India: Import DAP business dries up

摘要

New DAP import activity and enquiries have largely ground to a halt in India as importers struggle to sell on high DAP stocks and weaker monsoon data impacts demand expectations. Indian buyers, seeking to cover their Rabi requirement, are likely to return to the import DAP market in September, but competition for sales and continued high stocks (expected as high as 5 million mt for DAP/NPK by the end of August) may lead to another slight decline in the import price to keep up activity.