Fertiliser sales have taken a hit as poor rainfall and drought-like conditions affect several regions in India. Despite kharif sowing being only 2% below last year's level, farmers have reduced spending on soil nutrients. Sales of NP/NPK complex fertilisers dropped by 19.4%, and muriate of potash (MOP) sales fell by 13.6%, according to provisional data from the Fertiliser Association of India.
This decline in fertiliser sales is significant for those in the agro products sector, as it reflects reduced demand for essential nutrients. Importers and exporters dealing with fertilisers should monitor these trends closely. For further details, refer to the original publication on the Economic Times website.
Read the original article
