Indian Potash Limited highlights DAP import prices of $607-620 per ton

Indian Potash Limited (IPL) has issued a clarification statement to the media regarding recent reports by S&P Global on the import prices of Diammonium Phosphate (DAP) in India. IPL disputes the figures presented in the last three issues of S&P Global’s Fertecon reports dated August 22, 29, and September 5, 2024.

According to these reports, the CFR (Cost and Freight) prices for DAP ‘duty unpaid’ were listed as ranging from $620 to $636 per metric ton. IPL contends that these figures are incorrect, stating that India did not import DAP during the relevant period at prices exceeding $620 per ton. The actual prices, according to IPL, ranged from $607 to $620 per ton, with $620 being the upper limit.

The discrepancy arose from S&P Global’s mention of IPL’s DAP imports from Australia as the basis for their price assessment. However, IPL clarifies that these imports are exempt from Customs Duty under the Free Trade Agreements between India and Australia, making the bracketing of ‘duty exempt price’ with ‘duty unpaid price’ misleading.

IPL’s press note aims to correct the record and prevent any misinterpretation of Indian DAP prices in the global market.