China's SOP exports declined by 48pc on the year to 17,400t in September, as higher domestic prices and firming freight rates continued to curb shipments. Domestic granular 50pc water-soluble SOP prices remained high and firm throughout September at 4,100-4,200 yuan/t ex-works ($641-656/t) despite flat demand on the back of elevated feedstock costs. Many exporters withheld offers or offered at around $640-660/t fob for export, which many buyers considered to be too high as a sustained rise in freight rates pushed delivered prices higher. Shipments to Mexico plummeted to 1,700t from 12,500t a year earlier, while exports to South Africa declined by 22pc on the year to 3,500t, trade data show. The bulk of the remaining tonnes went to Japan and Peru, which took 3,500t and 3,200t respectively.
January-September exports were lower by 36pc on the year at 186,600t, driven by sharp falls in shipments to Mexico, Iran and Myanmar. Mexico took 31,000t, down from 44,900t a year earlier. Exports to Iran fell to 513t from 41,400t a year earlier, while shipments to Myanmar fell by two-thirds on the year to 8,400t. The falls were partially offset by gains in exports to Peru and Japan by 2pc and 31pc on the year to 32,100t and 13,500t respectively. Offers are expected to remain scant and limited until there is further clarity on Chinese fertilizer export inspections. China's General Administration of Customs announced earlier this month that it would start inspecting fertilizer exports, including that of SOP, from 15 October.