{"id":125789,"date":"2022-11-23T13:23:40","date_gmt":"2022-11-23T07:53:40","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=125789"},"modified":"2022-11-23T13:23:42","modified_gmt":"2022-11-23T07:53:42","slug":"russia-replaces-china-to-become-the-biggest-supplier-of-fertilizers-to-india","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/russia-replaces-china-to-become-the-biggest-supplier-of-fertilizers-to-india\/","title":{"rendered":"Russia Replaces China to Become the Biggest Supplier of Fertilizers to India"},"content":{"rendered":"\n

Russia Replaces China to Become the Biggest Supplier of Fertilizers to India:<\/strong> Russia has become India\u2019s biggest fertilizer supplier\u00a0for the first time.\u00a0Russian exporters\u00a0reportedly grabbed a\u00a021% share of the Indian fertilizer market\u00a0in the first half of the 2022-23 fiscal year,\u00a0overtaking China, previously India\u2019s largest supplier.<\/p>\n\n\n\n

November 2022 Current Affairs Quiz<\/a><\/strong><\/p>\n\n\n\n

More About This Transition:<\/strong><\/p>\n\n\n\n

India’s fertilizer imports from Russia surged 371% to a record 2.15 million tonnes in the first six months of the year started on April 1, a senior government official who was closely monitoring the imports, told Reuters.<\/p>\n\n\n\n

He declined to be named due to the sensitivity of the matter. In value terms, India’s imports during the period spiked 765% to $1.6 billion, he said. In the last entire fiscal year India imported 1.26 million tonnes from Russia. Russia\u2019s share of Indian fertilizer imports was hovering around 6% during the last fiscal year, while China\u2019s stood at 24%. In the first half of 2022-23, China\u2019s exports to India halved to 1.78 million tons amid growing Russian supplies.<\/p>\n\n\n\n

About The Global Prices:<\/strong><\/p>\n\n\n\n

Global prices for fertilizers jumped in March after the US, the EU and allied states introduced sanctions against fertilizer supplies from Russia and Belarus. While Western countries have since backtracked on the ban, Russia has found new markets, mostly in Asia, for its exports.<\/p>\n\n\n\n

About Fertilizer production:<\/strong><\/p>\n\n\n\n

Combined, Russia and Belarus accounted for more than 40% of global exports of potash last year. Russia accounted for about 22% of global exports of ammonia, 14% of the world\u2019s urea exports and about 14% of monoammonium phosphate (MAP) \u2013 all key kinds of fertilizers.<\/p>\n\n\n\n

India\u2019s Import Of Fertilizers:<\/strong><\/p>\n\n\n\n

In June, India obtained di-ammonium phosphate (DAP) from Russia for a cost and freight basis (CFR) of $920-925 per tonne, while other Asian importers paid more than $1,000. The surge in Russian supplies halved China\u2019s exports to India to 1.78 million tonnes in the first half of 2022-23.<\/p>\n\n\n\n

Exports from other destinations such as Jordan, Egypt and the United Arab Emirates also fell. In the 2021\/22 financial year Russia\u2019s share in Indian imports was around 6%, while China cornered 24%. Russia\u2019s market share jumped to 21% in the first half of 2022\/23, surpassing China as the biggest supplier to India.<\/p>\n\n\n\n

Global prices could have rallied more had India also moved away from Russia to other suppliers such as China and Morocco, which have limited supplies for exports, he said. In the first half of 2022-23, India’s overall fertiliser imports fell 2.4% year on year to 10.27 million tonnes, despite a 59% increase in value to $7.4 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

Russia Replaces China to Become the Biggest Supplier of Fertilizers to India: Russia has become India\u2019s biggest fertilizer supplier\u00a0for the first time.\u00a0Russian exporters\u00a0reportedly grabbed a\u00a021% share of the Indian fertilizer market\u00a0in the first half of the 2022-23 fiscal year,\u00a0overtaking China, previously India\u2019s largest supplier. November 2022 Current Affairs Quiz More About This Transition: India’s fertilizer […]<\/p>\n","protected":false},"author":894,"featured_media":125790,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4982],"tags":[447,58,624],"offerexpiration":[],"class_list":["post-125789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-november-2022","tag-china","tag-international-current-affairs","tag-russia"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/125789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=125789"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/125789\/revisions"}],"predecessor-version":[{"id":125791,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/125789\/revisions\/125791"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/125790"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=125789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=125789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=125789"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=125789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}