Imports of fertilisers from Russia surged greater than eight instances to $ 1.6 billion through the first half of the present fiscal 12 months from about $185 million within the year-ago interval as world costs elevated, in accordance with trade sources.
Nonetheless, with the softening of costs in latest days, the subsequent half of the 12 months might witness some declines even when quantity stays the identical, specialists stated.
Fertiliser imports from Russia throughout April–September 2022–23 had been 2.15 million tonnes (mt), in contrast with 0.46 mt a 12 months in the past, trade sources stated. The full import of fertilisers from all nations elevated by 11.6 per cent to eight.73 mt from 7.82 mt on this interval. There was a 122 per cent improve in advanced fertiliser (NPKS) at 1.53 mt, whereas that of diammonium phosphate (DAP) surged 43 per cent to three.33 mt. Nonetheless, urea imports dipped 25 per cent to 2.99 mt, official information present.
Whereas the typical import value of urea in October was $665 per tonne (f.o.b), the speed declined to $578 per tonne within the final tender, a senior official within the Fertiliser Ministry stated. The typical imported costs of DAP has additionally softened to $722 per tonne in October from $758 per tonne in September because the world market cooled after Indian corporations entered into direct contracts with world corporations in provider nations, he stated.
He additionally stated the federal government is hopeful of attaining self-sufficiency in urea because the put in capability has already elevated to twenty-eight.3 mt, whereas the annual demand is 35 mt. “With the manufacturing of 44 crore bottles of nano-urea by 2025, which is equal to twenty mt of regular urea, there can be surplus, which may very well be then thought-about for export,” he stated.
There have been reviews of fertiliser shortages from many locations, at the same time as the federal government maintained that the supply is greater than the requirement on the macro stage. In response to the fertiliser ministry, the professional rata requirement of urea as much as November 16 was 57.40 lakh tonnes (lt). As in opposition to this, the federal government ensured the supply of 92.54 lt. The gross sales of urea have been reported at 38.43 lt, it stated. Within the case of DAP, the Ministry stated the professional rata requirement as much as November 16 was 26.98 lt in opposition to which 36.90 lt had been made accessible.
Nonetheless, official information for October confirmed that in opposition to the month-to-month demand of 35.65 lt of urea, the supply was 30.77 lt, and that of DAP, it was 18.39 lt in opposition to provides of 15.06 lt.