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Moroccan phosphate group OCP ended its relationship with Fitch Ratings, which withdrew all its ratings on 12 November after OCP stopped participating in the assessment. OCP reported rising sulphur costs and weaker fertiliser demand pressuring its profits.
Rising sulphur costs raise the production cost of phosphate fertilisers such as DAP and TSP, which can support phosphate prices and squeeze margins for feed and crop input buyers.
Not 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.