Yara International, a player in the fertilizer industry, is increasing its specialty fertilizer imports in India, aiming for a significant 25% rise this year amidst tightening export restrictions from China.
The company, which has primarily relied on imports from China, is diversifying its supply chains. Notably, it is sourcing 70% of its specialty fertiliser imports from Norwegian plants and the remainder from the Middle East. This strategic shift not only extends supply chains but also stabilizes prices for Indian farmers despite the global supply challenges.
Yara's focus on the booming horticulture market aligns with its plans for a 15-20% growth in the non-subsidised specialty fertilisers segment. However, regulatory barriers could influence future expansions into micronutrient manufacturing under India's Make in India program.
Source: DevDiscourse
