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On July 3, the State Council issued the "15th Five-Year Plan for Building a Beautiful China." The plan proposes promoting green and low-carbon lifestyles. It includes improving the green product certification and labeling system; promoting the sale of new energy vehicles, green smart home appliances, and green building materials in rural areas; promoting green charging for new energy vehicles and green electricity retail packages for residents; improving green consumption incentive mechanisms; expanding the scope and scale of government procurement of green products; fostering ecological culture; continuing activities such as National Ecological Day and World Environment Day; strengthening ecological civilization publicity and education; continuing the "Beautiful China, I am an Actor" series of activities; guiding the public to save water and electricity; promoting the "Clean Plate Campaign"; reducing the use of disposable items; and resisting excessive packaging. The plan also includes improving urban public transportation, slow-traffic systems, and greenway networks to develop green travel.According to the Islamic Republic News Agency (IRNA), Iranian Parliament Speaker Qassem Ghalibaf stated that the United States and Israel have failed to achieve any of their objectives in the war. All parties have now concluded that the military operation against Iran has failed.The State Administration for Market Regulation announced that in June 2026, a total of 7 automobile manufacturers filed recall plans with the State Administration for Market Regulation, announcing the recall of a total of 41,800 vehicles.Rengo, Japans largest labor union, said on Friday that Japanese companies have agreed to wage increases of more than 5% for the third consecutive year, indicating that continued wage growth is gradually becoming a stabilizing trend supporting the worlds fourth-largest economy. The union, which has 7 million members, said the final results of the annual labor-management negotiations showed that Japanese companies agreed to an average wage increase of 5.01% this year. The average wage increase for Japanese companies was 5.25% last year and 5.10% the year before. Kazutaka Maeda, an economist at Meiji Yasuda Research Institute, said that the positive outcome of the labor-management negotiations, coupled with the positive turn in real wage growth in recent months, "should boost consumer spending and strengthen the case for the Bank of Japan to continue its gradual interest rate hike path." Analysts expect that robust corporate profits and a severe labor shortage will maintain the upward trend in wages, with many predicting similar wage increases next year.July 3rd - According to data from the China Passenger Car Association (CPCA), preliminary statistics show that from June 1st to 30th, the national passenger car market saw retail sales of 1.037 million new energy vehicles, a 7% decrease year-on-year but a 9% increase compared to the same period last month. The cumulative retail sales this year reached 4.734 million vehicles, a 13% decrease year-on-year. From June 1st to 30th, national passenger car manufacturers wholesaled 1.506 million new energy vehicles, a 22% increase year-on-year and an 11% increase compared to the same period last month. The cumulative wholesale sales this year reached 6.812 million vehicles, a 6% increase year-on-year.

Europe's Fertilizer Shortfall Boosts US Nitrogen Exports

Skylar Williams

Oct 26, 2022 14:19

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Due to rising European natural gas costs, U.S. nitrogen fertilizer exports reached a multi-year high this summer.


The Ukrainian conflict's worldwide food and energy supply impacts are shown by strong U.S. sales. Russia, which faces financial sanctions, produces fertilizer and natural gas, which are needed to make nitrogen-based products that boost corn and other crop yields.


Since Russia invaded Ukraine in February, Europe has weaned itself off Russian natural gas and shut down an ammonia pipeline to a Ukrainian port.


Due to a global fertilizer shortfall that has raised crop nutrient prices, the UN issued a "future availability crisis" alert this month. European fertilizer factories have closed due to high prices.


The world's third-largest fertilizer producer, the United States, exported 370,000 short tons in August, more than double the year-ago figure, according to the latest U.S. Census Bureau data compiled by industry organization The Fertilizer Institute (TFI) for Reuters. TFI began recording statistics in 2013.


According to London-based Argus Media CEO Alistair Wallace, European customers are outbidding domestic buyers in the US and other exporting nations like Indonesia and Malaysia.


Despite the export surge, TFI data shows that U.S. nitrogen fertilizer production was at its second-highest level in a decade in June, indicating a global dislocation rather than scarcity.


Jason Troendle, economist at TFI, which includes CF Industries (NYSE:CF) and Nutrien (NYSE:NTR), said it is unclear if the U.S. produced more or shifted more supplies to Europe in July and August (NYSE:NTR).


Troendle noted that the US exports little and cannot backfill markets.


Troendle said France, Belgium, Norway, Lithuania, Morocco, Chile, and Brazil had the biggest year-over-year U.S. purchase growth.


According to Wallace, European countries now buy urea, a nitrogen fertilizer, from outside.


He claimed EU nitrogen costs fell in mid-October as some European plants resumed output due to dropping natural gas prices.


According to Copa-Cogeca secretary-general Pekka Pesonen, European farmers cannot stockpile fertilizer before sowing next spring due to high prices and limited supply.


"We need tremendous volumes in a short time," Pesonen said.


Despite rising input prices, U.S. farmers may plant more fertilizer-intensive corn next year. Farm Futures polled growers and predicted a 10-year high of 94.282 million acres for corn acreage, up 6.4% from 2022.


Belmond, Iowa farmer Dave Nelson pays $1,280 per ton for fertilizer, up from $350 two years ago. For 2023 budgeting, he obtained this price this fall.


"I might as well do it because (price) would just climb," said maize and soybean farmer Nelson. Skimping on fertilizer will hurt you.


Investment bank Itau BBA reported that Brazil, which imports 85% of its fertilizer, bought more ammonium nitrate from the US, Belgium, and Holland in January–September to compensate for lower Russian supply.

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