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's annual report says 19 vessels exported 1.03 million tonnes of phosphate rock from occupied Western Sahara in 2019, worth an estimated $90.4 million. That is the lowest recorded volume, roughly halved from 2018, mainly because Nutrien stopped importing it.
The exit of a major North American buyer reduces phosphate rock trade flows, which is mildly bearish for phosphate rock prices. The effect on finished phosphate fertilizer markets is limited.
wsrw.orgFeb 24, 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.
