Latest news with #RajibChakraborty
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First Post
7 days ago
- Business
- First Post
From magnets to fertilisers: China's new trade weapon hits Indian farms
After blocking supplies of rare earths, China has blocked supplies of specialty fertilisers to India, which has led to shortage and rise of fertiliser prices in India. read more A drone view shows a cargo ship and shipping containers at the port of Lianyungang in Jiangsu province, China October 17, 2024. (Photo: Reuters) After blocking rare earths' supplies to India, China has now blocked the supply of specialty fertilisers to India, according to a report. Earlier this month, it emerged that even though China had resumed the exports of rare earths to rest of the world on licence-basis, no licences were being issued to India . The halt in supplies posed a substantial threat to India's automobile industry that depends on Chinese rare earth supplies, particularly magnets. STORY CONTINUES BELOW THIS AD The Economic Times has reported that China has halted specialty fertilisers' shipments to India for two months. These fertilisers are used in the cultivation of fruits, vegetables, and other remunerative crops. China has not blocked such shipments to any other country. Notably, the blocking of rare earths and fertilisers has come at a time when India and China are working to improve their relationship after reaching an understanding for partial disengagement in the standoff in Ladakh last year. The two countries have just resumed the Kailash Mansarovar Yatra and are under talks to resume direct flights. Indian imports from China down 80% Indian imports of specialty fertilisers from China are down up to 80 per cent, according to Rajib Chakraborty, the President of Soluble Fertilizer Industry Association (SFIA). 'China has been restricting suppliers of specialty fertilisers to India for the last four to five years. However, this time it is a complete halt,' Chakraborty told ET. A separate report in the newspaper said that farmers are reporting shortages and increase in prices for fertilisers like Diammonium Phosphate (DAP), which is used widely in rabi crops like wheat, pulses, and mustard. 'India's import of DAP from China fell drastically by nearly 75 per cent in the first half of FY25 from corresponding period last year,' Richa Bagaria, Associate Director, CareEdge Ratings, told ET. STORY CONTINUES BELOW THIS AD As a result, farmers in states like Punjab, Haryana, and Uttar Pradesh, have reported shortages of the fertiliser and have said they are forced to pay Rs 250-350 more for a bag of fertiliser, according to the newspaper. Is it about 'PN3'? In its report, the ET mentioned that the blocking of supplies industrial essentials like rare earths and fertilisers has come amid India's block on direct investment from China under 'press note 3'. India issued press note 3, commonly called PN 3, in 2020 that essentially blocked all investments from China unless approved by the Union government. The PN 3 was issued during the India-China conflict in Ladakh in 2020 when China mounted incursions in India. Over the past year, the government has said that there was no plan to relax the provisions. 'I cannot blindly receive foreign direct investment (FDI) because I want money for investment, forgetful or unmindful of where it is coming from…'We want business, we want investment, but we also need some safeguards, because India is located in a neighbourhood that is very, very sensitive,' said Union Finance Minister Nirmala Sitharaman in October 2024.
Time of India
7 days ago
- Business
- Time of India
China plays hardball! After choking rare earth magnets supply, China blocks important agriculture-related shipments to India; continues exports to others
Chinese officials are avoiding inspection of India-bound consignments. (AI image) China has stopped exports of specialty fertilisers to India over the past two months, whilst continuing to supply other countries, according to senior executives at major importing firms. For India, these fertilisers are crucial for enhancing yields of fruits, vegetables and other profitable crops. The Chinese authorities require inspection of factory shipments. Sources familiar with the situation told ET that Chinese officials are avoiding inspection of India-bound consignments, effectively blocking exports through procedural means rather than an explicit prohibition. The technological capability to manufacture speciality fertilisers is currently absent in India, as historically low volumes have made local manufacturing facilities financially unfeasible. This development occurs amid growing diplomatic strains between the nations over the last five years, marked by border conflicts and China's alignment with Pakistan. China blocks fertilizer shipments to India Approximately 80% of India's requirements for these chemical inputs come from Chinese sources. "China has been restricting suppliers of specialty fertilisers to India for the last four to five years. However, this time it is a complete halt," Rajib Chakraborty, president, Soluble Fertilizer Industry Association (SFIA) was quoted as saying. China has implemented restrictions on exporting crucial materials like rare earth magnets, seemingly in response to imposed tariffs and other limitations. For countries sharing a border with India, government authorisation is