U S Awasthi Managing Director of Iffco has said India’s fertilizer major has decided to export fertilizers to the countries in South Asia. It has already sold more than 15 thousand tonne of DAP to Nepal.
As fertilizer is in the negative list of export, it has sought permission from India government to sell crop nutrients to Oman in the Middle East.
A sharp reduction in domestic demand for fertilizers caused by a weak monsoon explains why Iffco is intent on exporting its products. The company has a huge stock of DAP and NPK and it feels it can do a good amount of export.
According to Awasthi, Oman has always helped India with supplies of urea, India should reciprocate by supplying crop nutrients to meet Oman’s needs now.
Awasthi claimed the fertilizer industry faces a crisis in that domestic demand for DAP and NPK has fallen by 29 and 27 percent respectively. Iffco alone has suffered a staggering drop of 32 percent in DAP sales and 44 percent in NPK sales, he added.