Reported Late Thursday, U.S. Commerce Department Adjusts Countervailing Duties: Mosaic CEO Disappointed With Reduced Moroccan Rates, Asserts Commitment To Fair Trade Practices
Portfolio Pulse from Benzinga Newsdesk
The U.S. Department of Commerce has adjusted the countervailing duty orders on phosphate fertilizers from Russia and Morocco. The rate for Russian producer PhosAgro was increased from 9.19% to 28.50%, while the rate for Moroccan producer OCP was decreased from 19.97% to 2.12%. The Mosaic Company (NYSE:MOS) expressed disappointment with the reduced Moroccan rates and asserted its commitment to fair trade practices.
November 03, 2023 | 6:45 am
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The Mosaic Company may face increased competition due to reduced countervailing duties on Moroccan phosphate fertilizers. This could potentially impact the company's market share and profitability.
The reduction in countervailing duties on Moroccan phosphate fertilizers could lead to increased imports from Morocco, thereby increasing competition for The Mosaic Company. This could potentially impact the company's market share and profitability.
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