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China's Ministry of Finance set 2018 export taxes, effective January 1, cutting the NPK fertilizer export tariff to RMB100/t (about $15/t, roughly 5%) from 20% in 2017. Phosphate rock tariffs were also reduced, and urea and DAP tariffs stayed at 0%.
The article questions whether the cheaper export route will actually release Chinese NPK volume.
Lower export taxes on a sector with significant overcapacity could push more Chinese phosphate product onto world markets, which would weigh on international phosphate prices and lower input costs for feed-grain producers.
crugroup.comAuthor Calvin BallFeb 13, 2018Not enough comparable past events yet for a historical read.
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.
