Now Reading: India turns to new urea suppliers as West Asia war bites
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India turns to new urea suppliers as West Asia war bites
India sourced 52% of its urea imports from Egypt, Algeria, Nigeria, and Georgia in the first quarter of this fiscal year, commerce ministry data show. Imports from these four countries were zero…
The Story in Brief
India sourced 52% of its urea imports from Egypt, Algeria, Nigeria, and Georgia in the first quarter of this fiscal year, commerce ministry data show. Imports from these four countries were zero in the same period last year. The shift comes as the prolonged West Asia war has disrupted trade routes from traditional suppliers.
Separately, India has received urea import offers about 12% below its June purchase price, signalling easing supply tightness, The Hindu Business Line reports. The government has also trimmed its fertiliser demand estimate for the kharif season after the weather office lowered its monsoon forecast to 90% of the long-period average.
The Indian Opinion
The usual panic about food security will now collide with subsidy math. The government has doubled its subsidy estimate to Rs 3.54 lakh crore, but global prices are already falling. If the monsoon stays weak, lower demand could soften the fiscal blow. The real test is whether procurement prices for rabi crops keep pace with input costs, not just urea availability.
Sources (2): livemint.com, thehindubusinessline.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
