China allows fresh urea exports amid Iran war-fuelled fertiliser crisis
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The price of urea fertiliser surged after the closure of the Strait of Hormuz, through which a large share of global fertilisers usually flowed through.
PHOTO: REUTERS
China has issued export quotas for urea fertiliser, sources with direct knowledge of the matter said, a move that could help ease soaring global prices for one of the world’s most widely used crop nutrients after supply disruptions linked to the Iran war.
One of the world’s largest fertiliser exporters, China banned exports of many categories in March to protect domestic farmers from the surge in prices triggered by the closure of the Strait of Hormuz, through which a large share of global fertilisers and their inputs normally flow.
Urea exports are managed by a quota system, and the issuance of quotas signals that the authorities are confident there is enough domestic supply to release some for export.
One Chinese urea producer confirmed to Reuters that it had received export quotas but declined to provide further details. An Indian importer also said the Chinese government had issued a notification permitting urea exports, though no specifics were disclosed. REUTERS
