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A magnitude 6.8 earthquake struck Morocco on September 8, followed by a magnitude 4.8 quake on September 14, causing damage to phosphate and phosphoric acid operations. Morocco is a major phosphoric acid exporter to India, Turkey and Brazil, and supply from the country was slightly disrupted.
Morocco is a dominant supplier of phosphate products, so reduced phosphoric acid availability during strong South Asian and South American demand tightens DAP and MAP supply and supports higher fertilizer prices.
chemanalyst.comLi HuaSep 20, 2023After 31 past bullish logistics events, DAP moved a median +0.5% over 5 sessions (58% higher; middle half -0.4% to +0.9%), and +1.6% over 20.
Not enough comparable past events yet for a historical read.
After 64 past logistics events, Urea moved a median -0.3% over 5 sessions (48% higher; middle half -1.0% to +2.3%), and -0.3% 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.
