According to the latest statistics from China Customs, in April 2026 and the January-April period, China's fertilizer imports and exports presented a pattern of "growing exports and rigid demand for imports." Both export volume and price rose simultaneously, while imports remained dominated by potash fertilizers. The implicit fertilizer demand associated with imported grain and oil agricultural products also grew in tandem.

I. Fertilizer Exports: Ammonium Sulfate Becomes the Main Force, Urea Surges Year-on-Year

In April alone, China exported a total of 3.24 million tons of various fertilizers. Among them, urea accounted for 15,000 tons, ammonium sulfate 1.79 million tons, there were no exports of diammonium phosphate (DAP), and monoammonium phosphate (MAP) exports were only 0.05 million tons.

For the cumulative January-April period, the total national export volume of fertilizers reached 11.39 million tons, a year-on-year increase of 17.5%; the export value was USD 2.578 billion, a year-on-year increase of 29.1%, demonstrating a clear trend of simultaneous growth in volume and value.

By variety:

· Urea: Cumulative exports of 490,000 tons, a year-on-year surge of 5661.1%, mainly benefiting from a low base figure in the prior period and the release of quotas;

· Ammonium Sulfate: Cumulative exports of 6.38 million tons, a year-on-year increase of 19.3%, making it the largest exported variety, accounting for over 55% of the total;

· Diammonium Phosphate (DAP): Cumulative exports of 20,000 tons, a significant year-on-year decrease of 76.3%, with the impact of phosphate fertilizer export controls being notable;

· Monoammonium Phosphate (MAP): Cumulative exports of 110,000 tons, a year-on-year increase of 48.1%.

Calculated by nutrient content, the January-April fertilizer exports converted into pure nitrogen, phosphorus, and potassium nutrients totaled 1.644 million tons.

II. Fertilizer Imports: Muriate of Potash Dominates, Rigid Demand Characteristics Highlighted

In April alone, China imported 1.39 million tons of various fertilizers. Among them, muriate of potash (MOP) accounted for 1.23 million tons, and nitrogen-phosphorus-potassium (NPK) compound fertilizers accounted for 90,000 tons.

For the cumulative January-April period, muriate of potash imports were 5.81 million tons, a year-on-year increase of 24.7%; NPK compound fertilizer imports were 390,000 tons, a year-on-year increase of 20.8%, indicating that the external dependence on potash fertilizers remains high.

Calculated by nutrient content, the January-April fertilizer imports converted into pure nutrients totaled 3.673 million tons, far exceeding the scale of exported nutrients.

III. Implicit Fertilizer Use: Imports of Grain and Oil Agricultural Products Drive Fertilizer Demand

In the January-April period, China's major grain and oil agricultural products (cereals, beans, vegetable oils) implied an import of 2.172 million tons of pure fertilizer nutrients, a year-on-year increase of 17.1%. Agricultural product imports indirectly pushed up the gap in domestic fertilizer demand.

IV. Market Characteristics and Causes

1.Divergence in Export Structure: Ammonium sulfate became the main force due to the absence of export restrictions; phosphate fertilizer exports plummeted due to policy controls; and urea exports increased significantly year-on-year driven by quotas;

2.Significant Import Rigid Demand: Domestic potash resources are scarce, and the dependence on muriate of potash imports exceeds 70%, supporting the high level of import volume;

3.Obvious Price Transmission: Rising international energy prices have driven up the average export price of fertilizers. Combined with the recovery in overseas demand, this has pushed the growth rate of export value to exceed that of volume growth.