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India's government raised fertiliser subsidies for the second half of FY26 to offset rising DAP costs, but importers could still lose about ₹900 per bag because landed prices exceed the subsidy. Industry expects a special package and long-term import contracts to ensure supply during peak season.
India is the largest DAP importer, so its procurement and any long-term contracts can firm global phosphate prices even as costs remain high.
business-standard.comShine Jacob, Sanjeeb MukherjeeOct 31, 2025After 250 past policy events, DAP moved a median +0.1% over 5 sessions (53% higher; middle half -0.6% to +1.3%), and +1.5% 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.
Indian importers face possible losses of about ₹900 per bag because landed prices exceed the subsidy, which could curb import buying at current levels and pressure DAP prices; the offsetting subsidy increase and expected special package limit the bearish impact.
