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The US Department of Commerce lowered the preliminary countervailing duty rate on Moroccan phosphate fertilizer imports to 16.88% from 23.46%, after OCP Group said the initial rate contained an arithmetic error. OCP and the Moroccan government said they will keep cooperating with US authorities.
A lower duty eases the import cost squeeze on US phosphate supply, modestly reducing upward pressure on DAP and MAP prices.
worldfertilizer.comPippa LuckJan 7, 2021After 40 past bearish trade events, DAP moved a median -0.1% over 5 sessions (38% higher; middle half -3.7% to +0.5%), and -2.4% 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.
