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's annual report says 36 vessels carried about 2.02 million tonnes of phosphate rock out of occupied Western Sahara in 2025, up from 1.45 million tonnes in 2024. Only three companies imported the rock, the lowest number on record.
Higher export volumes from Morocco's Bou Craa operations add some phosphate rock supply, but the effect on global prices is limited.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.