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China has asked some fertilizer producers to suspend urea exports after domestic prices jumped. The move is expected to restrict supplies and raise costs for farmers in key importing countries.
Cutting China's urea exports removes a major source of global nitrogen supply, which tends to push up international urea prices and farm input costs.
bloomberg.comHallie GuSep 7, 2023
feedstuffs.comBloombergSep 7, 2023After 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.
China's request that producers suspend urea exports cuts global supply and raises prices, though reported Sept 7, after the move, it reflects the underlying driver already circulating.
China's request that producers suspend urea exports restricts global supply and plausibly drove the jump, though the article is dated two days after the move, so it likely reports a development already known to the market.
