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Some of China's major fertiliser companies said they would temporarily suspend exports to secure domestic supply, according to the state planner. The move follows record-high urea futures on the Zhengzhou exchange, which rose over a third since the start of the year.
China is a top phosphate exporter, shipping 3.2 million tonnes of DAP and 2.4 million tonnes of urea in the first half of 2021.
Removing a major source of DAP and urea from the export market tightens global phosphate and nitrogen supplies, supporting fertilizer prices and raising input costs for feed grain producers.
reuters.comJul 30, 2021After 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.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% 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.
