During Q1 2024, Monoammonium Phosphate (MAP) prices had risen up to 562 USD/MT CFR Brazil, marking a 1.14% increase from Q4 2023. This modest uptick is consistent with typical seasonal trends, as Q1 often sees heightened demand ahead of planting seasons1. 
The slight price increase likely reflects a combination of factors: tightening global supply due to production or logistical constraints, and steady demand from Brazilian farmers preparing for the next crop cycle.
Additionally, global fertilizer markets often experience price volatility influenced by geopolitical events and changes in raw material costs, which can contribute to gradual price movements even when demand is not exceptionally strong123. This stability and gradual rise indicate a balanced market with cautious procurement.Â
Q1 2024Â
During Q1 2024, Monoammonium Phosphate (MAP) prices have increased to USD1620/MT CFR JNPT (MAP: 11-62-0), marking a 38% rise from Q4 2023. Strong agricultural demand in India, coupled with elevated input costs and export-side constraints, have contributed to the price surge. Logistics and shipping inefficiencies have further tightened availability, amplifying the upward momentum in landed pricing.Â
During Q2 2024, Monoammonium Phosphate (MAP) prices had risen up to 589 USD/MT CFR Brazil, marking a 4.68% increase from Q1 2024. This increase can be attributed to global fertilizer supply constraints, heightened demand ahead of Brazil’s key planting seasons, and rising freight and insurance costs due to ongoing logistical challenges.
The uptick also reflects regional procurement patterns, as buyers may have accelerated purchases to secure product before anticipated price hikes. These dynamics are typical in fertilizer markets where seasonal demand and global supply disruptions often lead to quarterly price volatility, especially in import-dependent regions like Brazil.Â
Q2 2024Â
During Q2 2024, Monoammonium Phosphate (MAP) prices have risen to USD1834/MT CFR JNPT, registering a 12% increase from Q1 2024. The market has responded to increased pre-planting demand, tighter raw material availability, and constrained global supply chains. These conditions have reinforced upward price pressure, supported by higher import costs and limited international stock availability.Â
During Q3 2024, Monoammonium Phosphate (MAP) prices had risen up to 632 USD/MT CFR Brazil, marking a 7.5% increase from Q2 2024. This surge is primarily explained by tightening global supply conditions and heightened seasonal demand ahead of Brazil’s main planting period. Increased geopolitical risks and logistical disruptions likely contributed to higher freight and insurance costs, pushing up landed prices.
Additionally, regional procurement strategies—such as delayed purchases by Brazilian buyers in previous quarters—may have led to a short-term supply squeeze, further driving prices upward. The market reflects the interplay of global supply constraints and robust seasonal demand, which together supported the notable quarterly price increase.Â
Q3 2024Â
During Q3 2024, Monoammonium Phosphate (MAP) prices have dropped to USD1575/MT CFR JNPT, representing a 14% decline from Q2 2024. Increased supply volumes from the UAE have been a contributing factor, alongside a measured slowdown in Indian demand. Competitive market conditions and adjusted procurement strategies have also played a role in shaping this price movement.Â
During Q4 2024, Monoammonium Phosphate (MAP) prices held steady at 632 USD/MT CFR Brazil, matching the Q3 2024 level and signaling stability throughout the quarter. This price consistency is attributed to a balance between supply and demand: while Brazil’s P2O5 stocks rose significantly due to increased imports of lower-grade phosphate fertilizers, demand for higher-grade MAP remained subdued, preventing sharp price swings.
Additionally, limited prompt availability and firm DAP demand in other markets helped sustain MAP prices, offsetting pressures from rising inventories and weak farmer affordability. The market’s stability reflects cautious procurement amid uncertain crop economics and global fertilizer price trends.Â
Q4 2024Â
During Q4 2024, Monoammonium Phosphate (MAP) prices have declined to USD1056/MT CFR JNPT, marking a 16% decrease from Q3 2024. The price reduction has been primarily influenced by increased export availability, particularly from the UAE, supported by efficient supply chains. The period has also seen a moderation in demand, with buyers exhibiting caution amid expectations of continued price softness.Â