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The comprehensive index of wholesale fertilizer prices in China remained stable. Author/Source: China Agricultural Inputs Distribution Association. Date: 2019-08-29. Clicks: 19. http://my.fert.cn/attached/image/20190828/20190828153318_114.jpg. Recently (from August 19 to August 23), the comprehensive index of wholesale fertilizer prices in China stayed stable. On August 26, the China Fertilizer Wholesale Price Index (CFCI) was 2,150.25 points, down 4.03 points on a month-on-month basis, representing a decline of 0.19% ； It dropped by 15.89 points on a year-on-year basis, representing a decline of 0.73% ； It dropped by 228.59 points from the base period, representing a decline of 9.61%. http://my.fert.cn/attached/image/20190828/20190828153339_256.jpg On August 26, the China Compound Fertilizer Retail Price Index (CCRI) was 2473.80 points, up by 3.24 points on a month-on-month basis, representing a growth rate of 0.13% ； It increased by 17.37 points year-on-year, a rise of 0.71% ； It increased by 27.09 points compared to the base period, a rise of 2.51%. Supply situation: In terms of nitrogen fertilizers, more urea manufacturers have stopped production for maintenance, resulting in an overall operating rate of around 67%. The operating rates of those using coal and gas as raw materials have also decreased, leading to a reduction in market supply. In terms of phosphate fertilizers, the operating rate of diammonium fertilizer manufacturers has increased slightly, reaching around 61%, with these companies still implementing plans to reduce production in order to maintain prices. Regarding potassium fertilizers, the delivery price for the 60% powdered crystal version of the salt lake-based product is 2,250 yuan per ton, with a discount of 20 yuan per ton ； Port potassium inventories remain above 2.8 million tons, with ongoing inventory pressure ； Potassium supply for border trade has not yet recovered, and there is virtually no spot supply in the market. In the compound fertilizer market, the operating rate of compound fertilizer producers remains below 50%. On one hand, this is due to the ongoing strict environmental regulations; on the other hand, Typhoon Lekima caused damage to crops in Shandong and other regions, leading to a decline in fertilizer demand. As a result, the operating rate of compound fertilizer enterprises is rising only slowly. Demand Situation Regarding nitrogen fertilizers, there is no improvement in the demand for urea ； Agricultural demand remains in the off-season ； Industrial demand has shown no significant recovery; due to environmental regulations, the operating rates of compound fertilizer manufacturers are increasing slowly, and demand for urea remains moderate. In terms of phosphate fertilizers, the domestic autumn market for DAP remained weak, with limited new orders and sluggish market demand ； The export market remains stagnant. Regarding potassium fertilizers, the operating rates of compound fertilizer manufacturers have not shown significant improvement, and there has been no increase in demand for such fertilizers. In terms of compound fertilizers, due to natural disasters, the demand for such fertilizers has declined in regions such as Shandong and Jiangsu ； At present, the company is mainly handling orders placed in the pre-shipment phase, with limited demand for fertilizers at the grassroots level. International Market International nitrogen fertilizer prices are on a downward trend. Following the bidding process, demand for international urea remains weak, new orders are scarce, and prices continue to fall. International phosphate fertilizer prices continue to decline, while inventory levels of diammonium phosphate in the Indian and Pakistani markets remain high. Chinese companies are adopting production cutback measures to maintain price stability, resulting in export prices for diammonium phosphate staying around 330 dollars per ton FOB. International potash prices remain generally stable, with no news on major contracts in China. Future outlook: In the nitrogen fertilizer market, the operating rates of urea manufacturers have declined significantly, leading to a reduction in market supply, which has a positive impact on urea prices to some extent ； Demand remains weak, with no significant positive factors at present ； In summary, it is expected that urea prices will remain weak in the short term, with a slight decline not ruled out. In terms of the phosphate fertilizer market, demand for diammonium phosphate is weak both domestically and in export markets. The production cuts undertaken by companies to maintain prices have only a limited impact on raising prices, and there are no significant positive factors in the market ； In summary, it is expected that the price of diammonium fertilizers will remain relatively stable in the short term, with a possibility of further decline. In terms of the potassium fertilizer market, port inventory levels of potassium remain high at present, resulting in a situation of supply exceeding demand in this market ； There is no significant support on the demand side at present; compound fertilizer manufacturers in the Northeast region may hold ordering meetings in September, which could lead to an increase in demand for potash fertilizers ； In summary, potassium fertilizer prices are expected to remain stable overall in the short term. In the compound fertilizer market, due to natural disasters and environmental pressures, there has been no significant increase in the operating rates of compound fertilizer manufacturers ； Demand remains sluggish, with downstream distributors placing orders mainly based on their needs ； In summary, it is expected that compound fertilizer prices will remain generally stable in the short term. (Zhou Yuqing) http://www.nmtech.com.cn/sys/sec_zxwz.jpg