Urea imports up 6% in April-February to 83.09 LT

The country had imported 78.43 lakh tonnes (LT) of urea in the same period a year ago, according to official data.
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Mar 22, 2016, 12.06 PM | Source: PTI

Urea imports up 6% in April-February to 83.09 LT

The country had imported 78.43 lakh tonnes (LT) of urea in the same period a year ago, according to official data.

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Urea imports up 6% in April-February to 83.09 LT

The country had imported 78.43 lakh tonnes (LT) of urea in the same period a year ago, according to official data.

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Urea imports up 6% in April-February	to 83.09 LT
Urea imports increased by 6 percent to 83.09 lakh tonnes in April-February this fiscal due to lower prices of the fertiliser in international markets.

The country had imported 78.43 lakh tonnes (LT) of urea in the same period a year ago, according to official data.

The rise in imports was due to lower prices of the fertiliser in international market, a source said.

The government imports urea through three agencies -- State Trading Corporation, MMTC and Indian Potash Ltd.

Besides, India has an offtake agreement with Oman-based fertiliser firm OMIFCO, a joint venture between domestic cooperatives such as IFFCO, Kribhco and Oman Oil company SAOC.

According to sources, urea has been imported at around USD 279 per tonne so far compared to last year's average imported price of USD 303 per tonne.

Urea is a controlled fertiliser and is sold at fixed selling price of Rs 5,360 per tonne. The difference between cost of production and selling price is paid as a subsidy to manufacturers.

The country's annual urea demand is 300 lakh tonnes, while the production is stagnant at 220 lakh tonnes.

The government has ensured that the urea which is being sold in the country whether indigenously produced or imported will be completely neem coated, a move aimed at checking the diversion of subsidised urea for industrial purposes.

The decision for mandatory neem coating of urea was taken on May 25 last year. In a record time of 166 days, 100 percent urea is being sold neem-coated, Fertiliser Minister Ananth Kumar had said.

The production is expected to rise to 240 LT in the current financial year after the new energy norms framed by the government for fertiliser plants, he said.

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Urea imports up 6% in April-February to 83.09 LT

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