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China extended its phosphate export restrictions through the end of 2022 with a quota of 3.16 million tonnes for the second half, down from 5.5 million tonnes a year earlier. Argus estimates 2.4 million tonnes will be DAP and 765,000 tonnes MAP, with DAP exports about 40% below the three-year average.
A tighter Chinese export quota removes a major source of phosphate supply from world markets, which keeps DAP prices elevated and raises costs for feed and grain producers.
producer.comSean PrattAug 11, 2022After 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.
