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Phosphate Rock Prices, Demand and Supply Overview
Phosphate Rock prices in Morocco, the highest-cost reporting region given its position as the world's leading exporter, rose 2.3% in Q2 2026 to USD 176.00/MT from USD 172.00/MT in Q1, continuing a gradual, steady upward trend that has characterized this market throughout the period. Globally, the average rose from USD 155.54/MT in Q1 to USD 159.08/MT in Q2, a 2.3% gain, extending a multi-year recovery from the lower levels recorded earlier in the decade. For H2 2026, a global average of USD 145.00-180.00/MT is expected, with steady global fertilizer demand likely to keep this market on its established gradual upward path.
Phosphate Rock is a sedimentary or igneous mineral deposit containing high concentrations of phosphate minerals, primarily apatite, mined and processed into phosphoric acid and downstream phosphate fertilizers including diammonium phosphate and monoammonium phosphate. It serves as the foundational raw material for the global phosphate fertilizer value chain, essential to agricultural productivity worldwide, alongside smaller volumes used in animal feed supplements, industrial phosphate chemicals, and food-grade phosphoric acid production. Morocco holds by far the world's largest phosphate rock reserves, giving the state-owned OCP Group substantial influence over global pricing and supply. Mining and processing costs, global fertilizer demand, and Moroccan export pricing policy are what drive prices in this market.
Phosphate Rock Price Forecast for 2026
The outlook for Phosphate Rock through H2 2026 points to continued gradual firming, tracking steady global fertilizer demand and Moroccan export pricing discipline. This market's price is expected to continue its multi-year recovery trajectory, supported by sustained agricultural demand growth and constrained near-term global mining capacity additions relative to demand.
The main upside risk is a further tightening of Moroccan or other major exporter supply, or stronger-than-expected global fertilizer demand, which could accelerate the pace of gains beyond current expectations. The main downside risk is a significant expansion of global mining capacity combined with softer agricultural demand, which could slow or reverse the gradual upward trend that has characterized this market.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 145.00 - 180.00 | Steady global fertilizer demand keeps this market firming gradually |
| Morocco | 165.00 - 195.00 | Leading global export position sustains the highest price |
| United States | 150.00 - 175.00 | Steady domestic fertilizer demand supports continued firmness |
| Russia | 145.00 - 170.00 | Growing export volumes drive continued gains |
| China | 135.00 - 155.00 | Large-scale domestic production keeps this the most affordable market |
For the Quarter Ending June 2026
Phosphate Rock Prices Q2 2026:
- Morocco: USD 176.00/MT
- United States: USD 160.00/MT
- Russia: USD 154.00/MT
- China: USD 143.00/MT
Phosphate Rock Prices in Morocco
Moroccan Phosphate Rock prices averaged USD 176.00/MT in Q2 2026, the highest of any region tracked here, up 2.3% from USD 172.00/MT in Q1, continuing this market's gradual, steady upward trend given its position as the world's leading exporter.
Why did the price of Phosphate Rock change in Q2 2026 in Morocco?
Morocco's position as the world's leading phosphate rock exporter, backed by the state-owned OCP Group's substantial reserve base, continued supporting this market's premium positioning and gradual price gains.
Phosphate Rock Prices in the United States
US prices averaged USD 160.00/MT in Q2 2026, up 2.6% from USD 156.00/MT in Q1, as steady domestic fertilizer demand continued supporting this market.
Why did the price of Phosphate Rock change in Q2 2026 in the United States?
Steady demand from domestic phosphate fertilizer producers kept US buyers active, supporting this market's continued gradual firming.
Phosphate Rock Prices in Russia
Russian prices averaged USD 154.00/MT in Q2 2026, up 2.0% from USD 151.00/MT in Q1, as growing export volumes continued driving gains.
Why did the price of Phosphate Rock change in Q2 2026 in Russia?
Growing export volumes, tied to steady global fertilizer demand, continued supporting price gains in this market through the quarter.
Phosphate Rock Prices in China
Chinese prices, the lowest of the four regions, averaged USD 143.00/MT in Q2 2026, up 2.1% from USD 140.00/MT in Q1, as large-scale domestic production continued keeping this market comparatively affordable.
Why did the price of Phosphate Rock change in Q2 2026 in China?
Large-scale domestic phosphate rock production and processing capacity continued keeping Chinese pricing the most competitive of any region tracked here.
For the Quarter Ending March 2026
Phosphate Rock Prices Q1 2026:
- Morocco: USD 172.00/MT
- United States: USD 156.00/MT
- Russia: USD 151.00/MT
- China: USD 140.00/MT
Phosphate Rock Prices in Morocco
Moroccan prices rose 2.4% in Q1 2026 to USD 172.00/MT from USD 168.00/MT in Q4 2025, continuing the gradual upward trend.
Why did the price of Phosphate Rock change in Q1 2026 in Morocco?
Morocco's substantial phosphate rock reserves and export infrastructure continued supporting this market's leading position, with steady global fertilizer demand sustaining the gradual price appreciation that has characterized this market over recent years.
