India: FAI show low imports and production for 2014/15 but sales and stock data do not reveal true picture.

摘要

Imports and production in 2014/15 were both below the average for the previous five years, 2 million mt below in the case of imports. March sales figures show movement into the retail system rather than end user demand. The latest FAI data show total DAP production in India for the 2014/15 fertilizer year at 3.44 million mt, a six year low and well below the average of 3.8 million mt produced in the previous five years. The highest level of DAP production in the past five years was in 2009/10 when 4.25 million mt DAP were produced. This year production of DAP was particularly low in the run up to the Rabi season, with the industry regularly producing below 300,000 mt per month, mainly due to the the high cost of inputs.