Loading…
Sri Lanka's Cabinet approved producing single superphosphate at the Eppawala phosphate deposit as a substitute for imported triple superphosphate. The government estimates it currently spends about Rs.
7 billion a year on triple superphosphate imports, and expects the change to save over half that amount. Production is expected to start this year.
Replacing imported triple superphosphate with domestic single superphosphate cuts Sri Lanka's import demand for phosphate fertilizer, which is mildly bearish for TSP export prices. The effect is small at global scale.
themorning.lkMay 17, 2020Not 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.
