November 2023 Phosphate Fertilizer Production and Operating Rates
Monoammonium Phosphate (MAP) Production:
In November 2023, domestic MAP production was approximately 986,400 tons, a decrease of 1,300 tons from the previous month, down 0.13% month-on-month; an increase of 247,000 tons from the same period last year, up 33.41% year-on-year. From January to November 2023, the cumulative MAP production was 9,676,100 tons, an increase of 561,400 tons from the same period last year, up 6.16% year-on-year. This month, the production slightly decreased compared to the previous month due to the gradual commissioning of previously under-maintenance units and the delayed resumption of production by large factories until the end of the month. Additionally, factories in Sichuan operated at lower loads due to environmental protection production restrictions, resulting in relatively lower production.
MAP Operating Rate:
In November 2023, the domestic MAP industry's operating rate was approximately 57.92%, up 4.48% month-on-month, and up 11.43% year-on-year. From January to November 2023, the average operating rate for the MAP industry was about 54.43%, up 1.52% year-on-year.
Diammonium Phosphate (DAP) Production:
In November 2023, domestic DAP production was approximately 1,067,000 tons, a decrease of 69,000 tons from the previous month, down 6.07% month-on-month; an increase of 200,300 tons from the same period last year, up 23.11% year-on-year. From January to November 2023, the cumulative DAP production was 12,804,600 tons, an increase of 1,429,900 tons from the same period last year, up 12.57% year-on-year. This month, enterprises focused on executing previously approved export orders and a few domestic orders, with a reduced production due to relative raw material shortages, leading to domestic supply tightness.
DAP Operating Rate:
In November 2023, the domestic DAP industry's operating rate was approximately 49.26%, down 0.80% month-on-month, and up 4.56% year-on-year. From January to November 2023, the average operating rate for the DAP industry was about 57.12%, up 7.38% year-on-year.
