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ICRA Research Report
China is a dominant player in the fertiliser industry with a share of 31% and 42% in global urea and Di-Ammonium Phosphate capacity respectively along with 11% and 32% of share in global urea and DAP trade.
China remains a major source of imported fertilisers for India with a share of 29% and 27% in import of urea and DAP respectively in FY21.
China’s suspension of exports is aimed at controlling the rising domestic fertiliser prices and protect its farmers against rising crop input inflation.
With already constrained supplies and strong demand from the U.S., Brazil, China and India, international prices have run up significantly. China’s suspension will put further upward pressure on prices.
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