Several Indian fertilizer importers have secured more Saudi Arabian diammonium phosphate/nitrogen, phosphorus, and sulfur (DAP/NPS) and Moroccan DAP and triple superphosphate (TSP) through offtake agreements.
The agreements come at a time when India has struggled to maintain comfortable DAP inventories, largely because of a lack of supply from China, which has drastically reduced its phosphates exports in 2025.
Indian DAP stocks fell throughout June to begin July well below typical levels, at about 1.56 million t, according to provisional data.
Five-year deal with Saudi Arabia
Indian importers IPL, Kribhco, and Coromandel have signed an offtake agreement with Saudi Arabia for 3.1 million tpy of phosphates over the coming five years.
The quantity will mostly be DAP but also includes NPS.
The deal covers five years starting from India's 2025 - 26 fiscal year (April - March), and includes an option for a five-year extension.
The delegations discussed developing customised fertilizers specifically for India and have established a joint working group to explore long-term collaboration.
The cargoes will be priced on a spot basis.
The agreed quantity will surpass the 1.88 million t of DAP and 250 000 t of NPS – totalling 2.13 million t – that India imported from Saudi Arabia over the 2024 calendar year, according to Argus line-up data.
Most of the product will come from Saudi Arabia's largest phosphates producer, Ma'aden. The agreement stands as an additional memorandum of understanding (MoU) between Ma'aden and its regular Indian private and public-sector offtakers, with whom Ma'aden has existing MoUs including for supply and product development.
Additional DAP, TSP from Morocco's OCP
Six Indian importers have signed another agreement with Moroccan producer OCP for the supply of DAP and TSP up to the end of the current calendar year, Argus understands. This brings the total agreed quantities between Morocco and India to 1.5 million t of DAP and 1 million t of TSP.
The latest agreement is for an additional 300 000 t of DAP and 200 000 t of TSP, adding to the 1.2 million t of DAP and 800 000 t of TSP agreed in April.
The cargoes will be priced on formula.
The importers are IPL, NFL, Hurl, PPL, RFC, and Fact.
OCP did not comment on the deal.
India has imported 730 000 t of DAP and 285 000 t of TSP from Morocco since the beginning of April. India has so far not taken TSP from any other origin since it began importing the product in June 2024.
Original article by Tom Hampson, Argus Media. Find the original story here.