India imports 23.4 lakh tons of fertiliser in October

Nagarjuna Fertilizers and Chemicals: Nagarjuna Fertilizers and Chemicals Q2 loss widens to Rs 183 crore on higher input cost, power & fuel expenses. Revenue up 198% YoY. The company posted consolidated loss of Rs 182.7 crore for quarter ended September FY23, widening from Rs 142.36 crore in same period last year, impacted by higher input cost, power & fuel expenses and finance cost. Revenue from operations for the quarter at Rs 2,070 crore increased by 198% compared to year-ago period.

The country imported 23.4 lakh tonne of fertilisers, including urea and Di-ammonium Phosphate (DAP), in October this year, according to official data.

Out of the total fertiliser imports, DAP was maximum at 14.70 lakh tonne, followed by urea at 4.60 lakh tonne, Muriate of Potash (MoP) at 2.36 lakh tonne and complexes at 1.70 lakh tonne in the said month, the data showed.

Meanwhile, the domestic production of fertilisers was 36.19 lakh tonne in October, lower than the target of 41.54 lakh tonne set for the month.

Against the assessed requirement of 71.47 lakh tonne fertilisers for October, the availability was less at 64.28 lakh tonne, and sales stood at 53.34 lakh tonne during the period, as per the data.

Barring urea and ammonia, prices of DAP and fertilisers had shown an increase in the global market in October when compared to the year-ago period.

Urea is highly subsidised at Rs 5,360 per tonne in the country. The government also offers subsidies on other fertilisers to ensure the soil nutrients are available at affordable prices to the farming community.