Urea imports up 6% in April-February to 83.09 LT – Feedback

Urea imports increased by 6 percent to 83.09 lakh tonnes in April-February this fiscal due to lower prices of the fertiliser in international markets. The country had imported 78.43 lakh tonnes (LT) of urea in the same period a year ago, according to official data.

The rise in imports was due to lower prices of the fertiliser in international market, a source said. The government imports urea through three agencies — State Trading Corporation, MMTC and Indian Potash Ltd. Besides, India has an offtake agreement with Oman-based fertiliser firm OMIFCO, a joint venture between domestic cooperatives such as IFFCO, Kribhco and Oman Oil company SAOC. According to sources, urea has been imported at around USD 279 per tonne so far compared to last year’s average imported price of USD 303 per tonne.

http://www.moneycontrol.com/news/economy/urea-imports6april-februaryto-8309-lt_5973181.html

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