Indian DAP Stocks Set to Decline Further Despite Peak Seasonal Demand

Indian DAP stocks are estimated at 2.2–2.3mn t in mid-November, down slightly from the start of the month. Analysts expect inventories to fall further by early December as seasonal demand surges. DAP Offtake Hits Highest Level Since 2022 Provisional data shows DAP offtake may reach 1.8mn t in November, typically