Hormuz may reopen, but fertiliser relief is still months away for India

Fertiliser supplies and prices will take months to return to normal. Natural gas and petroleum derivative supplies need to resume. Ammonia prices may stabilize soon. Sulphur prices could remain high longer. Disruptions to shipping lanes have impacted imports. Restarting plants and clearing stranded cargo will take time. India has enough urea for the kharif season but faces DAP pressure.

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