India's June NP/NPK output and sales up, imports down

India's output of NP/NPK fertilizers rose on the year in June, while domestic sales climbed sharply, but imports fell.

June NP/NPK production rose by 4.9pc on the year to 917,400t, as imports decreased by 5.4pc to 264,000t, provisional government data show.

Sales under India's direct benefit transfer (DBT) system reached 1.343mn t last month, up by 51pc year on year.

The data for trade and production imply total NP/NPK stocks in India of just over 5.168mn t at the end of June, down by 3.1pc on the month and 1.6pc on the year.

Domestic NP/NPK production in April-June — the first three months of India's 2024-25 financial year — reached almost 2.512mn t, up by 2.9pc on the corresponding period of 2023-24.

April-June DBT sales were up by 42.1pc on the year at 2.185mn t, while imports decreased by 20.1pc to 709,000t, the data show.

India's import market for complex fertilizers has been in a quiet phase as participants focus on a pricing-based impasse around DAP.

A resolution of the DAP situation should in turn lead to a rise in import activity around NPS and NPK grades, including key formulae 20-20-0+13S and 10-26-26.

Prices for these products are set to climb in next business, in line with a general firming of the global market for complex fertilizers.

By David Maher

Indian NP/NPK stocks, output, imports, and DBT sales