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Western Sahara Resource Watch's 2017 report found New Zealand cooperatives Ballance and Ravensdown imported about 333,000 tonnes of Western Sahara phosphate rock worth roughly $30 million. Three long-term importers reportedly stopped buying after a South African cargo seizure, and shipping routes have shifted to avoid the Cape of Good Hope.
Importers exiting and rerouted ships raise freight and sourcing costs for phosphate rock, which can support phosphate prices for NZ buyers.
scoop.co.nzRNZApr 25, 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.
