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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.
eng.ruralvoice.inAvishek Raja2023年5月22日在过去 29 次中性的政策事件之后，DAP 在 5 个交易日内中位数变动 +0.2%（55% 上涨；中间一半区间为 -0.4% 至 +1.3%），20 个交易日内为 +1.9%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件；仅描述已发生的情况，不代表未来走势。不构成投资建议。
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.