required for investments, a measure specifically targeting its northern neighbour. China Blocks Speciality Fertilizers Exports To India Industry data suggests that India's typical imports of specialty fertilisers amount to 150,000-160,000 tonnes during the June-December period. Non-subsidised soil nutrients, known as specialty fertilisers, include various categories including water-soluble fertilisers (WSFs), liquid fertilisers for foliar and fertigation, controlled release fertilisers (CRFs), slow-release fertilisers (SRFs), micronutrient fertilisers, fortified fertilisers, customised fertilisers, nano fertilisers, bio-stimulants, organic and other value-added and innovative fertilisers. Speciality fertilisers provide enhanced crop production, maintain soil quality and ensure efficient nutrient utilisation, whilst reducing negative effects on the environment when compared with conventional fertilisers. Also Read | Reducing acute dependence, countering China's near monopoly: India readies Rs 5,000 crore scheme for rare earth minerals According to the Fertilizer Association of India, the Indian micronutrient fertiliser market is projected to surpass $1 billion by 2029, growing at a CAGR of 9.2%. The FAI also forecasts that Indian biostimulants will reach $734 million by 2029, with a CAGR of 15.6%, whilst the organic fertiliser sector is expected to expand to $1.13 billion by 2032, showing a CAGR of 7%. Leading fertiliser organisations including Deepak Fertilizers, Paradeep Fertilizers and Nagarjuna Fertilizer Company are active participants in this market segment. "Specialty fertilisers are now replacing primary fertilisers, thereby increasing their consumption volume," Chakraborty said, adding that a large number of companies are now interested in setting up manufacturing units. Also Read | India bleeds Pakistan dry: Water at 'dead' levels in Pakistan's dams; bigger Indus river plans in the works - top points to know India has the option to look at additional sources for importing these agricultural inputs. "While alternative destinations such as Jordan and Europe can be explored, the challenge is to land these chemicals in time," said a senior official of a multinational fertiliser company. Whilst standard fertilisers like urea, diammonium phosphate (DAP) and muriate of potash (MOP) serve general agricultural needs, speciality fertilisers provide precise nutrient delivery systems tailored to particular requirements. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
7 days ago
- Business
- Business Standard
After magnets, China halts speciality fertiliser shipments to India
China has suspended the export of speciality fertilisers to India over the past two months, The Economic Times reported today, citing senior executives from major importing firms. These fertilisers, crucial for enhancing yields of high-value crops such as fruits and vegetables, continue to be shipped to other countries. Inspections withheld despite no official ban Shipments bound for India are being withheld through procedural delays. Chinese authorities have reportedly ceased inspections of consignments meant for Indian buyers, effectively stalling exports without announcing an official ban, The Economic Times reported, citing sources. Normally, India imports between 150,000 and 160,000 tonnes of speciality fertilisers during the June–December period. India relies on China for approximately 80 per cent of its speciality fertiliser requirements. Rajib Chakraborty, President of the Soluble Fertilizer Industry Association (SFIA), stated that China had been restricting suppliers of speciality fertilisers to India for the past four to five years, but this time, the restrictions amounted to a complete halt. China expands trade restrictions beyond fertilisers China's recent actions are not confined to fertilisers. Since April, it has also restricted exports of rare earth materials, impacting global supply chains for critical industries such as automotive and electronics. Manufacturers in the United States, Europe, and India are now experiencing shortages of essential components like industrial magnets. Domestic growth stifled by regulation despite rising demand India's micronutrient fertiliser market is projected to exceed $1 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.2 per cent, according to the Fertiliser Association of India (FAI). Despite this growing demand, domestic manufacturers face major hurdles under the Fertiliser Control Order (FCO). Industry groups blame policy for import dependence Industry groups argue that existing policies favour Chinese imports and hinder Indian manufacturers. The Chamber for Agri Input Protection (CAIP), based in Ahmedabad, added that no other sector, including pharmaceuticals, is subject to such stringent oversight. Startups and local firms are required to obtain multiple licences and maintain offices and warehouses in each state where products are sold. In contrast, foreign suppliers enjoy comparatively light regulatory obligations, needing only to meet basic import norms to distribute nationwide, industry bodies said. Government data show that India imported 7 million tonnes of urea in 2023–24, worth $2.6 billion. Of this, 1.86 million tonnes—valued at $730 million—originated from China. Additionally, India imported 10.65 million tonnes of phosphate and potash (P&K) fertilisers, with 2.2 million tonnes supplied by China.
