[Asia Economy Reporter Cho Hyun-ui] Amid growing inflation concerns due to China's power shortage, the Chinese government has imposed additional requirements on fertilizer exports.
Bloomberg News reported on the 19th (local time), citing an anonymous source, that "cargo containers loaded with fertilizer in China are ready for shipment but are stuck due to increased inspections by local governments."
The source explained, "To export fertilizer, a newly established certificate must be obtained," adding, "If it is not for domestic sales, it effectively blocks the export route."
The intensified inspections by Chinese local governments began on the 15th at customs. The National Development and Reform Commission of China recently stated that stable fertilizer supply and prices are necessary for agricultural production and food security.
Due to the global energy crisis, fertilizers, which are raw materials for coal and natural gas, are currently at record high prices. This move by the Chinese government is expected to impact global trade as well.
Bloomberg News said, "A global fertilizer shortage is already occurring," and "China's largest fertilizer buyers include India and Pakistan."
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