Egyptian exporters are again submitting applications to load phosphate rock cargoes after a hiatus of around a month caused by uncertainty over government export policy.
Market participants say exports will continue as normal to the end of the year, but that 2027 availability is not yet clear.
Prices for new cargoes have not yet emerged. Some traders expect them to settle higher, but others see stable June prices and the potential for a rise in July.
Higher oil prices are pushing up mining and trucking costs in Egypt. Seasonal demand for transporting the latest wheat and beetroot crops is also tightening availability of trucks to take phosphate rock from mines to ports.
Egyptian phosphate rock producers and exporters stopped offering fresh cargoes after petroleum and mineral resources minister Karim Badawi stated on 3 May that Egypt would stop approving new exports and prioritise supply for domestic phosphate producers.
No legal memorandum followed and the government has not issued any official statements on the subject since the 3 May press release.
The government is reportedly reviewing Egypt's expected 2027 demand for phosphate rock.
In the press release, Badawi highlighted ongoing phosphate projects in Egypt, including Misr Phosphate's joint venture with industrial group Indorama.
Exporters argue that lower grades of Egyptian rock — notably from the Abu Tartour mines — draw less demand from domestic consumers than higher grades from other mines.
Egypt is a significant supplier of rock to Asia-Pacific, much of that supply being 26-27pc P2O5 rock from Abu Tartour.
