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Moroccan officials, including OCP's vice president and general counsel, held meetings in New Zealand to defend the phosphate trade against activist arguments that it is tied to an illegal occupation of Western Sahara. About 70% of New Zealand's phosphate comes from Western Sahara, and the two countries have traded for 30 years.
The political pressure could threaten a key NZ phosphate outlet for OCP, but the near-term effect on global phosphate rock and fertilizer prices is limited.
rnz.co.nzTe Reo Irirangi o AotearoaApr 20, 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.
