"This isn't a supply induced event, it was largely speculative...

"This isn't a supply induced event, it was largely speculative induced."

There is no central trading for rock phosphate. I suggest that any claim that the price spike was due to speculation is fanciful. Give me one analyst reference that supports your assertion.

"In fact there was an over supply purchased and this has also contributed to the subsequent falling of the phosphate price."

What does "an over supply purchase" mean? The price fell due to lower demand. That's pure supply/demand. You are reading things into the situation not supported by any evidence.