Phosphoric Acid Price reached $1,290/t P2O5 cfr in the first-quarter contract between Coromandel International and Nutrien. Coromandel International agreed the quarterly Phosphoric Acid Price with 30-days’ credit terms. The settlement shows stable contract pricing in the fertilizer raw-materials market.
Coromandel International imports phosphoric acid for fertilizer production in India. The company settled the price with Nutrien, a major North American producer. The contract price matches the fourth-quarter agreement between Coromandel International and Jordan Phosphate Mines Company (JPMC).
Fertilizer market conditions in India remain mixed. Import prices of diammonium phosphate (DAP) have declined sharply since October. DAP prices have dropped by more than $100/t during this period. Phosphoric acid remains a key raw material in DAP production.
Rising sulphur prices continue to influence production costs. Suppliers increased dry bulk sulphur prices delivered to Indian ports. Prices rose by nearly $190/t at the midpoint during the same period. Sulphur is an essential feedstock for phosphoric acid production.
Stable phosphoric acid contract pricing reflects the balance between weak fertilizer prices and strong raw-material costs. Buyers and suppliers continue to monitor raw-material trends closely. Changes in sulphur and phosphate rock prices may influence future contracts.
India remains one of the largest fertilizer raw-material importers in the world. Quarterly contract settlements often act as market benchmarks. The Coromandel International agreement with Nutrien may guide future negotiations in the Indian fertilizer sector.
Nutrien has not confirmed the settlement yet.
