Morocco and Russia Subject to Phosphate Fertilizer Import Duties
Back to Newsroom
Mentioned in this Article

Morocco and Russia Subject to Phosphate Fertilizer Import Duties

Thursday, March 11, 2021 12:00 PM
Share this article now
Topic:
Company Update
The Mosaic Company

TAMPA, FL / ACCESSWIRE / March 11, 2021 / Today, the U.S. International Trade Commission announced that it has completed its investigation and determined that subsidized phosphate fertilizer imports from Morocco and Russia have materially injured the U.S. phosphate industry.

As a result of this ruling, the U.S. Department of Commerce will issue countervailing duty orders on phosphate fertilizers from Russia and Morocco, which will remain in place for at least five years. The cash deposit rates for such imports are expected to be approximately 20 percent for Moroccan producer OCP, 9 percent and 47 percent for Russian producers PhosAgro and EuroChem, respectively, and 17 percent for all other Russian producers.

"Mosaic employees are proud to support American farmers by producing high quality, reliable fertilizer," said Mosaic President and CEO Joc O'Rourke. "Today's decision upholds our belief that fair trade is a cornerstone of a healthy U.S. economy, and that American farmers will benefit from having a more competitive American fertilizer industry."

About The Mosaic Company

The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single-source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at www.mosaicco.com.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the expected deposit rates and anticipated benefits or strategic plans for our products. Such statements are based upon the current beliefs and expectations of The Mosaic Company's management and are subject to significant risks and uncertainties as reported from time to time in The Mosaic Company's reports filed with the Securities and Exchange Commission.

Media

Ben Pratt
The Mosaic Company
813-775-4206
[email protected]

Investors

Laura Gagnon
The Mosaic Company
763-577-8213
[email protected]

SOURCE: The Mosaic Company

Back to Newsroom
Copyright 2022 © ACCESSWIRE. All rights reserved. Privacy Policy  |   Terms and Conditions