Summary of urea market conditions across China in June 2016

Urea price trends across China Author/Source: China Fertilizer Network Date: 2016-06-01 Clicks: 8 The urea market sees moderate demand from industrial users; in most areas, agricultural producers remain reluctant to stock up on fertilizer, and a few manufacturers have lowered their prices. In the Shandong region, the prevailing prices for urea remain stable for now; support from industrial and agricultural sectors remains weak. A few manufacturers that supply primarily for industrial use have seen their prices drop by 10 yuan per ton (prices are given per ton, the same applies below) ； In the Hebei region, the price of low-end urea has dropped by 20 yuan, to 1230–1250 yuan, while prices for high-end urea remain relatively stable ； A large manufacturer in Henan has already released its products, and normal production is expected to resume soon. New orders from most local manufacturers are at average levels; the mainstream factory prices range from 10-20 yuan lower, at 1270-1290 yuan, with actual transaction prices being slightly lower ； The situation regarding shipments from manufacturers in Shanxi is average; the standard factory price ranges from 10 yuan to 1220–1250 yuan, for shipments outside the region... (The omitted details can be found in the member area; the same applies hereafter.) ； Weather conditions in Anhui region are generally average. Additionally, affected by cheaper supplies from other provinces, the mainstream ex-factory prices for urea there have decreased by 20 yuan at the lower end, now ranging from 1,300 to 1,330 yuan; actual transaction prices are slightly lower ； In Guangdong and Guangxi, rainfall was high in the early period; demand from industry and agriculture was not concentrated, and there was also a large supply of goods at low prices from other provinces. As a result, the mainstream ex-factory price in Guangxi is only 1440–1450 yuan, which is the price for industrial use…… ； In the Inner Mongolia region, the operating rate has slightly declined, while mainstream ex-factory prices remain largely stable. Although manufacturers are not seeing rapid sales growth, there is still a shortage in the local topdressing market. Some manufacturers have indicated that they will take this opportunity to keep prices firm. Overall, weather conditions are average in most areas, and there is a shortage of funds at the local level; as a result, distributors are very cautious when stocking fertilizers. Purchases in the industrial sector are scattered, and tensions between upstream and downstream parties persist. Low-priced urea supplies from regions such as Inner Mongolia and Xinjiang are also being sold in other markets. Therefore, it is expected that urea prices will remain weak in the near term, with further attention needed to be paid to the progress of fertilizer preparation in certain agricultural areas. 　　Regional market prices: Unit: yuan/ton (bolded values in the table refer to large-grain urea) http://www.nmtech.com.cn/sys/sec_zxwz.jpg

Urea price trends across China Author/Source: China Fertilizer Network Date: 2016-06-02 Clicks: 2 The urea market sees moderate demand from industrial users; in most areas, agricultural producers remain reluctant to stock up on fertilizer, and a few manufacturers have reduced their prices. In Shandong, Shanxi, the regions along the two rivers, and Anhui, the prevailing ex-factory prices of urea remain relatively low and stable for now. Industrial demand remains sluggish. Reportedly, the purchase price in Linyi is... (The omitted parts can be found in the members’ section; the same applies below.) Farmers are currently carrying out or about to begin wheat harvesting. Urea producers are hopeful that agricultural fertilizer procurement will soon get underway. Additionally, the overall operating rate in Henan..…… ； In Jiangsu Province, affected by cheaper urea supplies from other provinces, the prevailing ex-factory prices for urea have dropped by 30 yuan recently, now ranging from 1,350 to 1,370 yuan; actual transaction prices are slightly lower ； Industrial orders in Sichuan remain stable, while agricultural purchases are quite weak. Additionally, low-priced urea from regions such as Inner Mongolia and Qinghai has begun to arrive, which has led to a decline of around 50 yuan in the main ex-factory prices of urea in that area, bringing them to between 1380 and 1430 yuan. Transaction prices are slightly lower, with some manufacturers… On the export side, traders purchased around 110,000–120,000 tons of large-grain urea from China; the price is said to be…, and these goods will be sold in the Americas. Overall, export conditions are not ideal; the support from industry and agriculture remains weak, and there is continued stalemate between upstream and downstream sectors. Therefore, it is expected that urea prices will remain stable or slightly decline in the near term, with further attention needed to be paid to the progress of agricultural fertilizer preparation in certain areas. 　　Regional market prices: Unit: yuan/ton (bold numbers in the table refer to large-grain urea) http://www.nmtech.com.cn/sys/sec_zxwz.jpg

