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Date: 25/11/2022

Fertiliser import from Russia surges 371 pc

India’s fertiliser imports from Russia surged 371 per cent to a record 2.15 million tonnes in the first six months of the year starting April 1, 2022. Russia, for the first time, became the biggest fertiliser supplier to India in the first half of the 2022-23 fiscal year by offering discounts over prevailing global prices, cornering more than a fifth of the market share. In value terms, India’s imports during the period spiked 765% to $1.6 billion. In the last entire fiscal year, it had imported 1.26 million tonnes from Russia. India was struggling to secure fertilisers at reasonable prices after the conflict escalated between Russia and Ukraine, as per a report.

Source: Exim News Service: New Delhi, Nov. 24