DAP/MAP suppliers bullish despite demand slowdown

摘要

DAP/MAP suppliers are bullish this week, believing that tight availability and high affordability will more than offset slowing demand through Q4, supporting attempts to make further price gains before the end of the year. In major news this week, India’s Finance Minister Nirmala Sitharaman announced on November 12 a new $8.7 billion fertilizer subsidy. The finer details, timeline and implementation plan for the announced new subsidy has yet to be clarified, though it could be used to clear vast arrears owed to Indian market participants, which reached record levels above $6.6 billion in August.