India's 2023 urea imports fall 21% on year amid jump in domestic production: S&P Global Commodity Insights

economictimes.indiatimes.com:

urea imports in 2023 declined 21.3% year-on-year to 7.41 million tonnes on account of higher domestic production, according to S&P Global Commodity Insights.

The country’s domestic urea production increased 13.4% on the year to 31.11 million tonnes in 2023 from 27.43 million tonnes in 2022.

Currently, India operates four fertilizer plants and the government aims to establish a fifth one named Talcher Fertilisers Ltd, which is expected to become operational in September 2024, having a production capacity of 3.85 million tonnes per year of urea, further contributing to the country’s self-sufficiency in fertilizer production, the report said.

“India's urea availability and sales for 2023 show a consistent growth pattern, with availability rising by 3.65% from 39.71 to 41.16 million mt in 2023 and sales increasing by 3.25% from 36.91 to 38.11 million mt last year,” the report said, adding that the steady rise in sales emphasizes the importance of domestic production.