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Ballance Agri-Nutrients may end up buying back the seized phosphate rock cargo, which is now effectively under the control of the Polisario Front. The Moroccan seller has pulled out of the court hearing and accused South Africa of piracy.
Ballance says the dispute has not cost it financially so far, despite berthage fees of about $10,000 a day.
The dispute leaves the cargo's ownership and destination unsettled, which affects a small volume of phosphate rock trade. It does not change the broader supply balance.
rnz.co.nzTe Reo Irirangi o AotearoaJul 28, 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.
