Loading…
Ballance Agri-Nutrients will avoid refuelling stops at South African ports after its chartered ship carrying Western Saharan phosphate was seized. The company says other suppliers can cover New Zealand demand, which is subdued until next spring.
The release of the shipment is expected to be protracted, with a court hearing set for May 18.
Because other suppliers are stepping in and demand is seasonally weak, the seizure is unlikely to move New Zealand phosphate supply or prices much.
farmersweekly.co.nzBusinessDeskMay 7, 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.
