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A shipment of about 56,000 metric tonnes of phosphate rock mined in Western Sahara is due to arrive at the Port of Tauranga, New Zealand, on February 27. Ballance Agri-Nutrients chartered the vessel, which is part of an expected 150,000 to 200,000 tonnes of imports in 2021.
Previous shipments from the region have drawn protests over the disputed territory's sovereignty.
This is a routine, small-volume arrival of phosphate rock for New Zealand's fertilizer supply, so it has little effect on global phosphate prices. Protests and the disputed origin are a reputational and supply-continuity risk rather than a price driver.
sunlive.co.nzFeb 26, 2021Not 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.
