# Softening global prices to cut fertiliser subsidy in FY24: Secy | Financial Express Mumbai - newspaper - Read this story on Magzter.com

> India's fertilizer secretary Arun Singhal expects global prices of urea and DAP to soften further, which should cut the government's FY24 fertilizer subsidy well below the record Rs 2.45 trillion estimated for FY23. Urea has fallen by a third since October. Future prices will depend on the Russia-Ukraine conflict.

- Date: 2023-01-18 · published 2023-01-18T12:00:00.000Z
- Category: policy · region India · magnitude low
- Page: https://feedsoft.ai/events/38107-softening-global-prices-to-cut-fertiliser-subsidy-in-fy24-secy-financial
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md), [DAP](https://feedsoft.ai/c/DAP.md)

## Why it matters

Expectations of further softening in urea and DAP prices point to continued bearish pressure on fertilizer import costs for India.

## Read by commodity

- DAP: bearish ▼
- UREA: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2024-04-24 | [Global fertiliser prices set to drop but gas risks cause concern \| Farm Online \| ACT](https://feedsoft.ai/events/5022-global-fertiliser-prices-set-to-drop-but-gas-risks-cause-concern-farm-online-act.md) | -0.7% | -6.4% |
| UREA | 2023-04-11 | [Fertiliser prices rise by Tk5 per kg as govt reduces subsidy \| The Business Standard](https://feedsoft.ai/events/36724-fertiliser-prices-rise-by-tk5-per-kg-as-govt-reduces-subsidy-the-business.md) | +4.6% | +6.6% |
| UREA | 2022-10-03 | [U.N. pushes for global fertilizer price cut to avoid 'future crisis' \| Reuters](https://feedsoft.ai/events/39049-u-n-pushes-for-global-fertilizer-price-cut-to-avoid-future-crisis-reuters.md) | +2.0% | -12.6% |
| UREA | 2025-06-26 | [China to Relax Urea Export Ban, Easing Global Price Pressure - Bloomberg](https://feedsoft.ai/events/24142-china-to-relax-urea-export-ban-easing-global-price-pressure-bloomberg.md) | +5.4% | +11.3% |
| UREA | 2023-07-04 | [Fertiliser prices fall, firms to expand exports :: Content :: Tập đoàn Hoá chất Việt Nam (Vinachem)](https://feedsoft.ai/events/34976-fertiliser-prices-fall-firms-to-expand-exports-content-tap-oan-hoa-chat-viet.md) | +2.6% | +37.6% |
| DAP | 2022-05-18 | [Global fertiliser rates soften after India’s cap on prices](https://feedsoft.ai/events/41715-global-fertiliser-rates-soften-after-india-s-cap-on-prices.md) | 0.0% | -11.0% |
| DAP | 2024-04-24 | [Global fertiliser prices set to drop but gas risks cause concern \| Farm Online \| ACT](https://feedsoft.ai/events/5022-global-fertiliser-prices-set-to-drop-but-gas-risks-cause-concern-farm-online-act.md) | -12.3% | -4.6% |
| DAP | 2023-04-11 | [Fertiliser prices rise by Tk5 per kg as govt reduces subsidy \| The Business Standard](https://feedsoft.ai/events/36724-fertiliser-prices-rise-by-tk5-per-kg-as-govt-reduces-subsidy-the-business.md) | +8.6% | -3.4% |

## Sources

- magzter.com: https://www.magzter.com/stories/newspaper/Financial-Express-Mumbai/SOFTENING-GLOBAL-PRICES-TO-CUT-FERTILISER-SUBSIDY-IN-FY24-SECY

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