Loading…
Moroccan producer OCP is investing in new technology to lift its market share and cut energy costs. Phosphate rock prices fell from a stable $115-123/mt range between 2014 and mid-2016 to $96/mt by April 2017.
The article attributes the decline to oversupply, particularly of Chinese fertilizer products.
Phosphate rock is the benchmark input for world phosphate prices, so continued oversupply keeps downward pressure on DAP and related costs. Expanded low-cost capacity from Morocco reinforces that outlook for buyers.
e-mj.comE &, MJ EditorsJul 18, 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.
