Indian NP/NPK stocks drop to below 3mn t

Spanish Market: Fertilizers
21/11/24

India's domestic sales of NP/NPK fertilizers have continued to outpace both production and imports, leaving stocks below 3mn t for the first time since February 2023.

Domestic sales of NP/NPK under the country's direct benefit transfer system amounted to 1.47mn t in October, up by 45pc on a year earlier.

Sales from April-October — the first seven months of India's 2024-25 agricultural year — totalled 8.72mn t, up by 23pc on the year.

Domestic NP/NPK production rose by 15pc on the year to 867,900t last month, putting April-October output at about 6.25mn t, up by 11pc on the year.

NP/NPK imports in October amounted to 183,000t, up by 51pc on October last year. April-October imports amounted to 1.28mn t, down by 10pc year on year.

The data imply total NP/NPK stocks in India of about 2.93mn t at the end of October, down by 12pc on the month and down by 15pc on the year.

By Nykole King

Indian NP-NPK stockbuild mn t

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