Pratik Parija

India, the world’s top buyer of diammonium phosphate, has contracted the crop nutrient at prices almost 40% higher than pre-war levels as the Middle East conflict disrupts supplies and pushes global benchmarks higher.

India expects its monsoon rains to arrive early this year, offering some relief for farmers who rely on the rains for timely sowing of crops like rice and soybeans.

India is considering a request by the domestic vegetable oil industry to raise import duties, potentially increasing taxes on another major commodity just after a hike in gold tariffs.

India is seeking offers from global suppliers to buy 1.7 million tons of urea, a widely used nitrogen fertilizer, ahead of the monsoon sowing season, as the Middle East conflict disrupted gas supplies for domestic output.

India lowered its forecast for this year’s monsoon, a blow to farmers who are already contending with higher input costs due to the Middle East conflict.

India’s annual monsoon rains that are crucial for farm output are likely to arrive around Thursday at Kerala state on the country’s southern tip, a few days after the official start date.

Raw sugar futures in New York advanced for the first time three days on expectations that Brazilian mills may allocate more cane to ethanol production, reducing sugar output during the current crushing season.

India, the world’s largest urea importer, drew prices that were less than half of an April tender, a sign that the global fertilizer supply strain from the war in Iran is starting to ease.

A weak monsoon is emerging as India’s next inflation risk, with a developing El Niño threatening to curb rainfall and push up food prices just as an easing oil relieves broader price pressures.

Ample rain forecast for early July could help India’s farmers make up for a weak start to the monsoon as the busiest sowing period for key crops approaches.