FX.co ★ China Lifts Curbs on Rare Earths, Fertilizer Exports to India

China has officially removed export restrictions on rare earth magnets, fertilizers, and tunnel boring machines to India, as reported by the India Times on Tuesday. This change followed discussions during Chinese Foreign Minister Wang Yi’s recent trip to India. During the visit, Wang Yi assured India's External Affairs Minister S. Jaishankar that China would meet India's demands for these critical resources. India had expressed significant concerns over these constraints, notably the abrupt limitations on fertilizer exports that adversely impacted the availability of Di-Ammonium Phosphate (DAP) during the crucial Rabi farming season. Furthermore, the automotive and electronics sectors had also voiced their worries regarding the restrictions on rare earth magnets and minerals from China, cautioning about potential major production disruptions due to the shortages.