Farmers might get some price relief because of lower duties on phosphate fertilizer from Morocco.
Josh Linville with Stone X tells Brownfield he’s surprised The U.S. Department of Commerce announced Friday it would lower the duties from 19.97% down to 2.12% but, “This might not be the silver bullet everybody hopes it will be for phosphate prices. I don’t believe we can sit there and expect that we’re going to see DAP and MAP (Di-ammonium Phosphate and Monoammonium Phosphate) fall by two or three hundred dollars a ton.”
Linville says the lower duties will help inventories, but more production needs to come from the rest of the world before the U.S.
