Fertilizer sector: Volume analysis – 18 Aug 2021

The retail & primary sales volume of fertilisers has optically moderated due to panic buying in H1 FY2021 owing to the pandemic-led lockdown. However, compared to similar period in FY2019 and FY2020, the retail sales have witnessed significant improvement.

The overall fertiliser production has remained largely stable with moderation in urea (4%) and DAP (12%) getting offset by growth in NPK (11%) in 4M FY2022. Imports have declined overall on account of global supply being constrained

Though fertiliser sales volumes have moderated sharply in 4M FY2022, it expects the sales volume not to decline significantly and to remain only marginally lower in FY2022 vis-à-vis FY2021

Get a full analysis of the fertilizer sector here