# (2nd LD) S. Korea to extend tariff quota on urea, fertilizer material over China's export curbs | Yonhap News Agency

> South Korea will extend its tariff-rate quota on urea and ammonium phosphate through the end of 2024. The quota was due to expire this year. The move responds to supply risks from China's export restrictions, which have suspended customs procedures for urea shipments to Korea since late November.

- Date: 2023-12-11 · published 2023-12-11T12:00:00.000Z
- Category: policy · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/32638-2nd-ld-s-korea-to-extend-tariff-quota-on-urea-fertilizer-material-over-china-s
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md), [DAP](https://feedsoft.ai/c/DAP.md)

## Why it matters

Lower duties on imports from Indonesia and Saudi Arabia help Korea source urea elsewhere, which limits the price impact of China's curbs in that market.

## Read by commodity

- DAP: neutral
- UREA: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2024-10-25 | [Fertilizer market anticipates little impact from updated Russian export quotas](https://feedsoft.ai/events/27784-fertilizer-market-anticipates-little-impact-from-updated-russian-export-quotas.md) | -0.9% | -5.6% |
| UREA | 2025-12-11 | [Urea market braces for EU’s CBAM \| World Fertilizer](https://feedsoft.ai/events/21823-urea-market-braces-for-eu-s-cbam-world-fertilizer.md) | +1.0% | +11.2% |
| UREA | 2025-10-15 | [November '25 Farmer Fertilizer Newsletter - Phosphate](https://feedsoft.ai/events/22328-november-25-farmer-fertilizer-newsletter-phosphate.md) | -0.5% | +2.3% |
| UREA | 2025-10-06 | [TFI Chicago Conference: Insights into Fertilizer Markets](https://feedsoft.ai/events/22724-tfi-chicago-conference-insights-into-fertilizer-markets.md) | -0.8% | -0.3% |
| UREA | 2022-07-20 | [Morocco's OCP offers Africa 550k tonnes of fertilizers \| Financial Post](https://feedsoft.ai/events/40817-morocco-s-ocp-offers-africa-550k-tonnes-of-fertilizers-financial-post.md) | -1.2% | +13.6% |
| DAP | 2021-04-09 | [Govt asks companies not to hike non-urea fertilizer prices, look for alternative to expensive raw materials - Times of India](https://feedsoft.ai/events/47934-govt-asks-companies-not-to-hike-non-urea-fertilizer-prices-look-for-alternative.md) | +0.2% | +6.7% |
| DAP | 2024-10-25 | [Fertilizer market anticipates little impact from updated Russian export quotas](https://feedsoft.ai/events/27784-fertilizer-market-anticipates-little-impact-from-updated-russian-export-quotas.md) | +2.7% | +2.7% |
| DAP | 2020-03-20 | [Vietnam extends safeguard actions on imports of phosphorus fertilizers](https://feedsoft.ai/events/54079-vietnam-extends-safeguard-actions-on-imports-of-phosphorus-fertilizers.md) | -0.4% | +1.8% |

## Sources

- en.yna.co.kr: https://en.yna.co.kr/view/AEN20231211000952320

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.