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South Africa returned a 55,000-tonne Moroccan phosphate cargo to OCP after the cargo, seized in 2017, failed to find buyers. A South African court had ruled the phosphate belonged to Polisario, and the shipowner returned it to OCP for a nominal fee.
OCP says buyers refused the cargo because of its disputed origin.
The cargo is small relative to global phosphate trade, so the return has little price effect, though the dispute highlights sourcing risk for buyers of Moroccan phosphate.
moroccoworldnews.comSafaa KasraouiMay 8, 2018Not 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.
