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Shipping through the Red Sea is being disrupted by Houthi rebel attacks. DAP prices have reached about $630 per tonne in the global market, above the $595 per tonne level Indian buyers have been willing to pay.
Industry sources say Europe is seeing even higher prices.
Longer routes and rising freight costs from Red Sea disruptions could lift fertilizer import costs, especially for India, and support phosphate prices. Buyers may face higher input costs for crops that feed livestock.
eng.ruralvoice.inAjeet SinghJan 19, 2024After 114 past bullish geopolitics events, DAP moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +1.2%), and +0.3% 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.
