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US Commerce imposes preliminary cash deposits on Russia, Morocco phosphates

November 26/2020

MOSCOW (MRC) -- The US Department of Commerce has preliminarily found that phosphate fertilizer imports from Morocco and Russia benefit from countervailable subsidies. Commerce calculated a subsidy rate of 23.46% for Moroccan producer OCP, said Chemweek.

In the Russia investigation, Commerce calculated rates of 20.94% and 72.5% for PhosAgro and EuroChem, respectively, and 32.92% for all other producers/exporters. Preliminary cash deposits will be imposed within days, says the Mosaic Company (Tampa, Florida), which requested the investigation.

The US International Trade Commission will meanwhile investigate whether Moroccan and Russian phosphate fertilizer imports materially injure the US phosphate fertilizer industry. Its final determinations are scheduled to be issued by 25 March 2021.

Commerce, which announced the investigation on 17 July 2020, estimates phosphate fertilizer imports from Morocco in 2019 at USD729 million, and from Russia at USD299 million.

As MRC informed earlier, 1,985,000 tonnes of mineral fertilizers (in terms of 100% nutrients) were produced in October versus 2,014,000 tonnes a month earlier. Overall, Russian plants produced about 20,500,000 tonnes of fertilizers in January-October 2020, up by 3.5% year on year.

We remind, Russia's output of chemical products rose in October 2020 by 7.2% year on year. At the same time, production of basic chemicals grew in the first ten months of 2020 by 6.3% year on year. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-October output.
Author:Anna Larionova
Tags:chemical fertilizers, petroleum products, neftegaz, petrochemistry.
Category:General News
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