India - Urea - Market Analysis, Forecast, Size, Trends And Insights
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View PricingUrea Price in India Drops to $565 per Ton, Fluctuating Wildly over 2022
India Urea Import Price in September 2022
In September 2022, the urea price stood at $565 per ton (CIF, India), declining by -4.3% against the previous month. In general, the import price recorded a abrupt decline. The most prominent rate of growth was recorded in May 2022 an increase of 15% month-to-month. Over the period under review, average import prices attained the peak figure at $1,089 per ton in January 2022; however, from February 2022 to September 2022, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In September 2022, the highest price was recorded for prices from Saudi Arabia ($710 per ton) and Oman ($652 per ton), while the price for Finland ($521 per ton) and China ($527 per ton) were amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by Oman (-4.3%), while the prices for the other major suppliers experienced a decline.
India Urea Imports
In September 2022, imports of urea into India soared to 567K tons, growing by 15% against the previous month. In general, imports, however, recorded a deep reduction. The pace of growth was the most pronounced in June 2022 when imports increased by 171% m-o-m. Imports peaked at 1.1M tons in March 2022; however, from April 2022 to September 2022, imports stood at a somewhat lower figure.
In value terms, urea imports reached $320M (IndexBox estimates) in September 2022. Overall, imports, however, showed a deep downturn. The pace of growth was the most pronounced in June 2022 with an increase of 186% m-o-m. Over the period under review, imports hit record highs at 1.1M tons in January 2022; however, from February 2022 to September 2022, imports remained at a lower figure.
India Urea Imports by Country
China (156K tons), Oman (135K tons) and Russia (133K tons) were the main suppliers of urea imports to India, together comprising 75% of total imports.
From January 2022 to September 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +18.7%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest urea suppliers to India were Oman ($88M), China ($82M) and Russia ($70M), with a combined 75% share of total imports.
In terms of the main suppliers, China, with a CAGR of +12.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Factors Affecting Urea Prices
The urea price in India is determined by a number of factors, including the international urea prices, the cost of production, and the Indian government's fertiliser subsidy policy.
The international urea prices are influenced by the demand and supply of urea in the global market. The major urea producing countries are China, Russia, and the United States. The demand for urea is influenced by the crop planting season in different parts of the world. For example, the peak demand for urea in India is during the kharif season (July-November), when farmers need it for their paddy crop.
The important factor influencing urea price in India is the cost of production, which includes raw materials, energy, labour, and transportation. As a result of the increase in the price of natural gas, one of the main feedstocks used to produce urea, the cost of raw materials has increased in recent years. The other costs such as energy, labour, and transport have also been rising due to inflationary pressures.
The Indian government's fertiliser subsidy policy is another important factor influencing the urea price in India. The government provides a subsidy on fertilisers to farmers to encourage them to use more fertilisers and improve agricultural productivity. However, due to budgetary constraints, the government has been gradually reducing its fertiliser subsidy in recent years. This has led to an increase in the retail price of urea
This report provides an in-depth analysis of the urea market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 4001 -
Country coverage:
- India
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in India
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
