The EU announces the suspension of some fertilizer import tariffs to mitigate the impact of the Middle East conflict

This measure will take effect the day after its publication in the Official Journal of the European Union. Affected by the situation in the Middle East, the passage through the Strait of Hormuz, which carries about one third of the world's maritime fertilizer trade, has been obstructed, leading to a significant rise in global fertilizer prices. The United Nations Food and Agriculture Organization has previously warned that a long-term blockade of the Strait of Hormuz could trigger a disaster in the agricultural and food sectors. The announcement stated that the suspension of tariffs aims to reduce production costs for the EU's agriculture and fertilizer industries and is expected to save them about 60 million euros in tariff expenditures. However, this tariff exemption does not apply to fertilizer products imported from Russia and Belarus. Currently, although the EU grants tariff-free status for fertilizers imported from countries with preferential access policies, it still imposes a 5.5% to 6.5% tariff on a large amount of fertilizers imported from other countries and regions. According to the announcement, the EU imported 2 million tons of ammonia and 5.9 million tons of urea in 2024. (Xinhua News Agency)