March 25th News — Russia, a major fertilizer supplier, announced on Tuesday that it will temporarily suspend ammonium nitrate exports for one month. Ammonium nitrate is a type of nitrogen fertilizer, and Russia controls up to 40% of the global ammonium nitrate trade. Exports are expected to resume on April 21. This move by Russia is primarily aimed at ensuring supply for the domestic spring planting season. The Russian Ministry of Agriculture stated that it has halted the issuance of all previously granted ammonium nitrate export licenses and will no longer issue new ones, with the exception of licenses related to government contracts.

Chempricehub Analysis on Ammonium Nitrate, Bull-Bear Score: +2
Russia controls 40% of the global ammonium nitrate trade, and the one-month suspension of exports to ensure domestic spring planting supply will lead to a significant reduction in global supply. On the demand side, agricultural activities during the spring season may remain stable or increase, and the supply shortage is expected to drive up spot prices. The score is +2 (significant bullish factor), due to the large scale of the supply disruption and its direct impact on market supply-demand balance.