May 20 News

From January to April 2026, China’s cumulative export of various fertilizers reached 11.39 million metric tons, a year-on-year increase of 17.5%; the cumulative export value was USD 2.578 billion, up 29.1% year-on-year. Among them, urea cumulative export was 490,000 metric tons, up 5,661.1% year-on-year; ammonium sulfate cumulative export was 6.38 million metric tons, up 19.3% year-on-year; diammonium phosphate (DAP) cumulative export was 20,000 metric tons, down 76.3% year-on-year; monoammonium phosphate (MAP) cumulative export was 110,000 metric tons, up 48.1% year-on-year.

Chempricehub Analysis – Urea
Bull/Bear Score: 2
From January to April 2026, urea cumulative export was 490,000 metric tons, surging 5,661.1% year-on-year, indicating explosive growth in external demand, providing significant bullish support to urea spot prices. In the futures market, the main urea contract (2609) on the Zhengzhou Commodity Exchange closed at 1,817 RMB/ton on May 19, 2026, down 22 RMB/ton from the previous trading day. The strong improvement in exports is expected to provide robust upward support for urea futures prices in the coming period.

Ammonium Sulfate
Bull/Bear Score: 1
From January to April 2026, ammonium sulfate cumulative export was 6.38 million metric tons, up 19.3% year-on-year, reflecting steady growth in external demand and providing moderately bullish support to ammonium sulfate spot prices.

Monoammonium Phosphate (MAP)
Bull/Bear Score: 1
From January to April 2026, MAP cumulative export was 110,000 metric tons, up 48.1% year-on-year, showing a clear recovery in external demand, offering moderately bullish support to MAP spot prices.

Diammonium Phosphate (DAP)
Bull/Bear Score: -1.5
From January to April 2026, DAP cumulative export was 20,000 metric tons, plunging 76.3% year-on-year, indicating a sharp contraction in external demand, exerting strong bearish pressure on DAP spot prices.

Fertilizers (Overall)
Bull/Bear Score: 1
From January to April 2026, China’s cumulative export of various fertilizers was 11.39 million metric tons, up 17.5% year-on-year, with cumulative export value rising 29.1% year-on-year. The overall external demand for the fertilizer industry shows an improving trend, providing moderately bullish support to pricing across the fertilizer sector.