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Morocco's OCP has had its exports to North America at a standstill since July 2020, after Mosaic filed a petition alleging subsidies and seeking countervailing duties. OCP is one of the world's top five phosphate producers, and the case is a first in its 100-year history.
The final outcome is expected around March 2021.
The loss of OCP's supply to North America tightens phosphate availability in the US market, which supports DAP prices until the trade dispute is resolved.
theafricareport.comEstelle MaussionJan 11, 2021After 193 past bullish trade events, DAP moved a median +0.4% over 5 sessions (54% higher; middle half -0.3% to +1.8%), 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.
