Ma’aden phosphate plant takes on first contract- NEW production

The massive phosphate plant in Morocco that was set to come on stream in Q3 of 2011 has just confirmed their first contract of phosphate with India. Shipping is to start in August of 2011. This plant coming on line will displace close to 3 million tonnes of phosphate in the world markets; most of which has come from US phosphate manufacturers in previous years. This will likely exert downward pressure on North American phosphate prices in the coming crop year.