Argus Media reports that, according to provisional government statistics, India's NP/NPK stocks rose in February as slow sales since the start of 2019 and the unrestricted flow of stocks inland from ports continued to drive up inventories.
Indian NP/NPK stock levels are estimated to have reached 1.52 mnt at the end of February, up by 66.7 pc on the year, and 120 000 t higher than levels at the end of January. Preliminary statistics show that domestic production continued rising despite growing inventories, with output up by 13.2 pc in February to 744 000 t. In the same month, sales fell by 58.7 pc on the year to 626 760 t, following a 32.5 pc year-on-year decrease in January.
The decision to free up the flow of port stocks in the country comes as the Direct Benefit Transfer (DBT) scheme was introduced by the government in more Indian states throughout the course of 2018.
Indian DAP sales rose sharply year on year in February, by 54.3 pc to 416 240 t, with output rising by 17.9 pc on the year to 383 800 t, according to provisional statistics.
Demand for NPKs still remains healthy in the country overall, with sales volumes in the April 2018 – February 2019 period estimated at 8.13 mnt, up by 5.8 pc compared with the same period a year before, with domestic production at roughly 8.39 mnt, up by 9.4 pc.
India has entered into its import season and its near-term appetite appears strong with a number of tenders issued by NFL and RCF for grades such as 20-20-0+13S, 12-32-16 and 10-26-26 to be shipped in March and April.
Read the article online at: https://www.worldfertilizer.com/special-reports/06032019/indias-npnpk-stocks-rise-further-in-february/