Russia for the first time became the largest supplier of fertilizers to India

Over the past 6 months, in monetary terms, India’s imports of Russian fertilizers increased by 765% to $1.6 billion.

Russia for the first time became the largest supplier of fertilizers to India
Source: most.report

Russia became the largest fertilizer supplier to India for the first time in the first half of the 2022/23 fiscal year, offering discounts compared to prevailing global prices, capturing over a fifth of the market share. It is reported by Reuters, citing government and industry sources.

It is specified that imports of fertilizers to India from Russia increased by 371% to a record 2.15 million tons in the first six months of the year, which began on April 1. In value terms, India’s imports over this period rose by 765% to $1.6 billion. In the last fiscal year, India imported 1.26 million tons from Russia.

“India has struggled to provide fertilizer at reasonable prices following the escalation of the conflict between Russia and Ukraine. Russian deliveries were timely and reasonably priced. This helped us avoid possible shortages,” the source told Reuters.

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