# Mosaic - U.S. Department of Commerce Issues Preliminary Countervailing Duty Determinations on Phosphate Fertilizer Imports from Morocco and Russia

> The US Department of Commerce preliminarily found that phosphate fertilizer imports from Morocco and Russia benefit from countervailable subsidies. Calculated rates were 23.46% for OCP in Morocco, and 20.94%, 72.5% and 32.92% for Russian producers, with cash deposits to begin within days. Final determinations are due by February 8, 2021.

- Date: 2020-11-23 · published 2020-11-23T12:00:00.000Z
- Category: trade · region US · magnitude high
- Page: https://feedsoft.ai/events/50089-mosaic-u-s-department-of-commerce-issues-preliminary-countervailing-duty
- Commodities: [Phosphate Rock](https://feedsoft.ai/c/PHOSROCK.md), [DAP](https://feedsoft.ai/c/DAP.md)

## Why it matters

Preliminary duties of up to 72.5% sharply raise the cost of imported phosphate into the US, which should lift domestic DAP and phosphate prices and tighten import flows.

## Read by commodity

- DAP: bullish ▲
- PHOSROCK: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DAP | 2020-11-30 | 5 | +7.1% | 3.0 | Commerce's preliminary CVD rates (21-72.5%) on Moroccan and Russian phosphate, announced Nov 23 with cash deposits starting within days, restrict US import supply and likely drove DAP higher in the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DAP | 2021-02-09 | [Mosaic - U.S. Department of Commerce Issues Final Affirmative Countervailing Duty Determinations on Phosphate Fertilizer Imports from Morocco and Russia](https://feedsoft.ai/events/48568-mosaic-u-s-department-of-commerce-issues-final-affirmative-countervailing-duty.md) | -0.4% | -1.5% |
| DAP | 2020-07-17 | [U.S. Department of Commerce Initiates Countervailing Duty Investigations of Imports of Phosphate Fertilizers from Morocco and Russia](https://feedsoft.ai/events/52061-u-s-department-of-commerce-initiates-countervailing-duty-investigations-of.md) | +1.3% | +11.1% |
| DAP | 2020-12-29 | [Federal Register
       :: 
      Phosphate Fertilizers From the Kingdom of Morocco: Amended Preliminary Determination of Countervailing Duty Investigation](https://feedsoft.ai/events/49974-federal-register-phosphate-fertilizers-from-the-kingdom-of-morocco-amended.md) | -0.3% | +5.9% |
| DAP | 2020-11-30 | [Federal Register
       :: 
      Phosphate Fertilizers From the Russian Federation: Preliminary Affirmative Countervailing Duty Determination](https://feedsoft.ai/events/50087-federal-register-phosphate-fertilizers-from-the-russian-federation-preliminary.md) | +1.1% | +4.4% |
| DAP | 2020-06-29 | [United States launches countervailing duty investigation on imported phosphate fertilizers from Morocco and Russia-China urea, Adblue urea, DEF urea supplier-STARCO CHEM](https://feedsoft.ai/events/52430-united-states-launches-countervailing-duty-investigation-on-imported-phosphate.md) | +4.8% | +9.3% |

## Sources

- investors.mosaicco.com: https://investors.mosaicco.com/press-releases/news-details/2020/U.S.-Department-of-Commerce-Issues-Preliminary-Countervailing-Duty-Determinations-on-Phosphate-Fertilizer-Imports-from-Morocco-and-Russia/default.aspx
- thefederalregister.org: https://thefederalregister.org/documents/2020-26331/phosphate-fertilizers-from-the-kingdom-of-morocco-preliminary-affirmative-countervailing-duty-determination
- trade.gov: https://www.trade.gov/press-release/us-department-commerce-issues-affirmative-preliminary-determinations-countervailing

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.