
India's Department of Fertilizers notified new Nutrient Based Subsidy rates on May 18, 2023, after a cabinet decision on May 17. The subsidy on DAP for the Kharif season (April to September 2023) is Rs 15,792 per tonne lower than for the Rabi season, leaving DAP at Rs 32,641 per tonne.
A lower government subsidy reduces the state's fertilizer bill and signals that global phosphate prices have eased. Net DAP costs to Indian farmers and importers depend on how much of the subsidy cut is passed through, so the direct price effect on phosphate is uncertain.
Après 29 événements politique neutre passés, DAP a varié en médiane de +0,2 % sur 5 séances (55 % de hausses ; moitié centrale de -0,4 % à +1,3 %), et de +1,9 % sur 20.
Variations du benchmark de chaque matière depuis la dernière clôture avant l'événement. Les lectures historiques regroupent les événements passés de même nature ; elles décrivent ce qui s'est passé, pas ce qui arrivera. Ceci n'est pas un conseil en investissement.
India's cut in the Kharif DAP subsidy by Rs 15,792/t, announced May 17-18, lowers the support for the world's largest DAP importer and points to weaker import demand and lower price expectations, which fits the sharp drop in the week to May 26.
India's lower Kharif DAP subsidy and low global prices weaken the import demand and price support from the largest DAP buyer.
India's cut in the Kharif DAP subsidy by Rs 15,792/t, announced May 17-18, lowers the price support for the largest DAP importer and could weaken import demand and sentiment, though it came a few days before the drop.