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The Fertiliser Association of India expects fertilizer demand to rebound in the rabi season after a weak kharif, helped by higher subsidies. Urea consumption is expected to stay broadly stable and DAP near last year's levels, while NPKS demand may moderate in Karnataka and Telangana.
Reservoir levels at 178 major Indian reservoirs are down 27% from a year ago after a deficient monsoon.
India is the largest urea importer, so steady domestic urea demand and weaker NPKS use shape import needs and prices. Drought-related water stress could limit recovery and weigh on crop output.
livemint.comVijay C RoyNov 15, 2026After 37 past weather events, Urea moved a median +1.4% over 5 sessions (73% higher; middle half -0.1% to +1.6%), and +5.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