Phosphate Rock Prices in the United States
US prices rose 2.6% in Q1 2026 to USD 156.00/MT from USD 152.00/MT in Q4 2025, tracking steady domestic fertilizer demand.
Why did the price of Phosphate Rock change in Q1 2026 in the United States?
Steady demand from domestic phosphate fertilizer manufacturers continued supporting gradual price gains, consistent with the broader global trend evident across the market.
Phosphate Rock Prices in Russia
Russian prices rose 2.7% in Q1 2026 to USD 151.00/MT from USD 147.00/MT in Q4 2025, tracking growing export volumes.
Why did the price of Phosphate Rock change in Q1 2026 in Russia?
Growing export volumes, tied to sustained global agricultural demand, continued supporting Russian phosphate rock pricing through the quarter.
Phosphate Rock Prices in China
Chinese prices rose 2.2% in Q1 2026 to USD 140.00/MT from USD 137.00/MT in Q4 2025, tracking the broader steady global trend.
Why did the price of Phosphate Rock change in Q1 2026 in China?
Large-scale domestic production capacity continued keeping this market on its established gradual upward trajectory, tracking the broader global fertilizer demand environment.
Quarterly Phosphate Rock Price Trends
Global Phosphate Rock prices climbed steadily and gradually through every quarter tracked in this report, extending a multi-year recovery trajectory supported by sustained global fertilizer demand and constrained near-term global mining capacity additions relative to underlying agricultural demand growth.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q2 2026 | 159.08 | +2.3% | ↑ Rising |
| Q1 2026 | 155.54 | +2.5% | ↑ Rising |
| Q4 2025 | 151.78 | +1.5% | ↑ Rising |
| Q3 2025 | 149.54 | +1.9% | ↑ Rising |
| Q2 2025 | 146.78 | - | — Stable |
| Q3 2026 | In Progress | - | — In Progress |
What was Phosphate Rock Price in 2025?
Phosphate Rock firmed steadily and consistently across every market covered in this report through 2025, tracking sustained global fertilizer demand and Moroccan export pricing discipline, with India posting the most gradual increases among the major producing and consuming regions tracked here.
Phosphate Rock Prices in Morocco in 2025
Moroccan prices firmed from about USD 160.00/MT in Q1 2025 to USD 168.00/MT by Q4, a gain of roughly 5.0%, the strongest annual increase alongside Russia among the four regions.
Phosphate Rock Prices in the United States in 2025
US prices firmed from about USD 145.00/MT in Q1 2025 to USD 152.00/MT by Q4, up roughly 4.8%, the smallest annual increase of the four regions.
Phosphate Rock Prices in Russia in 2025
Russian prices firmed from about USD 140.00/MT in Q1 2025 to USD 147.00/MT by Q4, up roughly 5.0%, tracking growing export volumes through the year.
Phosphate Rock Prices in China in 2025
Chinese prices firmed from about USD 130.00/MT in Q1 2025 to USD 137.00/MT by Q4, a gain of roughly 5.4%, the strongest annual increase of the four regions.
How We Can Help
Expert Market Research: Your Source for Real-Time Phosphate Rock Price Intelligence
Expert Market Research tracks Phosphate Rock prices continuously across every major producing and consuming region, combining mining and processing cost data, global fertilizer demand signals, and Moroccan export pricing policy trends into a single, regularly updated view of the market. Our team can help your procurement function benchmark current offers, plan purchases around the steady trends covered in this report, and build a defensible view of where this foundational fertilizer raw material is headed next. Reach out to our team for a tailored briefing or a deeper look at any of the regional markets covered here.
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Key Questions Answered in the Report
It serves as the foundational raw material for the global phosphate fertilizer value chain, processed into phosphoric acid and downstream fertilizers including diammonium phosphate and monoammonium phosphate, alongside animal feed supplements and industrial phosphate chemicals.
The Q2 2026 global average was USD 159.08/MT, ranging from USD 143.00/MT in China to USD 176.00/MT in Morocco.
The global average rose from USD 151.78/MT in Q4 2025 to USD 155.54/MT in Q1 2026 and then to USD 159.08/MT in Q2, continuing a steady, gradual multi-year recovery.
The global average is expected in the USD 145.00-180.00/MT range, with steady global fertilizer demand likely to keep this market firming gradually.
China holds the lowest cost among the regions tracked here given large-scale domestic production, while Morocco carries the highest cost given its leading global export position.
This report is updated monthly. For real-time pricing intelligence, connect with the Expert Market Research team.
Mining and processing costs, global fertilizer demand, and Moroccan export pricing policy.
Morocco holds by far the world's largest phosphate rock reserves, with China, the United States, and Russia also significant producing and consuming markets.
Morocco holds the world's largest phosphate rock reserves by a wide margin, and the state-owned OCP Group's substantial export volumes give it considerable influence over global pricing and supply availability.
Buyers can monitor Moroccan export pricing policy and global fertilizer demand trends given their outsized influence on this market, time forward purchases around the quarterly breakdowns in this report, and benchmark supplier quotes against the tracked price ranges.
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