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India plans a three-year long-term contract with Mauritania for rock phosphate, following similar deals with Morocco, Jordan, Oman, Russia and Saudi Arabia. The minister says talks with Egypt are also underway.
The move follows Ukraine war and Red Sea disruptions that pushed up global phosphate prices, and the budget allocated 1.64 trillion rupees for fertilizer subsidies.
Diversified long-term sourcing by a major importer supports supply security and may cap price spikes, but India's ongoing buying keeps rock phosphate and DAP demand firm for global markets.
livemint.comPuja DasFeb 21, 2024Not enough comparable past events yet for a historical read.
After 193 past bullish trade events, DAP moved a median +0.4% over 5 sessions (54% higher; middle half -0.3% to +1.8%), 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.
