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China relaxes urea export controls
China has issued export quotas for urea fertilizers, which may help ease the sharp rise in global prices resulting from trade disruptions related to the Iran conflict and the closing of the Strait of Hormuz. This decision comes after China previously banned the export of certain commodities in March to protect local farmers, indicating that there are sufficient supplies available to allow for some exports. It is expected that this move will contribute to stabilizing fertilizer prices and supporting global agricultural production.
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