National Corn Growers Association says Moroccan phosphate duties may be back

Last week, the U.S. Department of Commerce made a move to reduce import duties on Moroccan phosphate fertilizer. However, the agriculture community, represented by groups such as the National Corn Growers Association (NCGA), suggests that this adjustment may not be permanent.

Nancy Martinez of the NCGA stated that the current duty rate might see fluctuations later this year. This stems from the Department of Commerce’s ongoing remand process, initiated by the Court of International Trade, to revisit and potentially recalibrate these duties. The results of this review are expected to be announced in December.

NCGA has been a consistent voice, advocating for reduced fertilizer duties. Their stance is rooted in the pressing need for farmers to access lower-priced fertilizers. Between 2020 and 2022, phosphate prices witnessed a staggering increase of over 230%. As farmers strive to stabilize their operations, affordable pricing remains a critical factor to ensure their ventures remain viable.

Furthermore, the NCGA is keeping a close eye on global fertilizer supply chains. Notably, the association is monitoring European nitrogen production, which might experience impacts due to geopolitical tensions in the Middle East.