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The Russian government extended its mineral fertilizer export quotas until May 31, 2024. The total quota is about 17 million tonnes, including 9.8 million tonnes of nitrogen fertilizers and over 7.1 million tonnes of NPK fertilizers.
The decree aims to keep sufficient fertilizer in the domestic market.
Russia's export quotas cap a major global fertilizer supply source through mid-2024, supporting nitrogen and NPK prices and keeping input costs elevated for feed grain production.
tass.comNov 23, 2023After 129 past bullish policy events, Urea moved a median -0.1% over 5 sessions (47% higher; middle half -1.3% to +2.3%), and +1.4% over 20.
After 151 past bullish policy events, DAP moved a median +0.0% over 5 sessions (50% higher; middle half -0.6% to +0.9%), and +1.9% 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.
