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The Commerce Department plans to raise countervailing duties on Moroccan phosphate fertilizer to 14.21% from 2.12%, while lowering duties on Russian phosphate to 18.83% from 28.5%. The new rates would take effect in November and apply retroactively to 2022 imports.
Higher tariffs on Moroccan DAP/phosphate imports, largely aimed at OCP, tighten US phosphate supply and support US fertilizer prices, raising input costs for farmers and feed grain producers.
agriculturedive.comSarah ZimmermanMay 7, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 151 past bullish policy events, DAP moved a median +0.0% over 5 sessions (50% higher; middle half -0.6% to +0.9%), and +1.9% over 20.
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.
