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World Fertilizer reviews phosphate market fundamentals, noting CRU estimated about 44 million tonnes of P2O5 fertilizer consumed in 2015 and demand growth led by China, India and Brazil. It says DAP prices have fallen to around US$130/t lower year-on-year since August 2015 after earlier El Niño concerns and a Chinese government policy shift.
Softer phosphate prices lower input costs for feed-related crop production and signal weaker fertilizer margins, though the outlook depends on Chinese supply policy.
worldfertilizer.comAngharad LockNov 7, 2016Not 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.
