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Nigeria's federal government agreed with Morocco's OCP to establish fertilizer production plants in the country. OCP says local farmers will gain technical training and that products will be sold in the Nigerian market.
The partnership is part of a diversification drive away from oil.
New African fertilizer capacity built on Moroccan phosphate could increase regional phosphate and DAP demand over the long term. The project is still in early stages, so the near-term price effect is minimal.
thenationonlineng.netThe NationAug 21, 2018After 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.
