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India reported record fertilizer production in April to June 2023, with urea output at 7.4 million tons, DAP at 1.2 million tons and NPK at 2.4 million tons. Sales of urea, DAP and NPK rose 22% to 27% year on year, while MOP sales fell 23%.
Imports overall grew 25%, led by DAP, MOP and NPK, while urea imports fell 21%.
Strong Indian DAP and MOP import growth supports phosphate and potash demand, while lower urea imports point to reduced import pull for nitrogen. Overall the report signals firm Indian phosphate demand.
fertiliserindia.comFertiliserIndia.comJul 30, 2023After 66 past bullish report events, DAP moved a median 0.0% over 5 sessions (41% higher; middle half -0.6% to +0.7%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
After 42 past bearish report events, Urea moved a median +0.3% over 5 sessions (57% higher; middle half -1.9% to +3.3%), and +2.9% 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.
Record Indian DAP imports and sales point to strong demand pulling on global DAP supply.
