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Federated Farmers in New Zealand is concerned after South African authorities seized a 54,000-tonne phosphate rock shipment bound from Morocco to New Zealand, a cargo mined in Western Sahara. The dispute followed a European Court ruling in favour of the Polisario group, and officials warn more shipments could be halted.
Western Sahara and Morocco supply about 75% of world phosphate exports, so further seizures could tighten supply and lift phosphate and DAP prices.
rnz.co.nzTe Reo Irirangi o AotearoaMay 5, 2017Not enough comparable past events yet for a historical read.
After 114 past bullish geopolitics events, DAP moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +1.2%), and +0.3% over 20.
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.
