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The global DAP market saw a new wave of price increases in early July 2025, driven by strong seasonal demand in India. India's June imports were 423,000 tonnes and its stocks were about 50% below typical June levels.
Tighter Chinese exports and higher phosphoric acid costs added to the upward pressure, and the Indian government raised its DAP subsidy.
Low Indian stocks and reduced Chinese supply keep import demand strong, which supports DAP prices and raises fertilizer costs for crop producers. Higher fertilizer costs can feed through to grain and feed prices over time.
easttrades.comJul 9, 2025Not enough comparable past events yet for a historical read.
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.
Early-July reporting of strong Indian seasonal demand, very low Indian stocks, tighter Chinese exports and higher phosphoric acid costs directly explains upward DAP price pressure just before the move.
