Morocco's OCP plans to raise fertilizer output to 11.9 million tonnes in 2022 from 10.8 million in 2021 and add 3 million tonnes of capacity in 2023. The company says it has replaced Russian ammonia volumes from other suppliers and will import US ammonia under a long-term deal.
Added OCP output partly offsets lost Russian nitrogen and phosphate supply, but the scale of the gap keeps fertilizer prices elevated, raising feed-grain production costs.
After 23 past neutral trade events, UREA moved a median 0.0% over 5 sessions (48% higher; middle half -1.1% to +1.0%), and +2.8% over 20.
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.
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.