•Import Reliance: India relies on imports to meet its fertilizer needs:
1.Urea: Approx 20% of domestic requirements met through imports.
2.DAP: 50-60% of domestic requirements are imported.
3.Muriate of Potassium (MOP): 100% is imported.
•Budget Allocations: ₹1.79 lakh crore as fertilizer subsidy for 2023-24.
•Ongoing Conflicts: The crises in Ukraine and Gaza are expected to impact fertilizer markets by increasing oil prices and production cost of fertilizers.
•Import Sources: Major suppliers include China, Russia, Saudi Arabia, UAE, Oman, Iran, and Egypt, raising concerns due to geopolitical tensions.
•Recommendations for India:
1.Increase Production Capacity: Experts suggest enhancing domestic fertilizer production and reducing reliance on imports.
2.Innovative Practices: Adoption of techniques such as nano urea and natural farming to optimize fertilizer use.