A market view on China’s recent customs review of MKP, its possible HS code repositioning, and the potential impact on export procedures, supplier qualifications, and global fertilizer supply chains.

I. Sulfuric acid prices keep rising, pressuring phosphate fertilizer producers. Rumors say China may suspend its exports (over 40% of global output) from May, aiming to stabilize domestic supply, though no official notice exists; phosphate fertilizer costs will remain high short-term. II. China’s Q1 2026 fertilizer trade booms: exports 8.162mt (+14.1% YoY), imports 5.001mt (+30.5% YoY), with March average CIF import price USD 375.49/ton. III. Three major institutions warn fue