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Morocco's fertiliser exports fell 1.6% year on year to 53.9 billion dirhams through end-September 2026, according to the Office des Changes. Phosphoric acid exports rose 22.4% over the same period.
Morocco is a major phosphate supplier, so the shift toward phosphoric acid exports and away from finished fertiliser can tighten some phosphate product flows. The overall change is small, so the price effect is limited.
After 36 past neutral trade events, DAP moved a median +0.7% over 5 sessions (64% higher; middle half -0.0% to +2.1%), and +0.4% 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.