DAP and MAP: Trading
Why India's purchases set the world's DAP price
Why India's purchases set the world's DAP price What this tab covers How it is bought and sold: buyers and sellers, price benchmarks and who publishes them, exchanges, contract types, traders, how Indian buyers price it, recent price points, and good sources to follow.Who buys, and where
- Indian importers (IPL, NFL, Chambal, IFFCO) buying cargoes CFR India
- Brazilian distributors buying MAP CFR Brazil
- US co-operatives and dealers at NOLA barge prices
- Pakistan and Bangladesh state tenders
Who sells, and from where
- OCP from Jorf Lasfar and Safi
- Ma'aden from Ras Al Khair
- PhosAgro and other Russian sellers from Baltic and Black Sea ports
- Chinese producers during export windows
- Mosaic and Nutrien in North America
Price benchmarks
| Benchmark | Publisher | Basis |
|---|---|---|
| DAP spot FOB US Gulf | World Bank Pink Sheet (from Green Markets / Bloomberg) | monthly average |
| DAP bulk CFR India | CRU, Argus | spot, weekly |
| MAP granular CFR Brazil | CRU, Argus | spot, weekly |
| DAP FOB NOLA barge | CRU, Green Markets | spot, $ per short ton |
Exchanges
| Venue | Contract | Notes |
|---|---|---|
| No Indian exchange contract | none | prices set by tenders and controlled MRP |
Contract types
- Spot cargoes CFR India or FOB Morocco/Saudi
- Long-term supply agreements and offtake from Moroccan and Jordanian joint ventures
- Quarterly phosphoric acid contracts
- Indian retail at controlled MRP with NBS subsidy per kg of N and P2O5
Traders and distributors
- OCP (direct)
- Indian Potash Ltd
- Ameropa
- Keytrade
How Indian buyers price it
- Import parity CFR India: $699-709/t in mid-November 2025 (CRU), $814/t peak in August 2025
- NBS subsidy per tonne of DAP: a theoretical rise from Rs 27,800/t ($313) to Rs 29,805/t ($336) for rabi 2025-26 (CRU, Nov 2025); Kharif 2026 P&K subsidy budget about Rs 41,534 crore (Cabinet, Apr 2026)
- Farm MRP held at about Rs 1,350 per 50 kg bag with special packages on top of NBS (indicative, press reports 2024-25)
Recent price points
| Date | Price | Basis | Source |
|---|---|---|---|
| Sep 2026 | $800.6/t | spot FOB US Gulf, monthly average | World Bank Pink Sheet (Oct 2026) |
| 2025 average | $685.2/t | FOB US Gulf | World Bank Pink Sheet |
| 13 Nov 2025 | $699-709/t | CFR India | CRU |
| Aug 2025 | $814/t | CFR India (peak) | CRU |
| 13 Nov 2025 | $645-650/t | MAP CFR Brazil | CRU |
Good sources to follow
World Bank Commodity Markets (Pink Sheet)free research site · World Bank Prospects Groupmonthly DAP, rock, TSP and urea prices
Fertilizer Dailyfree newsletter · independent fertiliser news siteIndia tenders, subsidy and import costs
farmdoc dailyfree blog · University of IllinoisDAP affordability versus crop prices
CRU fertiliser insightsfreemium research site · CRU GroupDAP/MAP price commentary and outlook
IFA (International Fertilizer Association)freemium research site · global industry bodyworld supply, demand and capacity