China&#xx;s Diammonium Phosphate (DAP) market has witnessed a period of relative stability throughout February xxxx, despite facing internal pressures and a decline in global trade activity. This stability was primarily attributed to the limited export sanctions and dampening interest in the fertilizer market due to the Lunar New Year in Asia.
In China, the Government restrictions on DAP exports have capped the supply available to the international market, leading to more DAP remaining available domestically. Moreover, the lack of clarity regarding future export quotas keeps traders hesitant to engage in large transactions which resulted in customs clearance for DAP exports to remain suspended, further impeding international trade. Furthermore, holiday absence played a crucial role in dampening the market activity for the fertilizer market including DAP. Market activity has significantly decreased as participants enter the Lunar New Year holiday period, leading to limited buying and selling which...
