India's urea imports in fiscal 2013-2014 likely to fall by up to 40% year-over-year to about 4.5-5 million tonnes, driven by weaker demand, presence of 1.5 million tonnes of carryover stock
, December 10, 2013 (Chemical Weekly (CBNB Abstracts)) – India's imports of urea would decrease by up to 40% from around 8 mtonnes in FY 2012-2013 to 4.5-5 mtonnes in FY 2013-2014. This would be due to the weaker demand for the chemical and the presence of 1.5 mtonnes carryover stock. The Indian government assigned three private companies, which are MMTC, India Potash Ltd (IPL) and State Trading Corp (STC), to import urea. The country generates around 22 mtonnes/y of urea against the more than 30 mtonnes demand. Farmers can purchase the chemical at a fixed subsidized maximum retail price (MRP) of Rup 5360/tonne. Original Source: Chemical Weekly, http://www.chemicalweekly.com/, Copyright Sevak Publications & Chemical Weekly Database P Ltd 2013.