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India's fertilizer sales rose 7.6% year on year to 667,000 tonnes in October 2024. DAP sales surged 91.9% to 309,000 tonnes, while urea offtake fell 22% to 358,000 tonnes.
DAP and NP domestic prices rose about 1% each.
Strong Indian DAP demand tightens import needs and supports DAP prices. The sharp drop in urea offtake, with a closing balance of 841,000 tonnes, is bearish for urea.
mettisglobal.newsMG NewsNov 15, 2024After 66 past bullish report events, DAP moved a median 0.0% over 5 sessions (41% higher; middle half -0.6% to +0.7%), and +0.3% over 20.
After 42 past bearish report events, Urea moved a median +0.3% over 5 sessions (57% higher; middle half -1.9% to +3.3%), and +2.9% 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.