Urea prices have slightly declined; agricultural demand for fertilizers remains weak. Author/Source: China Fertilizer Network. Date: June 2, 2016. Views: 2. In the urea market, industrial purchases are average. In most regions, agricultural demand for fertilizers remains sluggish, while prices have dropped at a few manufacturers. In Shandong, Shanxi, the Two Rivers region, and Anhui, the main factory prices for urea remain stable for now. Demand from industrial sectors is modest. Farmers are currently harvesting wheat or about to do so, and urea manufacturers are looking forward to an increase in demand for fertilizer use in agriculture. In Jiangsu, low-priced urea from other provinces has put pressure on local markets; as a result, the main factory prices for urea there have dropped by 30 yuan, to between 1350–1370 yuan, with actual transaction prices being slightly lower ； Industrial demand for urea in Sichuan remains stable, while agricultural purchases are quite weak. Additionally, low-priced urea from regions such as Inner Mongolia and Qinghai has begun to arrive, which has led to a drop of around 50 yuan in the main export prices of urea in that area, bringing them to the range of 1380–1430 yuan. Transaction prices are slightly lower. In terms of exports, traders have purchased approximately 110,000–120,000 tons of large-grain urea from China. Overall, the export situation is not very favorable; the demand from both industrial and agricultural sectors remains weak, and there is continued stagnation in transactions between suppliers and buyers. Therefore, it is expected that urea prices will remain stable or decline slightly in the near term. Going forward, it will be necessary to monitor the progress of agricultural fertilizer preparation activities in various regions.

Urea price trends across China Author/Source: China Fertilizer Network Date: 2016-06-03 Clicks: 8 Demand for urea in the industrial sector remains weak; in most areas, the time for farmers to prepare fertilizers has not yet arrived, and a few manufacturers have lowered their prices. In Shandong, Shanxi’s two river regions, and Anhui, the prevailing ex-factory prices for urea remain stable for now. Demand from industrial sectors is average, while agricultural use for fertilizer preparation is quite sporadic. In these areas, the premium prices for urea still remain 10–20 yuan lower per ton. Some manufacturers are reporting stable prices but actually reducing them secretly; the ex-factory prices for local sales by manufacturers in Shandong’s two river regions are generally around… (the omitted details can be found in the member area; same applies below) ； In Jiangsu Province, affected by cheaper urea supplies from other provinces, the mainstream ex-factory prices of urea dropped by 20 yuan at the lower end, settling between 1,330 and 1,370 yuan; actual transaction prices were slightly lower ； The shipments from manufacturers in Hubei are average; the standard factory prices range from 1320–1350 yuan, with a discount of 30 yuan at the lower end. Prices for local sales are usually... while prices for orders sent to other places are negotiated on a case-by-case basis ； The market conditions in the northeast, northwest, and southwest are also average, with manufacturers offering weak pricing. Regarding large-grain urea, demand remains weak; manufacturers mainly ship their products to ports. Recently, the ex-plant prices offered by manufacturers in Heilongjiang and Inner Mongolia have dropped by 20 yuan. Internationally, the asking price for bulk urea shipments by shuttle tanker in New Orleans, USA, at the beginning of this week is …, which is the same as the lower price from last week ； ……. Overall, the international situation is unfavorable; the operating rates of domestic industrial compound fertilizer plants have declined slightly, which will result in a reduction in orders received by these plants. The preparation of fertilizers for agriculture is still occurring a bit early, so it is expected that urea prices will remain low in the near term. Subsequently, it will be necessary to monitor the progress of fertilizer preparation activities in various agricultural areas. 　　Regional market prices: Unit: yuan/ton (bolded in the table refers to large-grain urea) 　　

Urea price trends across various regions in China
Author/Source: China Fertilizer Network
Date: June 3, 2016
Views: 8
The industrial demand for urea remains sluggish. In most regions, it isn’t yet time for agricultural fertilizer procurement. Meanwhile, prices have declined at a few manufacturers. In Shandong, Shanxi’s two river regions, and Anhui, the prevailing ex-factory prices for urea remain stable for now. Demand from industrial sectors is average, while agricultural use for fertilizer preparation is quite sporadic. In these areas, the premium prices for urea still remain 10–20 yuan lower per ton. Some manufacturers are reporting stable prices but actually reducing them secretly; the ex-factory prices for local sales by manufacturers in Shandong’s two river regions are generally around… (the omitted details can be found in the member area; same applies below) ； In Jiangsu Province, affected by cheaper urea supplies from other provinces, the