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OCP Group, through its subsidiary Phosboucraa, published a statement defending its phosphate rock shipments to New Zealand from Western Sahara. It argues that about 2% of Morocco's reserves lie in the territory, that OCP is the largest private employer there, and that the rock suits New Zealand's soils.
The shipments have drawn public criticism over the territory's political status.
The dispute concerns sourcing and reputational risk rather than a change in volumes, so it is unlikely to move phosphate rock prices.
nzherald.co.nzMaoulainine MaoulainineAug 29, 2019
scoop.co.nzNorthl...Aug 30, 2019Not 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.
