Guangda Securities: The window for exporting phosphorus fertilizer has arrived, and we continue to have a positive outlook on the phosphorus chemical industry chain.

Guangda Securities released a research report stating that the export of phosphate fertilizer will be carried out in stages by 2025, with the window period concentrated from May to September, and customs inspection expected to take around half a month. Domestic demand for phosphate fertilizer is weak during the off-season, and prices face downward pressure, but exports are expected to enhance the profitability of enterprises. In recent years, the international market supply and demand have been favorable, and the price difference between domestic and foreign phosphate fertilizers is considerable. In 2024, the exports of monoammonium phosphate and diammonium phosphate in China decreased compared to the previous year, and in the first four months of 2025, exports saw a significant decrease, but with the arrival of the export window period, export volumes are expected to rebound, supporting phosphate fertilizer prices. The price of phosphate rock remains high, and leading phosphate chemical companies are actively laying out high-grade phosphate mineral resources, possessing cost advantages in the integration of the industry chain.