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Egypt's Ministry of Trade and Industry issued decree 112 of 2021 raising the export duty on nitrogenous fertilizers from EGP 250 per tonne to EGP 600 per tonne, effective 1 March 2021. The Global Trade Alert classified the measure as certainly harmful.
The higher export duty reduces Egyptian nitrogen fertilizer exports, tightening global urea and ammonia supply and supporting prices.
globaltradealert.orgMar 1, 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.
