# Fertiliser: Institute blames high cost on foreign exchange restriction | FirstNigeriaTV

> Nigeria's National Fertiliser Technical Committee chairman, Prof. Victor Chude, said high fertiliser costs stem from the central bank's decision to stop providing foreign exchange to fertiliser importers. Importers must now buy dollars on open markets at a high naira rate. Chude warned this threatens food security.

- Date: 2019-08-09 · published 2019-08-09T12:00:00.000Z
- Category: policy · region Nigeria · magnitude low
- Page: https://feedsoft.ai/events/57521-fertiliser-institute-blames-high-cost-on-foreign-exchange-restriction
- Commodities: [DAP](https://feedsoft.ai/c/DAP.md)

## Why it matters

Importers forced to buy FX at open-market rates face higher landed costs for fertiliser and blending materials such as DAP. This will keep Nigerian fertiliser prices elevated and may reduce application.

## Read by commodity

- DAP: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DAP | 2022-07-06 | [China Tightening Restrictions on Fertiliser Exports: Reports \| CZ app](https://feedsoft.ai/events/40419-china-tightening-restrictions-on-fertiliser-exports-reports-cz-app.md) | +4.7% | +0.3% |
| DAP | 2021-12-13 | [The Complex Truth About Fertilizer Prices - The Fertilizer Institute](https://feedsoft.ai/events/43506-the-complex-truth-about-fertilizer-prices-the-fertilizer-institute.md) | 0.0% | -2.8% |
| DAP | 2021-05-13 | [Mosaic Co. Sues for Higher Duties on Fertilizer Imports](https://feedsoft.ai/events/47414-mosaic-co-sues-for-higher-duties-on-fertilizer-imports.md) | +1.0% | +6.5% |
| DAP | 2022-01-28 | [EXCLUSIVE India plans over $40 billion for food, fertiliser subsidy for 2022/23 - sources \| Reuters](https://feedsoft.ai/events/43458-exclusive-india-plans-over-40-billion-for-food-fertiliser-subsidy-for-2022-23.md) | -0.6% | +19.5% |
| DAP | 2026-03-19 | [China restricts fertiliser exports, further crimping war-tightened supply \| Reuters](https://feedsoft.ai/events/20095-china-restricts-fertiliser-exports-further-crimping-war-tightened-supply-reuters.md) | +1.4% | +12.7% |

## Sources

- firstnigeriatv.com: https://www.firstnigeriatv.com/fertiliser-institute-blames-high-cost-on-foreign-exchange-restriction/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.