Yuan devaluation signals risks; VAT could offset

摘要

Keene, N.H.—This week China announced that it would set the official value of the Yuan (CNY) lower by ~2 percent vs. U.S. dollars (USD). On the surface this would lower the position of urea and phosphate producers on the global cost curve structure, according to Green Markets Senior Analyst Neil Fleishman. Fleishman noted that fertilizer is traded in USD, so obviously increasing exports boosts producer cash positions.