India Urea Market Outlook For Next 10 Years
India’s urea demand hit record highs in FY 2020-21, widening the supply gap. Despite capacity expansions, a 2.2% annual growth rate implies 15 new plants needed by 2030 to reduce import dependence.
Chemical fertilizers have played an important role in agricultural productivity growth in India, the world's largest urea importer, is in the midst of a record demand year 2020-21, only increasing its significance for global trade.
The demand-supply gap of Urea fertilizer in India has increased at its pinnacle, thereby leading to increased reliance on imports. Indian urea imports totaled 9.8 Mn tons in the financial year of 2020-21, according to the government data, which is 188% of 5.2 Mn tons imported in the financial year 2009-10.
India Urea Sales in the financial year 2020-21 Increased by 4.6% over the financial year 2019-20. Does India require one urea plant every year as indicated by Sales increment?
large-scale capacity additions are also expected to come on stream in the financial year 2021-22, in India, which will guarantee to decrease imports around 4 Mn Tons.
The main emphasis of the government of India is on domestic urea production. India is targeting 29 Mn tons production of nitrogenous fertilizer (Urea) during the financial year 2021-22. DOF has effectively affirmed the company-Wise Unit-Wise production target of Urea for the financial year 2021-22.
In view of the importance of fertilizers in agricultural growth and the possibility…
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