Saudi Arabian phosphates producer Ma'aden has sold 30,000 tonnes of Diammonium Phosphate (DAP) to a Pakistani importer at approximately $615 per tonne, cost and freight (cfr), for shipment scheduled in August. This price reflects a net back to the low-mid $600s per tonne free on board (fob) from Ras Al-Khair.
While the deal has been reported, sources indicate that it has not yet been finalized. Recent data from the National Fertilizer Development Centre (NFDC) shows that Pakistan's DAP stocks decreased by over 50,000 tonnes by the end of June. However, slow purchasing from India allowed Pakistan to secure between 110,000 and 115,000 tonnes of DAP last week at prices ranging from $605 to $610 per tonne from suppliers in China, Morocco, and Australia.
Earlier this month, Ma'aden also sold 25,000 tonnes of DAP to the Pakistani importer Engro for prices in the low-mid $560s per tonne cfr, which netted back to the high $540s per tonne fob.
