Phosphates: Brazilian MAP imports recover in April

Brazil's MAP imports in April reached their highest level so far this year, buoyed by plentiful supply from Russia and demand ramping up ahead of the main season.

Brazil imported 378,147t of MAP in April, of which Russia accounted for nearly 260,000t, Morocco 67,000t and Saudi Arabia 51,500t. Year-to-date imports for the January to April period reached 1.025mn t, of which Russia accounted for 76pc, Morocco 15pc and Saudi Arabia 6pc.

The main changes compared with 2023 are the nearly 600,000t fall in total MAP imports compared to last year. Russia has actually raised its market share from nearly 52pc last year to 76pc. Otherwise, Moroccan MAP exports fell from nearly 500,000t in 2023 to 158,000t, while US exports fell nearly 120,000t year-on-year. Saudi MAP exports almost halved from 109,000t in the first four months of 2023. Chinese MAP exports fell from over 37,000t in 2023 to just 9,000t in 2024.

Several reasons explain the changes. Overall imports are down on an exceptionally high first four months of 2023. Average imports for the last five years were around 1.15mn t, imports for 2024 are on par. Moroccan producer OCP concentrated more on DAP shipments to India east of Suez as well as MAP shipments to Australia. High domestic prices in the US cut export availability and pulled in non-Russian and non-Moroccan cargoes from other markets.

Saudi producers also concentrated more on DAP markets in India with Chinese phosphate supply out of play. Chinese producers concentrated more on the domestic market and faced customs inspections, which limited export availability for phosphates.

By Mike Nash