After several months of negotiations, India's annual potash fertilizer contract was finally announced on April 4, 2023.

Xinhua news in Beijing, January 4 (reporters Xu Ke, Dong Xue), Foreign ministry spokesman Wang Wenbin said at a regular press conference that Regional Comprehensive Economic Partnership (RCEP) has enabled regional countries to deepen cooperation and increase efficiency, which is a major victory for multilateralism and free trade. China will work with all parties to actively participate in the construction of RCEP mechanism and make positive contributions to regional prosperity and world economic

On 9 Nov., Argentine grain port workers have staged a surprise strike because of poor wage negotiations and other factors, delaying exports by one of the world's largest exporters, the labor union representing the country's grain port workers expressed on Monday.

India's dependence on urea imports will decrease from 30% to 10-15% in the short term.

The new price of Yanhu in August remained stable.

Indian fertilizer importer RCF did not receive any bids for its purchase of 50,000 tonnes of 15-15 and 30,000 tonnes of 10-26-26, which closed on June 29.

Indian fertilizer importer NFL has issued a tender to purchase 80000 tons of diammonium phosphate.

The big contract has not been confirmed yet, and currently the prices of potassium fertilizer remain firm.

Indian fertilizer importer RCF has issued a tender to purchase 50000 tons of 20-20-0+13S and 10-26-26, respectively, with a 10% increase or decrease. The bidding deadline is May 16th, and the quotation will be valid before May 22nd.

This week, the potassium sulfate market has strengthened, with some products slightly rising.

Recently, the market for potassium chloride has indeed performed well. Although the price has loosened, the range is very limited, and there have been continuous inquiries. The port inventory has significantly decreased, and the bearish sentiment in the market was no longer as severe as before.

Customs: From April 12th to August 31st, urea inspection will be lifted, and receipts will be issued within 10 working days. After this news was released on April 12th, urea prices increased by 120-150 yuan/ton over the weekend. Although exports have not yet provided direct benefits for domestic urea, the cost and mentality of downstream compound fertilizers have been greatly improved.

There has been no significant improvement in the weak market of potassium chloride this week, with domestic potassium fertilizer prices remaining unchanged and imported prices still fluctuating at a low level.

Prices of potassium fertilizer are declining.

Last week, the global potassium chloride market experienced a rebound from a sustained downturn.

Before and after the Spring Festival holidays, the domestic urea price increased by around 200 yuan/ton. As the holiday came to an end, the main agricultural production areas needed to replenish their inventory, resulting in a significant increase in upstream shipments. Some factories controlled the quantity and received orders, while others rose twice a day. As a result, the domestic urea price showed a comprehensive upward trend.

According to BelTA News Agency on Monday, Belarus' Ambassador to India, Andrei Rzheussky, stated that Minsk is seeking to restart potassium fertilizer exports to this South Asian country.

Starting from the fourth quarter of 2023, the escalation of conflicts in the Middle East has led to armed attacks on commercial ships in the Gulf of Suez and the Red Sea, causing soaring freight costs along the way. Some Asian petrochemical companies are preparing to deal with long-term delays in transportation logistics.