Phosphoric Acid Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Phosphoric Acid in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Phosphoric Acid Price Trend for the First Half of 2023


Phosphoric Acid had a stable start at the beginning of the first quarter with a stable supply–demand dynamic. But as the inventories kept getting utilized and the demands stayed steady, the prices started picking up at the shift of quarters.

The prices increased by almost 19% in the Indian domestic market by the beginning of the second quarter. But, as the suppliers fuelled up production to procure these improved profit margins, the stocks again started piling up because of oversupply, whereas the demands remained steady, so the market momentum again shifted south. And price trends remained on these sliding curves for the rest of the second quarter.


The European market witnessed some market normalization in the discussed time frame. Previously, the prices had risen to unsustainable highs in the previous couple of quarters because of the heightened crude oil prices and inflation owed to the Russia – Ukraine conflict, which disturbed the supply chains and hampered global energy security. So, Phosphoric Acid prices slid consistently in the first half of 2023 as the production and upstream costs reduced. Prices in the United Kingdom went from about 1765 UDS/MT (CIF, 75%) in January 2023 to around 1500 USD/MT (CIF, 75%) in June 2023, with an approximate declination of about 15% within the discussed time limit.

North America

The North American market almost replicated the sliding trends of the European Phosphoric Acid market as the prices remained on a downhill trajectory throughout the first half of 2023. Since the inventories were high, the downstream demands remained limited.

Analyst insight

According to Procurement Resource, the Phosphoric Acid prices are expected to continue to slide in the upcoming months owing to low-cost support, high inventories, and low upstream costs.

Phosphoric Acid Price Trend for the Year 2022


For the Asian market, the phosphoric acid price trends started with an inconclusive inclination. But as the year-end approached the prices showed a downward trajectory. The year 2022 started with a void in the fertilizer market because of the Russia- Ukraine conflict. So, the countries like China constricted exports initially but demands sustained so the prices went high. But around Q3 the raw material prices had started falling and market demand too took a plunge. This resulted in an overall downward trajectory of phosphoric acid prices towards the end of 2022.


The Phosphoric Acid price trends for the European market had a mixed run during H2, 2022. Initially, curtailed supply chains and good demands from downstream markets kept a fair market sentiment. However, as the year-end approached a restoration of supply chains increased imports filling up the stocks. Whereas the downstream demands started reducing shifting the overall Phosphoric Acid price trends to the lower end for the European market.

North America

Since the beginning of the year 2022, the Chinese zero covid policy and rising inflation due to Russia – Ukraine conflict remained the biggest detrimental factors for industrial price trends. For phosphoric acid, too, Russian, and Ukrainian exports were off the market and China curbed the supply chains, so around the middle of the year, an upward inclination in price trends was certain because food prices had taken a major hike fertilizer was essential to increase food production. But heading towards Q4 phosphoric acid supplies returned to the market and demand started subsiding a little bit, overall, the supply-demand dynamics improved resulting in an eventual normalization of price trends.

Analyst Insight

According to Procurement Resource, the phosphoric acid price trends are going to be swinging at the lower end. As the phosphoric acid market is enriched with sufficient supplies, demand is going to be the driving factor for phosphoric acid price trends.

For the Fourth Quarter of 2021


In October, the market remained mostly constant, with some modest decreases in quotations based on their own inventory situation. There were few companies quoting in the market on the first day following the holiday, but the price of the raw material phosphorus yellow was momentarily steady, and most companies had no quotations. Because there was some replenishment demand in the downstream, phosphoric acid prices remained high.

North America

The market in North America remained consolidated in the fourth quarter of 2021, with manufacturer offers fluctuating throughout the period. The main cause for this market shift can be linked to the low reliance on Chinese suppliers for fertiliser exports as well as enough domestic production. The North American demand outlook was bolstered by a paradigm change in the chemical’s market trend from fertilisers to electric vehicles. As a result, the FOB USA quarterly average was set at 1650 USD/MT at the end of the quarter.

Middle East and Africa

Office Cherifien des Phosphates (OCP), a Moroccan producer, agreed to 1,330 USD/MT CFR phosphoric acid contracts with its joint venture partners for Q4 delivery to India. The price was up 70 USD/MT from the third quarter's CFR price of 1,160 USD/MT, making it the sixth increase since WHO designated COVID-19 a pandemic.

For First, Second and Third Quarters of 2021


Due to the poor performance of the Asian fertiliser sector during this time, local demand for the chemical in the region remained low. Despite increased demand from European countries, the buying trend in the region remained strong. To guarantee larger profits, several manufacturers chose to export rather than keep it for the home market. The closure of the Suez Canal had an influence on regional trade. Several shipments of the chemical were delayed during this time. Phosphoric acid prices grew by 4.8% in the Indian market from January to March.

The price of yellow phosphorus rose in July, owing to electricity rationing in Yunnan, due to which phosphoric acid prices also increased. In August, demand for the chemical in India remained high, backed by strong offtakes from domestic DAP factories, while supply remained insufficient to meet demand.

Its scarcity caused a spike in the overall price of various phosphate fertilisers in India, where the government was attempting to limit downstream fertiliser prices to relieve home farmers of the burden. In the third quarter of 2021, the (fertiliser grade 51.75%) price was recorded at 1220 USD/MT.


