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Thai farmers report fertilizer costs on track to double from 2020, with urea, phosphate and potash prices at 16,000 baht per tonne. China is stepping up inspections of fertilizer exports after a customs notice dated October 11, which adds to supply concerns for Thailand, a major importer of Chinese fertilizer.
Higher fertilizer costs and Chinese export curbs raise planting costs for rice and could cut the next crop. This supports rice prices and keeps fertilizer prices elevated.
caixinglobal.comOct 20, 2021After 168 past bullish policy events, Rough Rice moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), and -0.4% over 20.
After 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.
