U.S. to Enforce Duties on Phosphate Fertilizer Imports From Morocco, Russia
The U.S. Department of Commerce said on Tuesday it would set preliminary duties on phosphate fertilizer imports from Russia and Morocco, after launching an investigation to determine if producers in these countries were receiving unfair subsidies.
The department set https://bit.ly/363xEOO preliminary duties of 23.46% on imports from Morocco's OCP Group and other producers in the country, 20.94% on those from Russia's Phosagro , 72.50% on EuroChem and 32.92% on all other Russian producers.
The decision follows an investigation launched in July on petitions filed by U.S.-based fertilizer company Mosaic Co .
Shares of Mosaic rose about 10% to $22.57, their highest in more than a year, while U.S. and Canada-listed shares of rival Nutrien rose more than 3%.
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The department set https://bit.ly/363xEOO preliminary duties of 23.46% on imports from Morocco's OCP Group and other producers in the country, 20.94% on those from Russia's Phosagro , 72.50% on EuroChem and 32.92% on all other Russian producers.
The decision follows an investigation launched in July on petitions filed by U.S.-based fertilizer company Mosaic Co .
Shares of Mosaic rose about 10% to $22.57, their highest in more than a year, while U.S. and Canada-listed shares of rival Nutrien rose more than 3%.
Click Here to read more.