According to the first quarter results, India reduced its nitrogen fertilizer purchases by 35% on an annual basis to 1.1 million tons. The newspaper writes about this “Vedomosti” According to data from the Price Index Center (PIC).
Fertilizer imports have fallen due to falling costs of LNG, which is used to produce 90% of India’s urea. In the January-March period, the purchase price of energy decreased by 26 percent and reached 393 dollars per 1000 cubic meters. The price of gas in the domestic market was at the level of 286 dollars per 1000 cubic meters as of the end of the first quarter. m (-8% on an annual basis).
As a result, the cost of fertilizer production in India fell by 6% to $246 per tonne. This is $84 per tonne lower than the import price.
India is the world’s largest market for nitrogen fertilizers. However, local governments are striving to reduce the country’s dependence on urea imports and increase their own production. In the future, this may affect domestic fertilizer producers, of which India is one of the main buyers.
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