(MENAFN) According to a story published on Thursday by The Indian Express, quoting industry sources, due to reductions it is providing during Western penalties connected to the Ukraine, Russia has overtaken China as India's largest supplier of phosphate fertilizers.
The study states that India imported 350,000 tons of diammonium phosphate, or DAP, over the prior three months. DAP is a fertilizer that supplies agricultural crops with phosphorus nourishment throughout their whole growth phase. The article added, “imports came at just the right time as planting began for the rain season, which will peak in July.”
Russian fertilizer manufacturer PhosAgro has generously discounted its supplies for Indian corporations whereas also paying bank transaction fees. As a consequence, Russian fertilizer cost India USD920–925 a ton, which is less than what other foreign suppliers like China, Saudi Arabia, Morocco, and Jordan were charging.
The price that Russia is offering also matches the cost ceiling that India has imposed on fertilizer imports, according to the Express story. It also mentions that if other fertilizer vendors wish to keep their market share in India, the scenario could compel them to cut their pricing.
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