In early December 2025, China’s fertilizer market entered a critical phase characterized by across-the-board cost increases and a continued tight supply–demand balance. Rising prices of raw materials such as sulfur and sulfuric acid have pushed up costs for phosphate fertilizers and potassium sulfate. Meanwhile, the potash market remains firm at high levels, supported by concentrated supply and rigid winter stocking demand.In the international market, a pattern of strong dem

By the end of November 2025, China’s fertilizer market displayed clear structural characteristics: While the potash sector benefited from the newly signed annual import contract that set a cost floor, downstream demand remained weak, limiting actual transactions and keeping the market in a state of fragile stability. Conversely, upstream raw materials such as phosphate rock, sulfur, and sulfuric acid showed structural upward trends driven by tight supply or cost-push effects.

I. Overview of China’s Fertilizer Import and Export (January–October 2025) (1) Exports: Significant Growth in Both Volume and Value From January to October 2025, China exported a total of 38.42 million tons of bulk fertilizers, representing a year-on-year increase of 48.3%. The total export value reached USD 11.55 billion, up 64.56% from the previous year. In October alone, exports remained exceptionally strong: 5.057 million tons, up 71.1% year-on-year, with an export value

I. Comprehensive Overview of Fertilizer and Related Goods Imports and Exports in September 2025 (1) Export Market: Ammonium Sulfate Leads with Significant Overall Growth Since the beginning of 2025, China’s fertilizer export market has continued to expand, with total fertilizer exports from January to September reaching 33.363 million tons, marking a year-on-year increase of 45.4%. Among them, ammonium sulfate remained the dominant export variety, with cumulative exports reac