The US DAP (Diammonium Phosphate) Spot Price in the Gulf for December 2023 has reached US $563.75 per ton. This represents a 5.25% increase compared to the November 2023 price of US $535.63 per ton. However, when juxtaposed with the same month last year (December 2022), the current price is 9.8% lower, as it stood at US $625 per ton at that time. These fluctuations in DAP prices highlight the dynamic nature of the fertilizer market, influenced by factors such as supply and demand dynamics, production costs, and market conditions.
The Indian government gives subsidy to support farmers in acquiring fertilizers at affordable prices. Changes in international prices may prompt adjustments in government policies to ensure continued support for the agricultural sector and increase subsidy burden.
