MOP Imports in the First Half of 2020 Decreased by 1.65 Million MT Year on Year, and the Decline in the Second Half of 2020 Would Slow Down

MOP imports in 2019 reached 9.0756 million MT, 1.6127 million MT higher than 2018. From January to June of 2020, MOP imports recorded 3.7848 million MT, 1.6501 million MT less than that in the same period of last year. Influenced by many factors, MOP imports descended greatly. By the end of June, the decline in imports had been higher than that of last year.  
 
Currently, MOP stocks at main ports are almost the same as those in the same period of last year. By July 31^st, MOP stocks at main ports had reached 2.8142 million MT, 51,000 MT higher than those in the same period of last year and 430,900 MT less than a new high of 3.2451 million MT in February of 2020. Currently, the stocks at the ports still maintain at a relatively high level. However, due to the predications for a decline in MOP prices and off busy consumption, NPK companies have fewer stocks. During the process of autumn fertilizer production, port stocks would be consumed quickly. 
 
In 2020, the prices of grain crops such as corn and wheat ascend obviously and there are some policies, which encourage and stabilize grain production. In autumn of 2020, crop planting areas would improve, stimulating the consumption of K-fertilizer.
 
Besides, K-fertilizer reserves invited for bids in early August are 1.5 million MT, and K-fertilizer imports are required to be more than 80%, which would stimulate K-fertilizer imports. Under the situation of a stable consumption of K-fertilizer, the imports reduced in the first half of 2020 and would get better in the second half of 2020. It was predicted the imports in 2020 would range between 6.5-7.0 million MT.