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China released state potash reserves through auctions announced October 15, and potash prices fell about 10% from August decade highs. Domestic potash dropped to 3,281 yuan per ton, down 11.5% from August 5, and imported potash fell 9%.
The government also cracked down on price-gouging by major fertilizer producers.
State reserve auctions add supply to a market where China imports about half its potash, so lower prices may help feed and crop costs. Analysts warn the reliance on imports could make the decline short-lived.
caixinglobal.comLu Yutong, Manyun Zou, Flynn MurphyOct 25, 2021Not 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.
