From the perspective of inventory, the current global fertilizer supply tends to be tight, and the inventory of three kinds of elemental fertilizer and compound fertilizer in the Indian market has been at a low level since 2021, and the domestic phosphate fertilizer factory and port inventory, potash fertilizer factory and industry inventory are also at a low level. Low inventory stack plus April domestic and the end of the second quarter to the third quarter overseas fertilization season is coming, we judge that under the global replenishment demand, phosphate fertilizer, potash fertilizer and other price centers or will be further increased.
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