India’s fertiliser and agri-front is flourishing like a well-tended field. India achieved a remarkable milestone in the 1st half of FY’2023-24, as it recorded a significant increase in the production, import, and sales of major fertilizers like Urea, DAP, and NPKs. The production of Urea, DAP, and NPKs witnessed remarkable growth rates of 10%, 17%, and 7% respectively, compared to the same period in the previous year. This impressive surge in production resulted in a total fertilizer production of 22.5 million tons by Sept 2023. Notably, Urea played a vital role in this accomplishment, with 15.3 million tons produced, followed by NPKs at 4.9 million tons, and DAP contributing 2.3 million tons.
During April to Sept 2023, the sales of Urea, DAP, and NPKs in India saw an impressive rise, with growth rates of 14%, 32%, and 30% respectively, compared to the same period in the previous year. However, MOP up by 5% in the current year until Sept, as compared to the previous year.
The fertilizer market in India experienced a significant decrease in urea and NPKs imports during April to Sept 2023, with a remarkable dip by 24% and 17% compared to the same period in the previous year. However, MOP, showing impressive growth rates of 55%, whereas DAP was up by hardly 2%. This decrease aligns with the Government of India’s objective of achieving zero imports under the Atma Nirbhar Bharat initiative.
During the specified period, the fertilizer industry in India showed strong growth in production and sales, indicating its thriving state. These positive trends underscore the country’s focus on improving agricultural productivity and its dedication to fulfilling the increasing demand for fertilizers in the agricultural sector.
