India’s fertilizer and agriculture sector is thriving, with notable achievements up to October 2023-24. There has been a substantial increase in the production, import, and sales of key fertilizers such as Urea, DAP, and NPKs. To put it simply, Urea, DAP, and NPK production grew by 11%, 14%, and 5%, respectively, compared to the same period last year. The total fertilizer production reached an impressive 26.5 million tons by October 2023, with Urea leading the way at 18.1 million tons, followed by NPKs at 5.6 million tons, and DAP contributing 2.7 million tons to this remarkable accomplishment.
From April to October 2023, the sales of Urea, DAP, and NPKs in India showed impressive increases, with growth rates of 14%, 26%, and 27%, respectively, compared to the same period last year. Additionally, MOP sales also went up by 3% in the current year until October compared to the previous year.
From April to October 2023, India saw a notable drop of 18% in the imports of DAP and NPKs compared to the same period last year. On the flip side, Urea and MOP experienced impressive growth rates of 10% and 53%, respectively. The decline in DAP and NPKs aligns with the Indian government’s goal of reducing imports and promoting local alternatives like PROM and PDM under the Atma Nirbhar Bharat initiative.
In the given timeframe, India’s fertilizer industry demonstrated robust growth in both production and sales, highlighting its flourishing state. These positive trends not only signify the country’s commitment to enhancing agricultural productivity but also showcase its dedication to meeting the rising demand for fertilizers in the agricultural sector.