mainstream ex-factory prices of urea dropped by 20 yuan at the lower end, settling between 1,330 and 1,370 yuan; actual transaction prices were slightly lower ； The shipments from manufacturers in Hubei are average; the standard factory prices range from 1320–1350 yuan, with a discount of 30 yuan at the lower end. Prices for local sales are usually... while prices for orders sent to other places are negotiated on a case-by-case basis ； The market conditions in the northeast, northwest, and southwest are also average, with manufacturers offering weak pricing. Regarding large-grain urea, demand remains weak; manufacturers mainly ship their products to ports. Recently, the ex-plant prices offered by manufacturers in Heilongjiang and Inner Mongolia have dropped by 20 yuan. Internationally, the asking price for bulk urea shipments by shuttle tanker in New Orleans, USA, at the beginning of this week is …, which is the same as the lower price from last week ； ……. Overall, the international situation is unfavorable; the operating rates of domestic industrial compound fertilizer plants have declined slightly, which will result in a reduction in orders received by these plants. The preparation of fertilizers for agriculture is still occurring a bit early, so it is expected that urea prices will remain low in the near term. Subsequently, it will be necessary to monitor the progress of fertilizer preparation activities in various agricultural areas. 　　Regional market prices: Unit: yuan/ton (bold numbers in the table refer to large-grain urea) http://www.nmtech.com.cn/sys/sec_zxwz.jpg

May 25–June 1: Urea prices declined once again. Author/Source: Date: June 3, 2016. Click-through rate: 1. Market trends: This week (May 25–June 1), based on the average ex-factory prices of 65 urea producers nationwide as compiled by reporters, urea prices continued to trend downward. The average domestic ex-factory price is 1,363 yuan per ton, down by 9 yuan per ton compared to last week. As we enter June this week, the urea market is about to enter the peak season for fertilizer use, yet prices have not rebounded as expected. Instead, they continue to fall, with prices dropping in most areas of the country. The prevailing price of urea in Shandong region has dropped to 1,250 yuan per ton; support from both industrial and agricultural sectors remains weak, while a few manufacturers that supply primarily for industrial use are still open to negotiation on prices ； In the Hebei region, the price of low-end urea has reached 1,230–1,250 yuan per ton, while prices for high-end urea are generally at similar levels ； The mainstream ex-factory price in Henan has dropped to 1,270–1,290 yuan per ton, with transaction prices being slightly lower ； The export situation for manufacturers in Shanxi is average; the mainstream factory prices range from 1,220 to 1,250 yuan per ton, and this is also the general price at which transactions take place in the market ； The weather conditions in Anhui are average, and due to competition from low-priced supplies from other provinces, the mainstream ex-factory price of urea in that region has dropped to 1300–1330 yuan per ton, with actual transaction prices being slightly lower ； In Guangdong and Guangxi, there was significant rainfall in the early stages; industrial and agricultural demand was not concentrated, and a large amount of goods at low prices from other provinces also arrived. As a result, the mainstream ex-factory price in Guangxi is only 1440–1450 yuan per ton. 　　Future outlook: The domestic urea market remains weak this week, with price cuts and promotional offers emerging in some areas due to poor sales, indicating a shift in the mindset of domestic manufacturers. Expectations regarding the summer fertilizer market were already dampened by India’s second round of tenders; the extremely low levels of urea exports left domestic manufacturers with no choice but to resist or compromise. As June arrived, the reduction in maintenance activities among domestic urea manufacturers led to overcapacity becoming another issue of concern. Especially after losing its influence over urea exports in the second half of the year, the domestic selling price may use the FOB price as a pricing benchmark due to supply-demand pressures. Currently, the summer fertilizer market appears rather sluggish. There is a lack of enthusiasm for agricultural fertilizer procurement, and in the southern regions, there is a trend of selling off previously stocked inventory. It is expected that prices will unlikely see any significant recovery in the short term. (China Agri-Media)

