India Contracts 1.35 Million Tons of Phosphate at $930-$935 a Ton, 40% Above Pre-War Prices
Updated
Updated · Bloomberg · May 12
India Contracts 1.35 Million Tons of Phosphate at $930-$935 a Ton, 40% Above Pre-War Prices
1 articles · Updated · Bloomberg · May 12
1.346 million tons of diammonium phosphate were booked by India for west and east coast delivery, marking a major purchase by the world’s top buyer.
$930 a ton for 705,000 tons on the west coast and $935 for 641,500 tons on the east coast put the cargoes nearly 40% above pre-war price levels.
Middle East conflict has disrupted fertilizer supplies and driven global phosphate benchmarks higher, lifting import costs for India’s crop nutrient purchases.
Indian Potash Ltd., which imports fertilizer for the government and other companies, arranged the contracts for the shipments.
Will soaring import costs finally force India to reform its massive fertilizer subsidy program?
With the Strait of Hormuz blocked, how will India secure fertilizer for its critical monsoon season?
Beyond India, which nations are most vulnerable to a food crisis from this fertilizer supply shock?