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Phosphate prices soared in 2021 after a US countervailing duty on Moroccan and Russian phosphate imports, along with transport issues and higher energy costs. US DAP rose 76% over the year to US$745/t, a 13-year high.
The US trade ruling is under appeal, with a decision expected in 2022.
US trade duties restrict phosphate import supply, supporting domestic DAP prices that feed into crop input costs. The pending appeal adds uncertainty to 2022 supply and price direction.
phosphateprice.comDesktopFeb 28, 2022After 151 past bullish policy events, DAP moved a median +0.0% over 5 sessions (50% higher; middle half -0.6% to +0.9%), and +1.9% 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.
