Chinese government has implemented a series of fertilizer control measures to regulate the market and ensure a stable supply

From late October, the Chinese government has implemented a series of fertilizer control measures to regulate the market and ensure a stable supply. Learn more about the key actions taken:
1⃣ Abating speculation in urea futures: The Zhengzhou Commodity Exchange has adjusted the trading margin standards and price limits for urea futures contracts, effectively curbing speculation and indirectly impacting urea spot prices.
2⃣ Boosting fertilizer supply: The National Development and Reform Commission held a meeting to ensure the winter production of nitrogen fertilizer, with major natural gas suppliers participating. Additionally, 12 urea producers have pledged to increase supply and reduce exports, fulfilling their social responsibility.
3⃣ Adjusting national fertilizer commercial reserves: New assessment standards for the 2023/2024 national fertilizer commercial reserves have been introduced, allowing for a more flexible target completion percentage for storage companies. This adjustment prevents further price hikes and reduces risks for storage enterprises.
4⃣ Refining fertilizer exports: Government departments are working on establishing transparent rules for fertilizer exports, aiming to avoid market volatility caused by concentrated exports or rumors.