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Russia's Cabinet set export duties on fertilizers of 7% with minimum floors per tonne: 1,100 rubles for nitrogen, 2,100 for phosphate and 1,800 for potash. The duties apply from September 1, 2023 through December 31, 2024, according to a draft decree.
Russia is a major fertilizer exporter, so an export levy tightens offshore supply and supports fertilizer prices, which raises feed input costs for buyers.
tass.comAug 31, 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.
Not enough comparable past events yet for a historical read.
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.
