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China begins 150% special export tariff on fertilizers

Tuesday, September 02, 2008 |

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China on Monday launched a 150 percent special export tariff on nitrogenous fertilizer and synthetic ammonia, a move to satisfy domestic demand, according tothe customs tariff commission (CTC) of the State Council.

The commission said the special tariff on the two products would last through the end of this year. The previous tariff for the two fertilizers was 100 percent. The commission also said the 100 percent special export tariff on other fertilizers has been extended to the end of this year.

Continued at Xinhua News

Xinhua China News

Goldmau.com comment:

Another sign of how China is restraining commodity supplies in the global market perspective. Such a move will further drive up the price of high demand commodities.

Commentary courtesy David Cai, Goldmau.com analyst.

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