rock phosphate rises to $110 us fob morrocco, page-43

"You really have no idea. Demand has never exceeded supply, phosphate is plentiful."

Thank you for the insult but I beg to differ, I do have an idea.

Reserves are not the issue, it is production capacity which determines supply of rock phosphate.

Production capacity was temporarily exceeded by demand.

"These latest price falls only confirm that the global supply squeeze, which drove prices to extreme levels in 2008, is now well behind us."

http://www.anz.com/documents/economics/ANZ_Fertiliser_Market_11May2009.pdf

If you have some secret information as to what caused the price spike perhaps you could share it with us?