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Combined US MAP and DAP imports fell 43 percent between July and December 2020 as the countervailing duty investigation advanced against Morocco and Russia. Those two countries had supplied about 80 percent of US MAP and DAP imports, and non-traditional suppliers such as Australia, Egypt and Jordan could not fully replace them.
Duty-driven supply shortfalls are likely to keep US MAP and DAP prices elevated through the spring season. Importers relying on non-traditional origins face volume risk, which supports prices.
phosphateprice.comDesktopJan 19, 2021After 283 past trade events, Urea moved a median -0.4% over 5 sessions (45% higher; middle half -2.2% to +1.9%), and +0.1% over 20.
After 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.
