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Indian government raises NBS for N, P, S

  • Mercados: Fertilizers
  • 08/04/26

The Indian government has raised the nutrient-based subsidy (NBS) for nitrogen, phosphate and sulphur each by 10pc for the April-September kharif season, while holding the rate for potash steady.

The NBS applies to phosphate and potash-based fertilizers including DAP, MOP and NPKs. It does not cover urea.

The latest subsidy rates per nutrient are as follows:

  • Rs47.32/kg for nitrogen
  • Rs52.76/kg for phosphate
  • Rs2.38/kg for potash
  • Rs3.16.kg for sulphur

The government has stated a tentative budgetary requirement for the season at 415bn rupees ($4.5bn), up by Rs43bn from the budgetary requirement for the 2025 kharif season.

This raises the NBS for DAP to around Rs32,787/t ($355/t), and keeps the NBS for MOP at Rs1,428/t.

Despite the rise in the subsidy, Indian DAP importers and producers would make a loss if receiving only the NBS and the maximum retail price of Rs27,000/t. Market participants expect the government to maintain the additional financial support for DAP importers and producers beyond the nutrient-based subsidy, but no official confirmation has yet emerged.


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