The ARGUS Brazil MAP cfr price assessment
The Brazil MAP cfr price is a leading assessment for 11-52 prices west of Suez. Brazil is the world’s largest MAP importer by a considerable margin. Moreover, all major phosphate suppliers compete in this market.
Advantages of the ARGUS Brazil MAP cfr price assessment
The Brazil MAP cfr price is widely used in both spot and formula shipments from a variety of origins, such as Morocco, the US, Russia, Saudi Arabia and China. Cargoes priced on formula are increasingly common, as suppliers integrate further down the supply chain in Brazil through mergers and acquisitions. Trading firms also use the price assessment for procuring cargoes on a fob basis. The assessment drives the price in neighbouring countries, particularly Argentina, which typically trades at a $5-8/t premium because of freight logistics. There is a high degree of correlation between the two prices.
Users of the ARGUS Brazil MAP cfr price assessment
Brazilian importers and distributors, all global phosphate suppliers and global and regional trading firms take great interest in this price. Saudi producers sell on a formula basis to Brazil based on this price as do trading firms.