2020 NPK Imports Won’t Ascend, and the Exports Would Go Up

Except MOP, NPK is another main imported fertilizer product in China. NPK imports in 2019 recorded 1.3933 million MT, taking up 12.52% in the total. Along with the improving production technologies, NPK imports show the decreasing trend, and homemade NPK exports ascend greatly stimulated by favorable export policies. NPK exports in 2019 stood at 1.0077 million MT, only 0.3856 million MT less than NPK imports. It was predicted NPK imports and exports in 2020 would continue the trend.     
 
NPK in China is mainly exported to the areas of Southeast Asia and Africa, etc., where the development level of agriculture is relatively low. Chinese NPK products have the price advantage compared to the products from Europe. Besides, the exchange rate of US to RMB kept ascending, and had reached up to 7.1 by the end of May. On the one hand, it is good for exporting NPK; on the other hand, it increases the costs of NPK imports.
 
New coronavirus outbreaks brought adverse influence to China’s fertilizer imports and exports, but NPK imports didn’t ascend, and the trend of a continuous growth of exports didn’t change. During January and April 2020, NPK imports recorded 0.4777 million MT, down 6.11% year on year; the exports stood at 0.2734 million MT, up 7.24% year on year. It was predicted that NPK imports in 2020 would be 1.3 million MT, and the exports would go up to 1.1 million MT.