Just need demand to return, suspect some dap has been sold at cost or below. Imo, some producers have been caught out by restarting plants too early, expecting demand to return and it hasn't.(could have been forced to sell off product just to survive). Atm there could be close to 25-30% of a years production of phosphates lost, massive amount. There would have to be a very good chance producers and supply chain will not be able to meet demand when it returns.
I was taking to a bloke from fertilizer week on friday, discussing lack of demand for fertilizer atm, he said for what it's worth he had heard from customers/contacts in the US that demand was expected to return over the next couple of months.
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