The rock phosphate benchmark Moroccan export price has reportedly increased to US$350-400 per tonne FOB. This is a leap from the $200 per tonne December 2007 price and is a multiple of the $50 per tonne of earlier in 2007.
According to reports of last Friday in the trade journal Fertilizer News, and quoting RBC Capital Markets, Moroccan rock phosphate exporters realised sales of US$350-400 per tonne FOB in the first quarter of 2008, an increase of US$150-200 per tonne.
Minemakers Limited (ASX: MAK) believes that the outlook for the rock phosphate price is very positive due to the strong underlying demand fundamentals that are being driven by rising global demand for agricultural products, particularly from China, and the rising use of biofuels.
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