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The price of industrial grade urea has risen sharply

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The price of industrial grade urea has risen sharply

2022-05-25



The price of industrial grade urea has risen sharply







Since 2021, the international fertilizer market has experienced a sharp rise due to the rising prices of natural gas and other raw materials, and the disruption of the global supply chain due to the epidemic. After the conflict between Russia and Ukraine, the sanctions imposed by Western countries on Russia and the counter-sanction measures taken by Russia have caused the uneasy international fertilizer prices to rise again.


On March 10, the Russian Ministry of Industry stated that it would ban the export of fertilizers to "unfriendly" countries. On March 12, the Ukrainian government decided to temporarily ban the export of all types of fertilizers.


"Since the Ukrainian crisis, global nitrogen fertilizer prices have soared by 40%-50%, and the prices of phosphate and potash fertilizers have risen by about 30%." Russia's Interfax news agency recently reported.








 
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