President Trump has signed an executive order to temporarily suspend import tariffs on Moroccan fertilizer. “From a practical, economical, fundamental, non-emotional point of view, this doesn’t really do much for us right now,” said Josh Linville, StoneX vice president of agriculture. “When you look at North America phosphate values versus the rest of the world, we’re already one of the cheapest. That doesn’t mean that the prices are cheap by any means; they’re still incredibly high, but when you look at it, North America’s one of the worst destinations for phosphate.” Still, Linville says there’s room for optimism that Morocco could respond to the move.”What I’m hoping for is that Morocco will, quote-unquote, reward us. For the last five years, they have been steadfast in saying we will not ship any phosphate to the US marketplace as long as this rate is in place. Now, even though we’re a terrible destination, we are truly hoping that they will send product here as a kind of a thank-you or a reward for Trump’s move to suspend these tariffs.”
