note on rp prices q3 2008 fob morocco 450 500, page-46

http://www.fertilizer.org/ifa/publicat/PDF/2006_cape_town_ifa_summary.pdf

"Between 2006 and 2010, new processed
phosphate projects will essentially focus on
DAP. Global DAP capacity is projected to grow
by a net 3.3 Mt P2O5, reaching 24.1 Mt P2O5 in
2010. China will contribute 40 per cent of the
growth in DAP capacity. The other main
additions will come from Saudi Arabia and
northern Africa. In contrast, some DAP capacity
was shut down in the United States in 2005 and
2006."

So Ma'aden production of 3mt will only add about 12.5% to world DAP production based on the projected 2010 estimate....so by the time they come on stream in 2012 demand would have more than risen to absorb their production.