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A Western Sahara Resource Watch report says about 1.93 million tonnes of phosphates worth $164m were exported from Western Sahara in 2018, up from 2017. The largest buyer in 2018 has decided to halt its purchases from the territory.
Exports from the Bou Craa mine are operated by a subsidiary of Morocco's OCP.
Loss of a major buyer may reduce exports from this source and tighten the trade flow for phosphate rock. The effect on prices is likely modest because Morocco has other supply and markets.
forbes.comDominic DudleyApr 8, 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.
