खरीदने निकल पड़ा भारत! India’s Huge Import Reliance On Fertilizers Causing Panic | New Import Market
LINK – https://www.cnbctv18.com/agriculture/certain-urea-units-given-approval-to-produce-beyond-installed-capacity-govt-12910282.htm
Certain urea units given approval to produce beyond installed capacity: Govt
All urea manufacturing units have been directed to maximise production, the department of fertilisers told Parliament on Tuesday in response to a question on shortage of urea due to the Russia-Ukraine war.
The department also said that “certain units have been given permission to produce beyond installed capacity”. It also said State Trading Enterprises have been authorised to import urea on government account.
The geopolitical tension between Russia and Ukraine has led to global supply disruptions resulting in a steep increase in global commodity prices including prices of crude oil, gas, edible oils and fertilisers, among others.
The department of fertilisers said it was monitoring the impact of the Russia- Ukraine war and taking steps to ensure the import of P&K fertilisers from alternate sources.
Sometime back reports said India was boosting fertiliser imports from nations including Canada and Israel to ensure sufficient supplies for the coming summer sowing season. Farmers usually start planting crops including rice, cotton and soybean with the arrival of monsoon rains in June.
To help make up for any lost supplies of nitrogen, phosphate and potash, Indian companies are also increasing supplies from Saudi Arabia and Morocco, a Reuters report had said.
India is a leading importer of fertilisers for its huge agriculture sector, which employs about 60 percent of the country’s workforce and accounts for 15 percent of the $2.7 trillion economy.
India depends on imports for its entire annual consumption of 4 million to 5 million tonnes of potash and ships in a third of this from Belarus and Russia. Landlocked Belarus uses ports in Russia and Lithuania for its exports.
Also Read: India boosts fertiliser imports from Canada, Israel as Russian supply disrupted
Estimates suggest Russia and Ukraine meet nearly 10-12 percent of India’s fertiliser needs — and supply not just ready-to-use fertiliser, but raw materials like potash and ammonia as well.
In a reply to a question on the impact of the Russia-Ukraine war on the Indian economy, the finance ministry said that the government was closely monitoring the global price movements and their impact on India’s economy through trade.
It said the government was also committed to supporting initiatives for releases from Strategic Petroleum Reserves, for mitigating market volatility and calming the rise in crude oil prices.