China institutes fertilizer export restrictions in effort to control prices

The national flag of China

China has moved to curb fertilizer exports in an effort to shore up domestic supplies and stabilize prices, Bloomberg reported on Friday.

According to the publication, the China Nitrogen Fertilizer Industry Association, which is run by the civil affairs ministry, called on members to recall shipped cargoes and limit further exports.

The organization also requested that manufacturers lower their sale prices if their profit margins are high.

China in September caused market turmoil when it instructed a number of urea exporters to suspend shipments of the critical fertilizer following a price surge. Prices, however, began creeping up again last month.

Add Fertilizer Daily to your followed sources to get market news first  

Enjoyed the story?

Once a week, our subscribers get their hands first on hottest fertilizer and agriculture news. Don’t miss it!