China fertilizer exports fall 43.9% in August, down 23.7% year-to-date

China's fertilizer export slowdown matters beyond agriculture: fertilizer is a bulk commodity whose trade flows are tied to food security and, increasingly, to RWA and commodity-token narratives. The scale of the August drop suggests domestic supply priorities or export controls are shaping volumes, which affects import-dependent farmers and traders pricing nutrient inputs. Whether the year-to-date decline persists through the rest of 2025 is the open question, and it bears watching alongside any policy signals on export quotas.