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The US Department of Commerce announced preliminary countervailing duty rates on phosphate fertilizer from Morocco and Russia, with rates ranging from about 21% to 72.5% depending on producer. Final rulings are expected in February and April after further review.
Industry commentary says Moroccan and Russian product is unlikely to reach the US directly.
Large duties on major phosphate sources will push up US and North American fertilizer prices as import supply is displaced and trade routes become less efficient.
realagriculture.comShaun HaneyNov 24, 2020After 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.
Report of large preliminary tariffs on Russian and Moroccan phosphate on Nov 24 signals tighter US import supply, supporting a DAP price jump.
