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Morocco's OCP, the world's largest phosphates exporter, will build two plants in Nigeria and Ghana, each with 1 million tonnes a year capacity, targeting 2024. The plants are part of OCP's push to expand phosphate-based fertilizer use in Africa.
Future African phosphate production would gradually reduce regional import demand over several years, a long-term bearish factor for phosphate exports but with little near-term price impact.
reuters.comAhmed EljechtimiJun 25, 2020After 36 past neutral trade events, DAP moved a median +0.7% over 5 sessions (64% higher; middle half -0.0% to +2.1%), and +0.4% 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.
