Fertiliser imports spike 16.6%, sales grow 22%; urea top constituent
Fertiliser imports spike 16.6%, sales grow 22%; urea top constituent
BusinessToday.In
- Jul 3, 2020,
- Updated Jul 4, 2020 10:34 AM IST
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The fertiliser industry is highly regulated and monitored by the government. Imports have increased sharply by 16.6% supported by the increase in urea imports which constitutes around 40% of the overall fertiliser imports. Sales too have increased by 22% buoyed by a good monsoon and harvest season. Overall fertilisers production has increased by 2.7% during FY20 after registering muted growth in the last three fiscal years.
Story: Shivani SharmaDesign: Mohsin Shaikh
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Overall fertilisers production has increased by 2.7% during FY20 after registering muted growth in the last three fiscal years. Improvement in demand due to a good southwest monsoon which resulted in higher sowing aided the increase in production.
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Imports have increased sharply by 16.6% supported by the increase in urea imports which constitutes around 40% of the overall fertiliser imports.
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Sales too have increased by 22% buoyed by a good monsoon and harvest season. Overall sales of fertilisers have increased sharply by 45.1% during the first two months of FY21.
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Urea production increased as manufacturers were quick enough to resume operations once the government announced relaxations came into effect on 15 April 2020.
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Urea imports have risen by 22.5% to counter the shortfall in domestic production. India mainly imports Urea from Oman, Iran and China. Offtake during the year has been positive and has increased by 16.7%.