Despite the fact that RAW MATERIAL PRICES remain high and unchanged (for Urea, DAP, and Calcium Nitrate) and rising (for Kali), WHOLESALE DEMAND in Cambodia has increased as the peak season is approaching.
WHOLESALE CURRENT DEMAND is approximately 40% Urea, 35% DAP, 10% Kali, 5% Calcium Nitrate, and 10% the rest of fertilizers.
RETAIL DEMAND is still not very significant.
CONTAINER IMPORT PRICES from shipping companies seem to continue to rise, and the USD-CNY EXCHANGE RATE has slowed its rise after a month and a half, and now remains stable for the last two weeks, which will not help for fertilizer imports from China, but nor from Vietnam or Thailand, as BULK BARGES IMPORT PRICES remain very high because of the few shipping companies that have the capability to have a crew on each side of the border to avoid quarantine restrictions on both sides.
The WEATHER is slowly starting to change and we have already had the first storms in Cambodia for the last two weeks. We are still within the two weeks 8:00pm-5:00am CURFEW imposed on April 1st, and we still have movement RESTRICTIONS between provinces, among others, due to Covid-19.
In spite of everything above, WE RECOMMEND fertilizer factories start buying now, but in small quantities depending on their production, while waiting for prices to fall.