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Morocco's state fertilizer producer OCP will offer 180,000 tonnes of soil nutrients as aid and 370,000 tonnes at a discount to African states. The volumes equal about 16% of African demand this year, and OCP plans to raise output by 1 million tonnes this year and 2 million next year.
The relief program partly cushions African fertilizer prices that have surged, but the volumes are small relative to global trade and do little to change the overall bullish fertilizer price outlook.
financialpost.comReutersJul 20, 2022After 26 past neutral policy events, Urea moved a median -1.0% over 5 sessions (27% higher; middle half -4.1% to +0.6%), and -2.5% over 20.
After 29 past neutral policy events, DAP moved a median +0.2% over 5 sessions (55% higher; middle half -0.4% to +1.3%), 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.
