Brazil: MAP rises on Mosaic purchases

摘要

Following the decision by Mosaic to declare force majeure at its US phosphate operations in the wake of Hurricane Irma, it bought 62,000 mt prompt MAP/DAP for its Brazilian commitments in the $350s/mt CFR Brazil this week. The prompt nature of the purchase means it is unclear if the price is repeatable in the market. It is also unclear which company is providing the tonnes although there are initial rumours at least some of the volumes came from OCP.