The prospect of a new government with a strong economic agenda has recently helped the INR recoup some of its losses, which could result in improved affordability of DAP imports and a rebounding of Indian DAP purchases.

Last week's Indian election resulted in an exceptionally strong win for Narendra Modi and his BJP party. Modi's campaign had been largely focused on India's economic agenda, singling out slowing growth and high inflation as major factors warranting major economic reform. Financial markets certainly seem pleased with this outcome as the Indian stock market is up the most in five years and lifting the rupee to an 11-month high as investors bet a stable government will deliver on the promise of economic reform.A strengthenin...