# Phosphoric acid: Trading

How one Indian buyer sets the world's quarterly price

Source page: https://www.materialinsights.org/chemicals/phosphoric_acid/trading/

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 news](https://www.argusmedia.com/en/news-and-insights/latest-market-news/2811740-phosacid-settles-at-1-360-t-p2o5-cfr-india-for-2q26)freemium research site · Argus Media

India phosphoric acid contracts and DAP prices
[Fertilizer Daily](https://www.fertilizerdaily.com/20260706-india-phosphoric-acid-price/md/)freemium newsletter · Fertilizer Daily

Fertiliser price news including India acid settlements
[Phosphates and Potash magazine (CRU BCInsight)](https://www.bcinsight.crugroup.com/)paid research site · CRU Group

Phosphate technology and markets
[USGS Phosphate Rock statistics](https://www.usgs.gov/centers/national-minerals-information-center/phosphate-rock-statistics-and-information)free research site · US Geological Survey

World rock output, capacity and reserves

## Other sections

- [Summary](https://www.materialinsights.org/chemicals/phosphoric_acid/index.md)
- [Overview](https://www.materialinsights.org/chemicals/phosphoric_acid/overview/index.md)
- [Correlation](https://www.materialinsights.org/chemicals/phosphoric_acid/correlation/index.md)
- [Production route](https://www.materialinsights.org/chemicals/phosphoric_acid/routes/index.md)
- [Production](https://www.materialinsights.org/chemicals/phosphoric_acid/production/index.md)
- [Feedstocks](https://www.materialinsights.org/chemicals/phosphoric_acid/feedstocks/index.md)
- [Cycles](https://www.materialinsights.org/chemicals/phosphoric_acid/cycles/index.md)
- [Movement](https://www.materialinsights.org/chemicals/phosphoric_acid/movement/index.md)
- [Regulation](https://www.materialinsights.org/chemicals/phosphoric_acid/regulation/index.md)
- [Characteristics](https://www.materialinsights.org/chemicals/phosphoric_acid/characteristics/index.md)
- [Emissions](https://www.materialinsights.org/chemicals/phosphoric_acid/emissions/index.md)
- [Relationships](https://www.materialinsights.org/chemicals/phosphoric_acid/links/index.md)