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Egypt raised its export duty on nitrogen fertilizers from EGP 600 to EGP 2,500 per tonne under a June 2021 decree. The duty takes effect immediately and remains in place until June 2022.
The move affects producers that export nitrogen fertilizer from Egypt.
The higher duty makes Egyptian nitrogen exports less attractive, which tightens some global urea and ammonia supply. The effect on prices is modest because Egypt is a relatively small exporter.
globaltradealert.orgJun 3, 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.
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.
