Russia for the first time became the biggest fertiliser supplier to India in the first half of the fiscal year 2022-23 by offering discounts over prevailing global prices, cornering more than a fifth of the market share, government and industry sources said.
He declined to be named due to the sensitivity of the matter.
In value terms, India's imports during the period spiked 765 per cent to $1.6 billion, he said. In the last entire fiscal year India imported 1.26 million tonnes from Russia.
"India was struggling to secure fertilisers at reasonable prices after conflict escalated between Russia and Ukraine.
Russian supplies were timely and at reasonable prices. It helped us to avoid possible scarcity," the official said.
This story is from the November 22, 2022 edition of Business Standard.
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This story is from the November 22, 2022 edition of Business Standard.
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