Urea market goes steady in the beginning of 2008 except minor price drops in a few regions. The producer?s price is generally within the range of RMB1,700 ~ 1,800/MT.

Despite the government?s policy to curb fertilizer exports, urea exports look thriving. Some producers in Shandong and Henan have signed export contracts for the month of Jan. The current urea export price is $355~360/MT (FOB), up $15/MT over the end of last year. High export price acts to prop up domestic market price.

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Inside This Issue

News Briefs 1

Urea Price Predicted to Linger High 2

Exemption of VAT Gives Little Spur to DAP Imports 2

NPK Production Decentralized in Nov. of 2007 3

Producer?s Prices 4

Inventories and Prices at Ports 5

Price Trends 10