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Prabhudas Lilladher Report
Fertiliser sales grew by 1% in February driven by 33% growth in nitrogen-phosphorous-potassium sales.
Urea/ diammonium phosphate placements were down 8%/12% YoY.
Sale of domestically manufactured fertilisers was up 2% YoY while that of imported fertiliser is down by 11% YoY driven by Urea (down 36%).
Government of India paid Rs 25631 crore of fertiliser subsidy in January, up eight times YoY. Urea subsidy paid stood approximately Rs 17123 crore and phosphatic and potassic Rs 8500 crore.
Raw material prices are on upward trajectory with phosphoric acid/sulphur prices being up by 17%/100% YoY in January.
Ammonia and rock phosphate prices are up 14%/2% YoY.
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