Russia becomes India's largest supplier of fertilizers

Russia becomes India's largest supplier of fertilizers

Daily Current Affairs / Russia becomes India's largest supplier of fertilizers

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Category : International Published on: November 24 2022

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Russia has emerged as the biggest supplier of fertilizers to India in the first half of the 2022-23 financial year replacing China.
India's fertilizer imports from Russia increased by 371% to a record 2.15 million tonnes in the first six months of the year (April-September 2022).
The increase in Russian supply have led to the decline in India’s import from traditional sources like China Jordan, Egypt and the United Arab Emirates.
In the 2021/22 financial year Russia's share in Indian imports was around 6%, while China was around 24%.
India, which is a major importer of Urea, aims to become self-sufficient by 2024 and is trying to improve its domestic production.
Russia and Belarus are a major exporter of fertilizers in the world. They both accounted for more than 40% of global exports of potash last year.

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