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India's farmers pay a fixed ₹1,350 for a 50 kg bag of DAP, while the government's per-kilogram subsidy on that bag is about ₹2,368 under rates approved on 11 November. The rabi-season phosphate and potash subsidy outlay is estimated at ₹62,370 crore, up sharply from three winters ago, because the government absorbs world price changes.
Because Indian farmers' prices are held fixed, world DAP price movements flow through to government subsidy spending rather than demand, so the import bill and buying pattern are driven by global phosphate prices.
transclew.comKarthik MudaliarNov 15, 2026After 29 past neutral policy events, DAP moved a median +0.2% over 5 sessions (55% higher; middle half -0.4% to +1.3%), and +1.9% 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.
