Prices of Di Ammonium Phosphate in India increases in March
Recently, DAP (Diammonium Phosphate) prices increased significantly in March, amidst stable to low demand from the agriculture sector as this is Rabi’s harvesting season in India. As per ChemAnalyst data, Diammonium Phosphate prices on CRF basis in March is INR 68.2/kg. Factors influencing price fluctuations are less import volume, increased supply in the regional market and strong buying activities in the region amidst stockpiling activities ahead of anticipated demand during the spring season. Prices of upstream Natural gas continue to rise on the back of Russia – Ukraine conflict. Consequently, feedstock Ammonia prices are also increasing owing to high demand from the downstream sector coupled with soaring input costs. The price of Natural Gas surges to 2% i.e., INR 330720 per thousand MMBtu, in the Indian market, whereas the Ammonia feed prices increases by 4% in March. Feedstock Phosphoric acid in India is witnessing an upward trend and prices are increasing continuously. There h...