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The White House modified its tariff order so that key nitrogen and phosphate fertilizers, including ammonia, urea, UAN, DAP and MAP, are exempt from US import tariffs, effective for goods imported from 13 November. The tariffs had been in place for about seven months and had raised US fertilizer prices to multi-year highs.
Most exporters except Russia had faced tariffs of 10-15%, with some up to 30%.
Removing tariffs should lower US delivered fertilizer costs and could restore import flows, easing pressure on farm input budgets. Cheaper nutrients may encourage farmers to resume purchases ahead of the spring planting season.
argusmedia.comCalder Jett, Sneha KumarMar 25, 2024After 81 past bearish trade events, Urea moved a median -1.0% over 5 sessions (28% higher; middle half -7.2% to +0.4%), and -5.5% over 20.
After 40 past bearish trade events, DAP moved a median -0.1% over 5 sessions (38% higher; middle half -3.7% to +0.5%), and -2.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
