{"id":8450,"date":"2023-09-08T13:53:51","date_gmt":"2023-09-08T06:53:51","guid":{"rendered":"https:\/\/ceco.com.vn\/?p=8450"},"modified":"2026-11-03T09:54:53","modified_gmt":"2026-11-03T02:54:53","slug":"gia-phan-ure-tang-vot-trung-quoc-yeu-cau-tam-dung-xuat-khau","status":"publish","type":"post","link":"https:\/\/ceco.com.vn\/en\/gia-phan-ure-tang-vot-trung-quoc-yeu-cau-tam-dung-xuat-khau\/","title":{"rendered":"Urea Fertilizer Prices Surge, China Requests Suspension of Exports"},"content":{"rendered":"
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According to Bloomberg, Chinese authorities have instructed several domestic fertilizer manufacturers to temporarily suspend urea fertilizer exports following a sharp rise in domestic prices.<\/i><\/div>\n<\/header>\n<\/article>\n<\/div>\n<\/div>\n
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Urea Fertilizer Prices Surge Sharply in China<\/h2>\n

Bloomberg reported, citing multiple sources, that Chinese regulatory authorities have requested several domestic fertilizer producers to suspend urea exports after urea fertilizer prices<\/strong> on the domestic market spiked.<\/p>\n

According to Bloomberg, some of China's largest fertilizer manufacturers have suspended signing new urea export contracts since early this month upon instructions from regulatory authorities.<\/p>\n

To date, CNAMPGC Holding, one of the largest fertilizer producers in China, has publicly announced plans to curb urea exports to secure domestic supplies and stabilize market prices.<\/p>\n

Earlier in mid-August 2023, several Chinese fertilizer traders indicated that the Chinese government might tighten fertilizer export controls to safeguard food security amidst rising prices for rice and key agricultural commodities.<\/p>\n

\"Urea
Top importing countries of urea fertilizer from China during the first 7 months of this year. (Source: General Administration of Customs of China, Bloomberg)<\/figcaption><\/figure>\n

China is currently one of the world's largest producers and exporters of fertilizers. Consequently, any move restricting international supply from China risks driving global market prices significantly higher.<\/p>\n

On the Zhengzhou Commodity Exchange (China), urea futures contracts climbed nearly 50% between mid-June 2023 and late July 2023, followed by high volatility. On September 7, urea futures fell 6% following news of China's export curbs.<\/p>\n

See also: Forecast: Fertilizer prices could rise another 30%, DCM shares hit ceiling on Industry & Trade Magazine.<\/a><\/em><\/p>\n

According to Huatai Futures (China), the recent spike in domestic urea prices was driven primarily by low inventory levels coupled with elevated export shipments. By early August 2023, manufacturer inventory in China dropped over 75% compared to 1.16 million tons recorded in early June 2023.<\/p>\n

Abrupt Tightening in Global Fertilizer Supply<\/h2>\n

China's temporary halt on urea exports will significantly impact importing nations such as India, South Korea, Myanmar, and Australia. This also injects greater volatility into global agricultural operations. Global agricultural markets are already contending with adverse weather events, India's agricultural export restrictions, and the Russia-Ukraine military conflict.<\/p>\n

After hitting bottom in June, global prices of urea and other fertilizer categories have rebounded considerably in recent weeks, driven by abrupt supply tightness and expectations of rising seasonal application demand. Specifically, the expiration of the Black Sea Grain Initiative between Russia and Ukraine threatens higher crop prices and compromised food security, leading to a recovery in urea prices across multiple regions due to steady buying since the final week of June 2023.<\/p>\n

Meanwhile, supply in Southeast Asia has tightened as production plants in Malaysia, Brunei, and Indonesia undergo scheduled maintenance. In the Middle East, the Egyptian government decided to indefinitely extend a 30% gas supply cut to all domestic urea producers, heavily impacting international supply. In 2022, Egypt accounted for 4% of global production and 8% of global urea exports.<\/p>\n

Source: Industry & Trade Magazine<\/p>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

According to Bloomberg, Chinese authorities have instructed several domestic fertilizer manufacturers to halt urea exports following a sharp surge in domestic market prices.<\/p>","protected":false},"author":1,"featured_media":8451,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-8450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tin-tong-hop"],"acf":[],"_links":{"self":[{"href":"https:\/\/ceco.com.vn\/en\/wp-json\/wp\/v2\/posts\/8450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ceco.com.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ceco.com.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ceco.com.vn\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ceco.com.vn\/en\/wp-json\/wp\/v2\/comments?post=8450"}],"version-history":[{"count":1,"href":"https:\/\/ceco.com.vn\/en\/wp-json\/wp\/v2\/posts\/8450\/revisions"}],"predecessor-version":[{"id":8452,"href":"https:\/\/ceco.com.vn\/en\/wp-json\/wp\/v2\/posts\/8450\/revisions\/8452"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ceco.com.vn\/en\/wp-json\/wp\/v2\/media\/8451"}],"wp:attachment":[{"href":"https:\/\/ceco.com.vn\/en\/wp-json\/wp\/v2\/media?parent=8450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ceco.com.vn\/en\/wp-json\/wp\/v2\/categories?post=8450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ceco.com.vn\/en\/wp-json\/wp\/v2\/tags?post=8450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}