China reportedly introduces export quotas
Photo: Amirhosein Khorgooi /AP/TT

China reportedly introduces export quotas for nitrogen fertilizer

Reuters reports that China has issued export quotas for nitrogen fertilizer, citing two producers who received quota shares.

China's customs authority has not responded to questions from the news agency about the data.

The news is reported after the closure of the Strait of Hormuz and the destruction of facilities around the Persian Gulf, caused by the Iran war, have created global shortages.

The world market price of nitrogen fertilizer has, as a result of production and supply disruptions - in parallel with sharp increases in global prices for oil, gas, ammonia, phosphate and sulfur - skyrocketed since the US and Israel's bombing war against Iran began on February 28.

On February 27, the price of nitrogen fertilizer was $484 per ton, compared with peak prices in April of over $850 per ton.

AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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