Care Ratings: Indian Fertilizer Industry Update - December 2020
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Overall fertilizers production has increased by 4.1% during seven months FY21 after registering a growth of 2.6% during seven months-FY20. On a monthly basis, production increased by 6.3% during October 2020.
The country witnessed an on-time arrival of Southwest monsoon, followed by a quick spread across the region which has resulted in higher sowing thus augmenting the sales of fertilizers which has led to an increase in production.
Increase in production can also be ascribed to restocking activities undertaken by the manufacturers in order to keep up with the sharp increase fertilizer sales witnessed during the year.
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