# August '24 Farmer Fertilizer Focus - Phosphate

> StoneX's Josh Linville outlines his August 2024 phosphate outlook, centered on India's subsidy program restricting phosphate imports and leaving stockpiles very low. He expects India to fix the subsidy scheme and then buy heavily to rebuild stocks, while noting that only five major exporters supply the market.

- Date: 2024-07-26 · published 2024-07-26T12:00:00.000Z
- Category: market · region India · magnitude medium
- Page: https://feedsoft.ai/events/29597-august-24-farmer-fertilizer-focus-phosphate
- Commodities: [Phosphate Rock](https://feedsoft.ai/c/PHOSROCK.md), [Potash (KCl)](https://feedsoft.ai/c/POTASH.md), [Urea](https://feedsoft.ai/c/UREA.md), [TSP](https://feedsoft.ai/c/TSP.md), [DAP](https://feedsoft.ai/c/DAP.md)

## Why it matters

A likely Indian restocking binge from a small group of exporters would tighten phosphate supply and support DAP and phosphate prices, which feed into higher fertilizer costs for farmers and feed producers' input outlook.

## Read by commodity

- DAP: bullish ▲
- TSP: bullish ▲
- UREA: neutral
- POTASH: bearish ▼
- PHOSROCK: bullish ▲

## Sources

- stonex.com: https://www.stonex.com/en-gb/insights/august-24-farmer-fertilizer-focus---phosphate-1512158/
- stonex.com: https://www.stonex.com/en-gb/insights/august-24-farmer-fertilizer-focus---potash-1512159/
- stonex.com: https://www.stonex.com/en/insights/august-24-farmer-fertilizer-focus---phosphate-1512158/
- stonex.com: https://www.stonex.com/en/insights/august-24-farmer-fertilizer-focus---urea-1512153/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.