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The US Department of Commerce preliminary results in its second administrative review raise the countervailing duty on Moroccan phosphate fertilizer imports from 2.12% to 14.21%. If confirmed in final results expected in October or November, the new rate would apply to imports from around November 2024.
OCP says it disagrees and will appeal.
A sharply higher US duty on Moroccan phosphate raises the landed cost of DAP and related products into the US, tightening supply and supporting US phosphate fertilizer prices.
ocpgroup.maApr 30, 2024After 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.
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.