Urea: Negative factors hit the market Author/Source: Date: 2016-06-03 Clicks: 1 Recently, the use of fertilizers for summer farming has begun, and urea prices have remained weak. Adopting a strategy of \"being cautious rather than taking bearish positions,\" manufacturers continued to stock up on an appropriate amount of fertilizer for use during the summer period from late May to early July. However, a series of negative developments in late May completely undermined market confidence. 　　Sentiment in the urea market suffered a setback. First, in late May, agricultural activity resumed in the south, and some distributors sold off their previous inventory; as a result, the price at which urea was delivered was even lower than the price of new shipments upon arrival. Taking the Guangdong and Guangxi markets as an example, the wholesale price, which was originally above 1,500 yuan per ton (the same unit applies hereafter), has dropped to below 1,450 yuan, with even lower prices for industrial purchases. This has also raised doubts within the industry regarding the markets in Central China, East China, North China, and Northeast China, which are about to enter the peak season for fertilizer use. Next was the urea tender in India, which concluded on May 19th and turned into a nightmare for manufacturers; the bid prices submitted by traders were not only lower than expected, but Chinese urea supplies were even said to have been ruled out. The urea industry faced internal problems first and then external challenges during the peak season, resulting in a severe downturn in morale among industry players. Distributors tend to clear their inventories, operating on a just-in-time basis ； On the side of manufacturing enterprises, due to heavy inventory pressure, price cuts and promotional activities have been resumed. The market situation for summer fertilizers can be described as: no peak demand during the peak season, and chaotic bidding. 　　Reduced production does not equate to phase-out. As June begins, urea producers that had suspended operations for maintenance earlier will gradually resume production, bringing an end to the two-month-long routine maintenance period. Thanks to the reduced production during the plant’s maintenance periods, the supply and demand of urea in the domestic market have basically reached balance, which naturally provides some support for prices. From March to May, due to planned maintenance, production cuts to maintain prices, and product adjustments, the operating rate of urea manufacturers dropped to 60%~65%, which reduced market supply pressure and kept prices relatively stable. Especially in the second half of the spring plowing season, there are still many orders waiting to be fulfilled for domestic sales, so factories have considerable confidence. In the face of India’s low-priced bids, domestic manufacturers simply state that the price difference between domestic and export prices is too large, and they are not considering such bids for now. This is indeed the increased influence that tighter urea supplies give to manufacturers. However, as the maintenance period came to an end, it was proven that \"a reduction in production within the industry does not mean the elimination of production capacity.\" By late May, the operating rate of urea plants returned to over 70%, followed by another round of price drops for urea. By the end of May, the price of urea at stations in Shanxi had dropped to 1,200 yuan ； The factory price in Shandong is 1,240 yuan, while the purchase price at the fertilizer plant in Linyi is only 1,290 yuan ； The ex-factory prices in Hebei and Henan have also been correspondingly reduced. Under these circumstances, although there will still be corporate maintenance work and production cuts in the future, their impact on reducing overcapacity will be limited. 　　Reconsidering compromise on low-price exports: Domestic urea prices are falling during the peak season, and the industry clearly views overcapacity as the biggest threat. Given the current situation of urea supply in the domestic market, it is not only difficult to resist dealers’ bargaining tactics, but there may also be a need to compromise by exporting at lower prices. To the author’s knowledge, the total bidding volume for India’s second round of tenders on May 19 reached 3.71 million tons. As of May 26, India’s tender volume was 1.35 million tons: 500,000 tons from China, 330,000 tons from Iran, 250,000 tons from the Middle East, 150,000 tons from Egypt and Algeria, and 120,000 tons from the former Soviet Union. China’s supply of 500,000 tons is truly astonishing. Some industry insiders speculate that the suppliers are manufacturers in Inner Mongolia, but given the port delivery price of 1,200 yuan, it is unlikely that this refers to spot goods delivered to the port; rather, it is probably the result of short-selling by traders. The author believes that if the domestic urea production rate cannot be controlled and prices continue to fall, and if urea manufacturers are willing to sell at losses, then the 500,000 tons of Chinese-produced urea intended for sale in Indian tenders could indeed become a reality. (Agricultural Supplies Herald)

