China’s major fertiliser producers stop signing new urea export deals – report
China’s major fertiliser producers stop signing new urea export deals – report

China’s major fertiliser producers stop signing new urea export deals – report

 

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Some of China’s major fertiliser producers have stopped signing new urea export deals since the start of this month under a government order, Bloomberg News reported, citing sources.

That came after urea futures on the Zhengzhou Commodity Exchange surged nearly 50% in the 7 weeks between mid-June to end-July, after which prices have been more volatile, falling about 11% this week.

China is the world’s largest producer and consumer of urea, and the suspension of exports is expected to tighten supply and push up global prices. This past weekend, Sinoagri Holding said that it would limit urea shipments to ensure supply and keep prices stable.