India: High stocks hamper market activity

摘要

DAP stock reduction was slow in December and buyers continue to remain out of the import market except for under MOUs. DAP stocks are estimated to be around 2-2.1 million mt in the first week of January, a slight decline from 2.2-2.3 million mt seen in December due to Rabi season demand. Importers are not expecting any major business before March when new NBS rates are announced and stocks have been further cleared.