China Nitrogen Fertilizer Industry Association: Initiative to strengthen industry self-discipline, benefit farmers.

Since April 30th, due to information asymmetry and the habitual thinking within the industry that exports will drive up domestic market prices, speculative capital has significantly raised futures prices, thereby causing a substantial increase in spot prices. This is obviously not conducive to ensuring the supply of fertilizers and supporting the overall agricultural production in our country, and also goes against the original intention of the nitrogen fertilizer industry to establish a self-regulation mechanism for urea exports. In order to stabilize market expectations and promote the stable operation of the domestic fertilizer market, the China Nitrogen Fertilizer Industry Association has issued the following proposals to all industry enterprises: 1. Nitrogen fertilizer backbone enterprises should actively provide benefits to farmers, and adjust urea ex-factory prices back to no higher than the level before May 6th within 3 days. If individual enterprises fail to comply with this industry self-discipline proposal and disrupt the hard-won good policy environment for industry development, their membership services will be suspended and they will bear the corresponding policy consequences. 2. It is necessary to strengthen industry self-discipline, achieve orderly and healthy urea exports, and resolutely eliminate "internal competition" for low prices to grab international market share, as such behavior will not be recognized by the association. Let us all work together to achieve sustainable and healthy development of the nitrogen fertilizer industry.