Indorama, an Indian fertilizer importer, has raised its retail price in the domestic market from Rs28 000/t to Rs29 000/t.
Argus states "the move is seen as a counter to the weakening domestic currency against the US dollar, and to bolster profit margins before demand for DAP dries up around October-November for the current season."
It is unlikely that importers will boost purchases considerably in the next few weeks.
Indian importers IPL and Iffco have also recently raised the MRP to Rs28 000/t.
This is the sixth hike in the MRP this year, originally starting on Rs21 720/t.
Read the article online at: https://www.worldfertilizer.com/special-reports/03102018/indorama-raises-mrp-of-dap-fertilizers/