Price trends of urea and compound fertilizers in Henan Province at the end of May. Author/Source: China Agri-Media. Date: 2016-06-03. Clicks: 1. Location: Tanghe County, Henan Province. Target: Hongtaiyang New Agri-Materials Service Co., Ltd., Duan Xuelan. Price trends: The ex-factory price of urea is 1,200 yuan per ton, while the wholesale price is 1,400 yuan per ton； The ex-factory price of 45% chlorinated compound fertilizer is 1,800 yuan per ton, while the wholesale price is 2,000 yuan per ton ； The ex-factory price of 45% sulfur-based compound fertilizer is 2,130 yuan per ton, while the wholesale price is 2,400 yuan per ton. 　　Market analysis: With the completion of summer sowing, the peak period for fertilizer use locally has passed. This year, the area dedicated to peanut cultivation in this region has increased, accounting for about one-third of the total arable land in the county. The fertilizer used for peanuts is mainly 12:18:10 fertilizer designed specifically for peanuts, while urea and compound fertilizers are primarily used for corn. Due to farmers’ limited knowledge of planting techniques, their initiative in fertilizing stems mainly from their expectations for the crops. Affected by low agricultural product prices, farmers are less enthusiastic about purchasing fertilizers, and the frequency of fertilization has also decreased. 　　Market forecast: The local fertilizer market has entered the off-season. Over the next 2 weeks, some farmers may apply urea as a top-dress due to rainfall, but influenced by farming traditions as well as practices such as planting fertilizers together with seeds and applying fertilizers in one go, the amount of top-dressing applied will not be large. Local farmers plant crops in a random manner, and their lack of farming skills leads to reduced crop yields. Some distributors have expressed the hope that relevant authorities can establish effective mechanisms to regulate the planting area of various crops, so that farmers can have a clear idea of what to expect. 　　Region: Luoyang City, Henan Province 　Target: Leyong Agricultural Production Materials Co., Ltd., Yang Huanbin 　Price trend: The ex-factory price of urea is 1200 yuan per ton, while the wholesale price is 1300 yuan per ton ； The ex-factory price of 45% chlorine-based compound fertilizer is 2,000–2,100 yuan per ton, while the wholesale price is 2,200–2,300 yuan per ton ； The ex-factory price of 45% sulfur-based compound fertilizer is 2,300–2,400 yuan per ton, while the wholesale price is 2,500–2,600 yuan per ton. 　　Market analysis: Wheat harvesting has begun locally. Since wheat in hilly areas matures slightly later than that in irrigated areas, the harvesting process will last 10–15 days. Affected by low corn prices, especially in hilly areas where the income from grain production is lower than the costs of fertilizers and labor, some farmers abandoned their corn cultivation this year. This has had a significant impact on the local fertilizer market, with sales falling by 30% compared to the same period in previous years. 　　Future market forecast: With the start of the summer grain harvest, the region enters a peak period for fertilizer use in corn cultivation. However, affected by the shrinking fertilizer market, and given today’s convenient transportation and timely fertilizer delivery—allowing customers to pick up orders on the same day they are placed—distributors still maintain low inventory levels even during the peak fertilization season. Overall, the current market is not in a peak season; it remains lukewarm, with few positive factors expected in the future. (Tong Ling, Niu Liting)

Urea and compound fertilizer price trends in Shandong Province at the end of May. Author/Source: China Agricultural Inputs Media. Date: June 3, 2016. Number of views: 1. Region: Binzhou City, Shandong Province. Recipient: Zouping Agricultural Means of Production Co., Ltd.; Lu Zhiqiang. Price trends: Currently, the ex-factory price of urea is —, while the wholesale price is——； The ex-factory price of 15% chlorinated compound fertilizer is 1,750 yuan per ton, while the wholesale price is 1,950 yuan per ton ； The ex-factory price of 15% sulfur-based compound fertilizer is 1,950–2,050 yuan per ton, while the wholesale price is 2,200 yuan per ton. 　　Market analysis: Last year, cotton prices dropped and yields were low; coupled with the high amount of fertilizer required for cotton cultivation, the area dedicated to cotton planting has decreased significantly this year. Due to low prices for grains, fruits, and vegetables, farmers’ incomes decline, prompting them to reduce their investments and prefer cheaper fertilizers. Due to the low prices of urea and diammonium fertilizers recently, sales of compound fertilizers have dropped significantly. However, due to the difficulties associated with handling urea at present, many dealers stop selling urea and focus instead on selling diammonium phosphate. 　　Future market forecast: Most compound fertilizer manufacturers adhere to a minimum sales volume guarantee, and the prices currently in effect are those from the end of March to early April. If prices are reduced, the existing inventory from earlier periods cannot be sold off, which puts manufacturers in a difficult situation; they prefer to sell less rather than reduce prices, which is why compound fertilizer prices remain ** high at the moment. It is expected that after the summer sowing season ends, and with the prices of nitrogen, phosphorus, potassium, and other elements falling, compound fertilizers will also see a slight price reduction. 　　