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Moroccan phosphate rock and fertilizer exports rose 17% year on year in January, with fertilizer sales up 20% and phosphoric acid exports up 26%. The gains followed a 34% export decline in 2023.
OCP's profits rose 21%, although its fourth-quarter revenues fell 20%.
Stronger Moroccan export volumes add supply to global phosphate markets, which is mildly bearish for DAP and phosrock prices. Recovering demand from the agriculture sector supports the outlook.
en.walaw.pressMar 5, 2024Not enough comparable past events yet for a historical read.
After 36 past neutral trade events, DAP moved a median +0.7% over 5 sessions (64% higher; middle half -0.0% to +2.1%), and +0.4% 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.
