Phosphoric acid: Trading
How one Indian buyer sets the world's quarterly price
How one Indian buyer sets the world's quarterly 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 fertiliser companies (Coromandel, IFFCO, Paradeep, Chambal, Deepak and others)
- Pakistani, Bangladeshi and Turkish fertiliser makers (indicative)
- Purified acid buyers in food and battery industries
Who sells, and from where
- OCP (Morocco)
- JPMC (Jordan)
- Nutrien (North America)
- Groupe Chimique Tunisien, ICS Senegal, Foskor (indicative)
Price benchmarks
| Benchmark | Publisher | Basis |
|---|---|---|
| Phosphoric acid CFR India quarterly contract ($/t P2O5) | Argus; CRU | quarterly contract, 30 days credit |
Exchanges
| Venue | Contract | Notes |
|---|---|---|
| none | no futures | DAP is tracked by the World Bank Pink Sheet; acid trades on contracts |
Contract types
- Quarterly price settlements with Indian buyers
- Long-term offtake from overseas joint ventures (OCP and JPMC JVs with Indian firms)
- Spot cargoes in rubber-lined tankers
Traders and distributors
- OCP direct sales
- Ameropa
- Fertiglobe and trading houses (indicative)
How Indian buyers price it
- Quarterly contract CFR India per t P2O5, settled first by one buyer (often Coromandel) and followed by others.
- Fertiliser makers' ability to pay is set by DAP maximum retail prices and NBS subsidy rates.
- No anti-dumping duty on phosphoric acid found.
Recent price points
| Date | Price | Basis | Source |
|---|---|---|---|
| Q1 2026 | $1,290/t P2O5 | CFR India contract (Coromandel-Nutrien) | Argus; Fertilizer Daily |
| Q2 2026 | $1,360/t P2O5 | CFR India contract (Coromandel-JPMC) | Argus (2026) |
| Q3 2026 | $1,700/t P2O5 | CFR India contract (Coromandel-JPMC) | Fertilizer Daily (6 Jul 2026) |
| Apr 2026 | $865/t | DAP CFR India, 15 kt cargo | Argus (2026) |
Good sources to follow
Argus phosphates newsfreemium research site · Argus MediaIndia phosphoric acid contracts and DAP prices
Fertilizer Dailyfreemium newsletter · Fertilizer DailyFertiliser price news including India acid settlements
Phosphates and Potash magazine (CRU BCInsight)paid research site · CRU GroupPhosphate technology and markets
USGS Phosphate Rock statisticsfree research site · US Geological SurveyWorld rock output, capacity and reserves