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Phosphate fertilizer prices such as DAP have been weighed down by excess capacity. Around 1.6 million metric tons of new capacity is expected in 2017, with 42% in Saudi Arabia and 30% in Morocco.
Global phosphate demand is forecast to grow about 2%, slower than capacity additions.
Capacity growing faster than demand points to continued pressure on phosphate prices. Buyers can expect limited upside for DAP in the near term.
marketrealist.comAdam JonesDec 4, 2017Not 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.
