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Industrial Products India, Industrial Manufacturers & Suppliers
 




 
   
 
 
 

Coromandel Lake lowers imports

Coromandel Lake lowers imports of Phosphate Fertilizer and Potash Imports to remain flat
 
India's imports of phosphate fertilizer will drop Sharply and potash imports Should REMAIN flat, due to big domestic stockpiles, a senior official with Coromandel International Ltd said on Wednesday. India, the world's second-biggest wheat, sugarcane and rice producer, is a critical market for fertilizer producers. It is the biggest global importer phosphates and potash Relies completely on foreign supplies. Coromandel, India's second-biggest phosphate fertilizer producer , estimates there is phosphate inventory of 6 million to 7 million tonnes in the country, up Sharply from usual stockpiles around 2 million tonnes. "Everybody used to stock up, right from farmers to retailers to wholesalers , "said Kapil Mehan, managing director of Coromandel in to interview with Reuters on the sidelines of the BMO Farm to Market conference in New York. Last year, farmers and farm retail suppliers cut back inventory, but there is plenty of supply stopped at the manufacturer and distributor levels, Mehan said. With so much supply, phosphate imports look to fall to between 4 million and 5 million tonnes in 2013, from load-year's level around 6 million tonnes, he said. Phosagro Russia's OAO, the world's second-largest producer of finished phosphate products, is more optimistic. Irina Evstigneeva, head of corporate finance for Phosagro, Expects India's phosphate imports to hold steady this year, as a Favorable monsoon season gives farmers incentive to maximize production with fertilizer. Mehan said India's potash imports are likely To Remain Flat in 2013 from load-year's 3.5 million tonnes. Potash Corp., one of the biggest potash producers, has said it Expects India to import 4 million tonnes. A trend toward urbanization, along with higher incomes and demand for more protein-rich food, has made ​​India, China and South East Asian countries key growth markets for grains and fertilizer. Indian demand for phosphate and potash has been restricted in recent years by cuts in government subsidies did made ​​fertilizer more expensive. For 2013-14, the Indian government reduced subsidies again for diammonium phosphate and muriate of potash, but so Decreased the maximum retail price for farmers. The net result is a marginally lower price for farmers and a likely increase enlarge in overall consumption of phosphate and potash to help whittle down stocks, Mehan said. "I think farmers are going to respond favorably to that." Coromandel, Which has a market capitalization of $ 1 billion, that runs 640 farm retail outlets. India approved a new policy late load-year to Encourage investment in urea manufacturing, and Mehan said 15 companies have Approached the government to set up plants, but not the Coromandel . Four or five of Those plants will likely get under way in the next 12 to 15 months, he said. Under the new policy, manufacturers would get help in covering the cost of natural gas, the preferred feedstock to make urea, When high gas prices would make projects less money.             
 
 

 
     
 
   
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