India fertilizer stocks surge 38% to 17 million metric tons ahead of key rabi season

India fertilizer stocks stood at 17.01 million metric tons at the start of the 2026-27 rabi season, up 38% from a year earlier, The Tribune reported on Oct. 3, 2026, citing government data. Opening inventories for the winter-sown season are the highest in two years, according to Global Agriculture.

Urea accounts for most of the build. Urea stocks rose 54.26% to 8.33 million metric tons. Diammonium phosphate (DAP) stocks increased by about 9% to 3.03 million metric tons, and combined NPK and NPKS complex fertilizer stocks rose 36% to 5.65 million metric tons. The government attributed part of a decline in sales to tighter monitoring under its digital fertilizer sales framework, The Tribune reported. It also reported a surplus of certified seed for rabi crops.

The larger urea cushion arrives days before state importer Indian Potash Limited closes a 1.7 million metric ton urea tender on Oct. 7, and it could reduce the pressure on India to accept high offers. The smaller gain in DAP leaves less room in phosphates, where India depends heavily on imports for the wheat, mustard and gram crops sown from October.

Rebuilding India fertilizer stocks has a fiscal cost. A fertilizer ministry official said on Oct. 1 that the subsidy bill could exceed 3 trillion rupees (USD 31.2 billion) this fiscal year if supply disruption continues, against a budget of 1.71 trillion rupees (USD 17.8 billion), Global Agriculture reported. The tender result and October sales data will show how far the stock build carries into the season.

Sources: The Tribune, Global Agriculture