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China dropped its export duties on nitrogen fertilizers, according to a Green Markets report dated January 3, 2017. The article text is truncated, so the scope of the removal beyond nitrogen products is not clear.
Removing export duties makes Chinese nitrogen cheaper to ship abroad, adding export supply and pressuring global urea prices lower.
fertilizerpricing.comSteve SeayJan 3, 2017After 34 past bearish policy events, Urea moved a median -0.8% over 5 sessions (38% higher; middle half -3.3% to +1.8%), and -4.5% 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.
