
India’s Cabinet approved fertilizer subsidy rates for the rabi season, with the P&K subsidy outlay estimated at Rs 62,370 crore, up 64% from the previous year. The government will keep the retail price of a DAP bag at Rs 1,350 despite rising global fertilizer prices, while fertilizer stocks were up 35.6% year on year to 235.21 lakh tonnes as of November 10.
The larger subsidy cushions farmers from higher global fertilizer costs and may sustain seasonal fertilizer demand, while the higher reported stocks provide a near-term supply buffer. The fixed DAP retail price limits the pass-through of global price increases to Indian farmers.
Not enough comparable past events yet for a historical read.
After 26 past neutral policy events, Urea moved a median -1.0% over 5 sessions (27% higher; middle half -4.1% to +0.6%), and -2.5% over 20.
Not enough comparable past events yet for a historical read.
After 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.