OREANDA-NEWS  At the beginning of 2024, Russian companies occupied more than a third of the Indian fertilizer market — their share in the total volume of supplies to the country increased in January and February compared to the same period in 2023 from 23 to 34 percent. Vedomosti writes about this.

With such a sharp growth rate, exports from Russia to India are declining both in physical terms (by 15 percent year-on-year) and in monetary terms (by half, to $ 231 million). During this period, the Asian country reduced the import of Russian fertilizers by 43 percent, to 1.8 million tons.

The noted decrease in fertilizer imports is explained by a reduction in subsidies "against the background of comfortable rolling stocks," follows from a comment by a representative of the Russian Association of Fertilizer Producers (RAPU), which the publication cites. In particular, a reduction in demand for nitrogen fertilizers (urea) is allowed in connection with the launch by India in recent years of large projects for the production of this type of fertilizers.

In general, India's share in the structure of Russian fertilizer exports increased from three percent in 2021 to 14 percent in 2023, following which supplies increased almost one and a half times and reached the level of 5.4 million tons. The country is the second buyer of fertilizers from Russia after Brazil. Brazil is the leader in the corresponding list, the top 4 in terms of purchases also includes the United States and China.