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India approved an additional subsidy of 57.16 billion rupees (about $757.8 million) for diammonium phosphate to keep retail prices for farmers stable despite a global price rally. The government had already raised its fertilizer subsidy by 140% in May for the 2021/22 financial year.
Phosphate prices have risen sharply, pressuring domestic makers to lift retail prices.
The subsidy supports Indian DAP demand and keeps import buying in place even as world prices climb, so it limits downside for global phosphate prices while signaling sustained fertilizer cost pressure on crop output.
reuters.comOct 12, 2021After 151 past bullish policy events, DAP moved a median +0.0% over 5 sessions (50% higher; middle half -0.6% to +0.9%), and +1.9% 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.
