The prolonged conflict in the Middle East has driven fertilizer prices to soar, and the agricultural ETF ChinaAMC (516810) continues to strengthen, with First Tractor hitting the daily limit
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The prolonged conflict in the Middle East has led to a surge in fertilizer prices, with the agricultural ETF ChinaAMC (516810) rising 1.08% during the midday session on March 12, and First Tractor hitting the daily limit. The Middle East is a major global production area for fertilizers, and the conflict has affected fertilizer transportation, resulting in tight supply in the international market. The price of urea in the United States has risen to USD 550 per ton, an increase of USD 70 from the previous week. Institutions believe that fertilizer-related assets have investment value, and agricultural ETFs can serve as a tool for positioning in the agricultural rebound
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