India: DAP activity at standstill

摘要

The bid/offer spread for DAP in India widened again this week to as much as $55/mt with suppliers/traders offering around $425-430/mt CFR and most buyers still calling for product at around $375-380/mt CFR, the breakeven level for inland sales. Inventories are gradually being drawn down in the country but Rabi requirements are partly being met by high levels of domestic production in India with DAP stocks still reported at around 1.2-15 million mt.