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OCP, Morocco's state-owned phosphate company, reported Q1 2020 turnover of MAD 12.27 billion, a slight decline from MAD 12.42 billion a year earlier. The decrease was attributed to lower fertilizer prices, with gross margin falling from 67% to 61% on lower sulfur and ammonia costs.
Lower phosphate fertilizer prices and reduced input costs signal softer phosphate and ammonia-based fertilizer pricing, which eases costs for feed and crop producers. The effect on feed-grain prices is limited.
moroccoworldnews.comyahia-hatimMay 29, 2020After 35 past bearish report events, DAP moved a median 0.0% over 5 sessions (37% higher; middle half -0.7% to +1.5%), and +0.6% 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.
