainty in the global processed phosphate market on the back of tight supplies and China’s absence from the market. Tight phosphate supplies are leading to higher prices after strict export restrictions brought exports to a halt. Even already-cleared cargoes still at the factory gates are now said to be prevented from export.

DAP prices in China for export are said to be around USD 580-585/tonne FOB but this appears to be a nominal price since no new exports are taking place. It is now expected that China’s exports could be restricted well into 2024.