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Egypt's Ministry of Trade and Industry raised the export fee on nitrogen fertilizers to LE600 per ton, a 300% increase from LE200, after world fertilizer prices jumped in January and February. The average world nitrogen price is about $370 per ton, up from $230 in 2020.
Egypt is a notable nitrogen exporter, so the higher export fee should cut available supply on the world market and support urea and ammonia prices.
english.ahram.org.egMar 9, 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.
