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| Fertilizer Industry in 2022- NAQ Global |
Indian fertilizers speculate to experience good growth because of the constant increase in population leading rise in demand for food. India being a leading producer of agricultural products has a high demand for fertilizers too. However, manufacturers continue to witness so major challenges in 2022. Some of them are given below:
Major Challenges of the Fertilizer Industry in 2022
1. Lack of Efficient Domestic Production:
India is a giant agricultural hub in the world and the majority of the population works in the agricultural sector. The produce largely depends on the fertilizers. India imports a lot of fertilizers because of the limited availability in the nation. The water-soluble fertilizers are speculated to grow at the maximum rate in the fertilizer industry. And only 1/4th of the demand for water-soluble fertilizers is met via domestic production in the nation. Even with the advancement in technology, the country lacks to produce fertilizer coating material and proper fertilizers.
The fertilizer manufacturers are mapping down the lower the imports to increase the production and narrow the difference.
2. Low Production Because of The Wrong Use of NPK:
The use of Anticaking for NPK (nitrogen, phosphorus, and potassium) isn’t done in the right way. Plants need at least 17 components for proper development. The government motivates organic farming. Even steps are being taken for compound composts. The use of NPK is 4:2:1, but in Punjab, farmers use it 61:19:1. As urea is readily available to farmers so they use it irregularly leading to falling in yield.
So, the biggest challenge faced by the fertilizer industry is the overuse of fertilizers. It is important to increase the organic element of the soil via natural farming and use chemical fertilizers only in the required quantity. Thus, it is important to know the usage pattern of every fertilizer and use it only in the quantity which is suggested.
3. Availability and Pricing:
The Indian fertilizer industry has some serious issues because of the lack of availability and varied prices of the raw material needed to produce fertilizers. The major reason for price fluctuation in fertilizers is the supply-demand aspect. India lacks the natural resources needed to produce fertilizers. When talking about urea, there isn’t sufficient natural gas present in the nation.
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4. There aren’t Any Long Term and Stable Policies:
As it is seen that the Indian government still ignores the problems and challenges that the fertilizer industry in the nation faces and fails to set proper standards. The import duty on the materials imported and finished items are the same. Also, there isn’t any mandatory certification in the fertilizer industry. With the right standards and policies, the fertilizer industry will get the much-deserved boost it needs. The domestic certifications will add to the production, sale, and import.
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5. Distributors and Sellers are The Major Influencers in The Fertilizer Market:
The demand for specialty fertilizers is rising at a very quick pace. Distributors have a big role in the sale of water-soluble fertilizers. The aggregate sales of different grades of water-soluble fertilizer are rising at great speed yet some Indian companies don’t see that rise in their sale. Well, it is important to survey the different grades of fertilizers to know about their demand. It is also important to analyze the customers' usage cycle and then generate a solution accordingly.
So with so many challenges to face in the year 2022, the fertilizer industry continues to struggle and get firmly established. However, there has been immense growth and it will continue to flourish in the coming time.
