Certain urea units given approval to produce beyond installed capacity: Govt

The department of fertilisers said it was monitoring the impact of the Russia- Ukraine war and taking steps to ensure the import of P&K fertilisers from alternate sources.

Sometime back reports said India was boosting fertiliser imports from nations including Canada and Israel to ensure sufficient supplies for the coming summer sowing season. Farmers usually start planting crops including rice, cotton and soybean with the arrival of monsoon rains in June.

To help make up for any lost supplies of nitrogen, phosphate and potash, Indian companies are also increasing supplies from Saudi Arabia and Morocco, a Reuters report had said.

India is a leading importer of fertilisers for its huge agriculture sector, which employs about 60 percent of the country’s workforce and accounts for 15 percent of the $2.7 trillion economy.

India depends on imports for its entire annual consumption of 4 million to 5 million tonnes of potash and ships in a third of this from Belarus and Russia. Landlocked Belarus uses ports in Russia and Lithuania for its exports.

Estimates suggest Russia and Ukraine meet nearly 10-12 percent of India's fertiliser needs -- and supply not just ready-to-use fertiliser, but raw materials like potash and ammonia as well.

In a reply to a question on the impact of the Russia-Ukraine war on the Indian economy, the finance ministry said that the government was closely monitoring the global price movements and their impact on India’s economy through trade.

It said the government was also committed to supporting initiatives for releases from Strategic Petroleum Reserves, for mitigating market volatility and calming the rise in crude oil prices.