Due to the spring season, Europe's domestic fertiliser sector saw a reasonable demand, while domestic supplies remained insufficient to meet overall domestic demand. As a result, import demand in the region remained high, causing phosphoric acid prices to effectively climb. Meanwhile, a severe cold spell in the United States decreased the availability of phosphoric acid in the region, prompting traders to shift their reliance from the United States to Asian countries.

The price increased in key European countries the second quarter, owing to strong demand from the downstream fertiliser business. Following severe weather conditions in the previous quarter, Europe's agrochemicals sector showed signs of recovery. The price of the chemical rose as a result of the increased demand from fertiliser makers. Furthermore, as a result of the global price increase, cargoes arriving in Europe from Asia were also quoted high, exacerbating the overprice problem.

North America

During Q1 2021, freezing weather disrupted production activities across the US Gulf, resulting in a large spike in phosphoric acid costs. Due to freezing weather and poor crops, demand from the fertiliser sector remained low over the period. Meanwhile, throughout the spring season, export demand from European countries was high, despite the fact that trading activity was largely halted. Phosphoric acid prices in the United States increased from 615 USD/MT in January 2021 to 645 USD/MT in March 2021. They rose across North America, owing to strong demand from both the domestic and worldwide markets.

Demand from downstream fertiliser manufacturers was strong throughout the quarter, as the domestic farming sector picked up steam in May and June. Furthermore, high DAP demand from European and Asian countries pushed up worldwide demand, supporting the pricing curve's upward trajectory. Phosphoric acid prices peaked in the first week of June, hovering about 690 USD/MT in the United States.

For the Year 2020


Due to its usage in the production of phosphate fertilisers, the chemical’s demand in the Asian market from countries such as China and India remained consistent in Q4. A major player reported increased operating rates at its White Phosphoric Acid (WPA) factory in China, with commercial food-grade acid production expected to begin by the end of Q1 2021.

The regional offers were kept in an appropriate range due to pent-up demand from the textile and sugar sectors mills. The price of phosphorus remained consistent, ensuring stable phosphoric acid prices. In Q4 of 2020, Indian businesses reported increased utilization of the chemical in a variety of industrial applications, with local pricing hovering around 713 USD/MT.


In Europe, the prognosis for phosphoric acid had been rather stable. Players reported significant demand in the European region, with consumers aggressively replenishing to make purchases for the spring season, hence phosphoric acid prices were raised. Because the fertiliser industry was the least affected by the pandemic, its large usage in the production of phosphate fertilisers raised demand in Q4 of 2020. Imports of WPA were found to be high, owing to a significant improvement in food grade phosphates and stable industrial salts.

North America

The demand for the chemical increased as crop yield in the United States improved. It remained significantly above producer projections despite multiple government attempts to bolster the stressed economy. In the fourth quarter of 2020, North American phosphoric acid sales were stable, with product prices maintained at higher levels to offset prior losses. The fertiliser market was impacted by fewer exports of the chemical, as well as port-related congestions, which were heard towards the end of the quarter.

Procurement Resource provides latest prices of Phosphoric Acid. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

Please Login or Subscribe to explore our dashboard.


Phosphoric Acid, better known as orthophosphoric acid, is a weak acid. It is known to be a non-toxic compound which, in its pure form, appears as a colourless solid. The crude Phosphoric Acid can be prepared from phosphate rock, but it is of low purity. All the 3 hydrogens are acidic to varying degrees and can be lost from the molecule as H+ ions (protons).

Product Details

Report Features Details
Product Name Phosphoric Acid
Chemical Formula H3O4P
Industrial Uses Fertilisers, Lectrolyte, etching agent, Rust removal agent, pH modifier, Food products, Household cleaning agent, Acidifying agent, Dispersing agent and sanitising agent, Dehydrating agent, Pharmaceutical products
Molecular Weight 97.995 g/mol
Synonyms 7664-38-2, Orthophosphoric Acid, o-Phosphoric acid
Supplier Database Jordan Phosphate Mines Company Plc, Ma’aden Wa’ad Al Shamal Phosphate Company (MWSPC), OCP Group, Yara International ASA, The Mosaic Company
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Processes

  • Production of Phosphoric Acid via Dihydrate Process; and via Hemihydrate Process

In order to produce Phosphoric Acid through the dihydrate process, a rection between tricalcium phosphate and concentrated sulphuric acid is carried out at high temperature conditions. This forms calcium sulphate as the byproduct, which is in its dihydrate form. Finally, dihydrate calcium sulphate is removed by filtration, leaving behind Phosphoric Acid.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

Table Of Contents

Assistance from Experts

Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.

Client's Satisfaction

Procurement Resource has made a mark for itself in terms of its rigorous assistance to its clientele. Our experienced panel of experts leave no stone unturned in ensuring the expertise at every step of our clients' strategic procurement journey. Our prompt assistance, prudential analysis, and pragmatic tactics considering the best procurement move for industries are all that sets us apart. We at Procurement Resource value our clients, which our clients vouch for.

Assured Quality

Expertise, judiciousness, and expedience are the crucial aspects of our modus operandi at Procurement Resource. Quality is non-negotiable, and we don't compromise on that. Our best-in-class solutions, elaborative consulting substantiated by exhaustive evaluation, and fool-proof reports have led us to come this far, making us the ‘numero uno' in the domain of procurement. Be it exclusive qualitative research or assiduous quantitative research methodologies, our high quality of work is what our clients swear by.


Get latest News About Procurement Resource
Subscribe for news

This site uses cookies (including third-party cookies) to record user’s preferences. See our Privacy PolicyFor more.