Phosphate fertilizers are essential for agricultural production, as they promote crop growth and enhance both yield and quality, thereby ensuring food security. Against the backdrop of global population growth, a stable supply of phosphate fertilizers plays a critical role in safeguarding global food security.

In 2025, MAP averaged around 690.30 USD/t, up 14.53% year-on-year. Key drivers include continued Chinese fertilizer export restrictions and affected the global supply of fertilizer, higher input costs(especially sulfur) to increase the production cost, and producer reallocation- some capacity switched to DAP for arbitrage into India.

Brazilian fertilizer demand exceeded 49 million tonnes in 2025, up 7.7% year-on-year, as farmers intensified inputs to lift yields on expanding soy, corn and cane acreage. Facing high MAP prices, Brazilian farmers shifted to lower-analysis alternatives like SSP. Total Brazilian fertilizer imports hit around 45 million tonnes in 2025, a record high.