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PhosAgro's deputy CEO said US farmers pay roughly 15-20% more for phosphorus fertilizer than farmers in Brazil and Canada because of duties on Russian and Moroccan imports. He said Russian producers are redirecting sales to other markets.
The US duty wedge keeps domestic phosphate prices above world levels and diverts Russian supply away from America, supporting firm US DAP prices.
phosphateprice.comDesktopJun 23, 2021After 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.
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.
