US DAP Monthly Spot Price (Gulf)
The US (Gulf) DAP Spot Price for February 2023 was recorded at US $612.5 per ton. This represents a decrease of 2.93% from January 2023’s price of US $631 per ton. Furthermore, the current price is 18% lower than the same period last year, which was US $747.13 per ton in February 2022.
DAP (diammonium phosphate) is a type of fertilizer that contains a high level of phosphorous, an essential nutrient for plant growth. The US (Gulf) DAP Spot Price is an important benchmark for the fertilizer industry, as it represents the cost of DAP at the Gulf of Mexico ports. This price is used to determine the value of DAP futures contracts and serves as a reference point for many other fertilizer contracts in the US and around the world.
The decrease in the US (Gulf) DAP Spot Price for February 2023 could be influenced by various factors such as changes in demand and supply, global market trends, weather conditions, and geopolitical events that may impact the production or transportation of the fertilizer.