Region: Zibo City, Shandong Province 　Target: Yihe Means of Production Chain Co., Ltd., Zhang Weiyi 　Price information: The current factory price for urea is 1,300 yuan per ton, while the wholesale price is 1,500 yuan per ton, a decrease of 20 yuan per ton compared to previous levels ； The ex-factory price of 15% chlorinated compound fertilizer is 1,800 yuan per ton, while the wholesale price is 2,000 yuan per ton ； The ex-factory price of the 15% sulfur-based compound fertilizer is 2,200 yuan per ton, while the wholesale price is 2,400 yuan per ton. 　　Market analysis: The area is characterized by many hills, which makes it difficult to facilitate the transfer of land use. Farmers here mainly grow crops such as apples, grapes, and cherries, with apples accounting for the largest proportion of the planted area. Last year, farmers who grew cherries and grapes reaped decent profits, so they were more enthusiastic about using fertilizers. With apple prices being less than half of their usual level, farmers who grow apples have suffered heavy losses; as a result, their enthusiasm for farming this year has **decreased**, and the amount of fertilizer used is about 60% less compared to previous years. 　　Future market outlook: As farmers become more aware, local farmers are increasingly accepting of new types of fertilizers. However, due to the sharp drop in apple prices last year, apple growers this year tend to use basic fertilizers in order to reduce cultivation costs. Regarding the market outlook, Zhang Weiyi said that the performance of the apple industry directly determines the condition of the local autumn compound fertilizer market; it will be clear only when the apple harvest season arrives in autumn. (Tong Ling, Niu Liting)

Urea and compound fertilizer price trends in Shandong Province at the end of May. Author/Source: China Agricultural Inputs Media. Date: June 3, 2016. Number of views: 1. Region: Binzhou City, Shandong Province. Recipient: Zouping Agricultural Means of Production Co., Ltd.; Lu Zhiqiang. Price trends: Currently, the ex-factory price of urea is —, while the wholesale price is——； The ex-factory price of 15% chlorinated compound fertilizer is 1,750 yuan per ton, while the wholesale price is 1,950 yuan per ton ； The ex-factory price of 15% sulfur-based compound fertilizer is 1,950–2,050 yuan per ton, while the wholesale price is 2,200 yuan per ton. 　　Market analysis: Last year, cotton prices dropped and yields were low; coupled with the high amount of fertilizer required for cotton cultivation, the area dedicated to cotton planting has decreased significantly this year. Due to low prices for grains, fruits, and vegetables, farmers’ incomes decline, prompting them to reduce their investments and prefer cheaper fertilizers. Due to the low prices of urea and diammonium fertilizers recently, sales of compound fertilizers have dropped significantly. However, due to the difficulties associated with handling urea at present, many dealers stop selling urea and focus instead on selling diammonium phosphate. 　　Future market forecast: Most compound fertilizer manufacturers adhere to a minimum sales volume guarantee, and the prices currently in effect are those from the end of March to early April. If prices are reduced, the existing inventory from earlier periods cannot be sold off, which puts manufacturers in a difficult situation; they prefer to sell less rather than reduce prices, which is why compound fertilizer prices remain ** high at the moment. It is expected that after the summer sowing season ends, and with the prices of nitrogen, phosphorus, potassium, and other elements falling, compound fertilizers will also see a slight price reduction. 　　Region: Zibo City, Shandong Province 　Target: Yihe Means of Production Chain Co., Ltd., Zhang Weiyi 　Price information: The current factory price for urea is 1,300 yuan per ton, while the wholesale price is 1,500 yuan per ton, a decrease of 20 yuan per ton compared to previous levels ； The ex-factory price of 15% chlorinated compound fertilizer is 1,800 yuan per ton, while the wholesale price is 2,000 yuan per ton ； The ex-factory price of the 15% sulfur-based compound fertilizer is 2,200 yuan per ton, while the wholesale price is 2,400 yuan per ton. 　　Market analysis: The area is characterized by many hills, which makes it difficult to facilitate the transfer of land use. Farmers here mainly grow crops such as apples, grapes, and cherries, with apples accounting for the largest proportion of the planted area. Last year, farmers who grew cherries and grapes reaped decent profits, so they were more enthusiastic about using fertilizers. With apple prices being less than half of their usual level, farmers who grow apples have suffered heavy losses; as a result, their enthusiasm for farming this year has **decreased**, and the amount of fertilizer used is about 60% less compared to previous years. 　　Future market outlook: As farmers become more aware, local farmers are increasingly accepting of new types of fertilizers. However, due to the sharp drop in apple prices last year, apple growers this year tend to use basic fertilizers in order to reduce cultivation costs. Regarding the market outlook, Zhang Weiyi said that the performance of the apple industry directly determines the condition of the local autumn compound fertilizer market; it will be clear only when the apple harvest season arrives in autumn. (Tong Ling, Niu Liting)