# India Subsidy Cuts, Tampa November Ammonia Settlement Surprise Markets | CZ app

> India cut its DAP subsidy by 31%, leaving an estimated USD 100/tonne margin shortfall on imported DAP. The Tampa November ammonia settlement rose USD 50 to USD 625/tonne CFR, and India secured 1.67 million tonnes of urea in a tender closing October 20.

- Date: 2023-10-30 · published 2023-10-30T12:00:00.000Z
- Category: policy · region India · magnitude medium
- Page: https://feedsoft.ai/events/33941-india-subsidy-cuts-tampa-november-ammonia-settlement-surprise-markets-cz-app
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md), [DAP](https://feedsoft.ai/c/DAP.md)

## Why it matters

A subsidy cut reduces Indian import demand for DAP and the higher ammonia settlement lifts nitrogen costs, while the large Indian urea purchase supports urea prices.

## Read by commodity

- DAP: bearish ▼
- UREA: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2025-06-16 | [Fertilizer Markets Steady as EU Announces New Russia Tariffs \| CZ app](https://feedsoft.ai/events/24532-fertilizer-markets-steady-as-eu-announces-new-russia-tariffs-cz-app.md) | +3.6% | +14.9% |
| UREA | 2026-04-08 | [India raises fertiliser subsidy as US-Iran war lifts global prices \| Reuters](https://feedsoft.ai/events/9774-india-raises-fertiliser-subsidy-as-us-iran-war-lifts-global-prices-reuters.md) | +1.6% | -12.0% |
| UREA | 2025-05-19 | [More Clarity on Chinese Exports For Fertiliser Market \| CZ app](https://feedsoft.ai/events/9362-more-clarity-on-chinese-exports-for-fertiliser-market-cz-app.md) | -3.2% | -21.7% |
| UREA | 2025-12-05 | [Fertilizer market November/December 2025 market report](https://feedsoft.ai/events/5186-fertilizer-market-november-december-2025-market-report.md) | +0.6% | +10.9% |
| UREA | 2023-05-29 | [The government has set quotas for the export of mineral fertilizers in June – November 2023 \| AKM EN](https://feedsoft.ai/events/35872-the-government-has-set-quotas-for-the-export-of-mineral-fertilizers-in-june.md) | -8.1% | -3.1% |
| DAP | 2023-04-02 | [Oil prices surge after surprise move to cut output](https://feedsoft.ai/events/7947-oil-prices-surge-after-surprise-move-to-cut-output.md) | +0.9% | +1.3% |
| DAP | 2020-04-22 | [Govt cuts subsidy for non-urea fertilisers, to cost Rs 22,186.55 crore for FY21- Moneycontrol.com](https://feedsoft.ai/events/53948-govt-cuts-subsidy-for-non-urea-fertilisers-to-cost-rs-22-186-55-crore-for-fy21.md) | 0.0% | -7.1% |
| DAP | 2023-01-18 | [Softening global prices to cut fertiliser subsidy in FY24: Secy \| Financial Express Mumbai - newspaper - Read this story on Magzter.com](https://feedsoft.ai/events/38107-softening-global-prices-to-cut-fertiliser-subsidy-in-fy24-secy-financial.md) | +1.1% | -0.8% |

## Sources

- czapp.com: https://www.czapp.com/analyst-insights/india-subsidy-cuts-tampa-november-ammonia-settlement-surprise-markets/

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