Indian government says urea and DAP prices will stay steady
India
India is gearing up to import 64 lakh tons of urea and 19 lakh tons of other fertilizers for the upcoming kharif season, thanks to a global price surge caused by the West Asia crisis.
The good news? The government says prices for urea and DAP will stay steady, so farmers won't feel the pinch.
No fertilizer shortage expected this season
Urea production took a hit earlier this year when gas deliveries got disrupted, bringing plant utilization down to 60% to 65%.
To fix this, India paid more to import extra gas, bumping production back up and securing enough fertilizer through global tenders.
With solid opening stocks and more imports on the way, there's no shortage expected for this season.