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The Indian government says reports of a DAP shortage are misleading, noting the farm-gate MRP has stayed at Rs 1,350 per bag and subsidy has been increased through two Cabinet decisions. It also cites availability pressure from geopolitical factors and longer shipping routes around the Cape of Good Hope.
Government subsidy support keeps domestic DAP procurement stable, but longer shipping routes and global supply strain still limit import availability and support phosphate prices.
pib.gov.inOct 23, 2024After 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.
Indian government statement on DAP availability pressure from geopolitics and longer shipping routes, plus subsidy increases, points to strong Indian import demand and tight supply, which supports DAP prices.
The government acknowledged availability pressure from geopolitical factors and longer shipping routes and raised subsidies, which supports import demand and a firmer DAP price, though it also denied a shortage.
