Analysis of China's Phosphate Fertilizer Import and Export Data for October 2023
According to customs data, in October 2023, China's monoammonium phosphate (MAP) exports amounted to 159,000 tons, a decrease of 1.84 thousand tons, or 10.40% year-over-year (YoY); an increase of 7.15 thousand tons, or 81.66% month-over-month (MoM). The average export price for the month was $498.34 per ton. From January to October 2023, the cumulative export total was 1,695,600 tons, an increase of 17,400 tons, or 1.04% YoY.
Furthermore, in October 2023, China’s MAP imports were 0.20 tons, a decrease of 360.30 tons, or 99.94% YoY; an increase of 0.05 tons, or 33.33% MoM. The average import price for the month was $6.87 per ton. From January to October 2023, the cumulative import total was 401.19 tons, an increase of 39.18 tons, or 10.82% YoY.
The top four countries importing MAP from China in October 2023 were India, Mexico, Brazil, and Bangladesh, accounting for 20%, 19%, 13%, and 9% of the total exports, respectively.
For diammonium phosphate (DAP), customs data shows that in October 2023, China exported 440,800 tons, a decrease of 6.27 thousand tons, or 12.45% YoY; an increase of 7.86 thousand tons, or 21.70% MoM. The average export price for the month was $540.17 per ton. From January to October 2023, the cumulative export total was 4,053,100 tons, an increase of 927,400 tons, or 29.67% YoY.
Moreover, in October 2023, China’s DAP imports were 0.55 tons, an increase of 0.35 tons, or 177.00% YoY; an increase of 0.27 tons, or 97.86% MoM. The average import price for the month was $5,359.21 per ton. From January to October 2023, the cumulative import total was approximately 25.38 tons, a decrease of 302.48 tons, or 92.26% YoY.
The top seven countries importing DAP from China in October 2023 were India, Vietnam, Bangladesh, Ecuador, the Philippines, Japan, and Chile, accounting for 58%, 13%, 13%, 5%, 4%, 3%, and 2% of the total exports, respectively.