Economic Times
7 days ago
- Business
- Economic Times
After magnets, China now plants agriculture barrier for India
Live Events Local Production Unviable (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: China has halted shipments of specialty fertilisers used to increase the yields of fruits, vegetables and other remunerative crops to India for the last two months, according to top executives of several large importers. China, a global supplier of agricultural inputs, continues to export them to other imports about 80% of its supplies of these chemicals from China. "China has been restricting suppliers of specialty fertilisers to India for the last four to five years. However, this time it is a complete halt," said Rajib Chakraborty, president, Soluble Fertilizer Industry Association (SFIA).Shipments from factories are subject to inspections by the Chinese not been inspecting shipments meant for India, using various procedures to block exports without imposing an express ban, said people with knowledge of the has been restricting the export of key raw materials such as rare earth magnets in apparent retaliation for tariffs and other mandates government approval for investment by countries that have a border with it, specifically aimed at its northern against the backdrop of an escalation in tensions between the two over the past five years, including border skirmishes and China's support for fertilisers are non-subsidised soil nutrients. These include water-soluble fertilisers (WSFs) and liquid fertilisers for foliar and fertigation, controlled release fertilisers (CRFs), slow-release fertilisers (SRFs), micronutrient fertilisers, fortified fertilisers, customised fertilisers, nano fertilisers, bio-stimulants, organic and other value-added and innovative typically imports 150,000-160,000 tonnes of specialty fertilisers in the June-December period, according to some industry India, the market for micronutrient fertilisers is expected to cross $1 billion by 2029 at a CAGR of 9.2%, according to the Fertilizer Association of India (FAI).Indian biostimulants are expected to grow to $734 million by 2029, a CAGR of 15.6% while the organic fertiliser market is predicted to increase to $1.13 billion by 2032, a CAGR of 7%, according to the fertilisers enhance crop yields, improve soil health, and optimise nutrient use efficiency, often reducing environmental impact compared to traditional top fertiliser companies such as Deepak Fertilizers , Paradeep Fertilizers and Nagarjuna Fertilizer Company operate in this does not have the technology to produce specialty fertilisers as volumes until now have been low, making it unviable for companies to set up manufacturing facilities locally.'However, specialty fertilisers are now replacing primary fertilisers, thereby increasing their consumption volume,' Chakraborty said, adding that a large number of companies are now interested in setting up manufacturing the meantime, India can also explore other options for importing these fertilisers.'While alternative destinations such as Jordan and Europe can be explored, the challenge is to land these chemicals in time,' said a senior official of a multinational fertiliser urea, diammonium phosphate (DAP) and muriate of potash (MOP) are considered commodity fertilisers with broader applications, specialty fertilizers offer targeted nutrient delivery and formulation for specific needs.
Time of India
26-06-2025
- Business
- Time of India
After Magnets, China Now Plants Agri Barrier for India
China has halted shipments of specialty fertilisers used to increase the yields of fruits, vegetables and other remunerative crops to India for the last two months, according to top executives of several large importers. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads China has halted shipments of specialty fertilisers used to increase the yields of fruits, vegetables and other remunerative crops to India for the last two months, according to top executives of several large importers. China, a global supplier of agricultural inputs, continues to export them to other imports about 80% of its supplies of these chemicals from China. 'China has been restricting suppliers of specialty fertilisers to India for the last four to five years. However, this time it is a complete halt,' said Rajib Chakraborty, president, Soluble Fertilizer Industry Association (SFIA).Shipments from factories are subject to inspections by the Chinese not been inspecting shipments meant for India, using various procedures to block exports without imposing an express ban, said people with knowledge of the has been restricting the export of key raw materials such as rare earth magnets in apparent retaliation for tariffs and other mandates government approval for investment by countries that have a border with it, specifically aimed at its northern against the backdrop of an escalation in tensions between the two over the past five years, including border skirmishes and China's support for fertilisers are non-subsidised soil nutrients. These include water-soluble fertilisers (WSFs) and liquid fertilisers for foliar and fertigation, controlled release fertilisers (CRFs), slow-release fertilisers (SRFs), micronutrient fertilisers, fortified fertilisers, customised fertilisers, nano fertilisers, bio-stimulants, organic and other value-added and innovative typically imports 150,000-160,000 tonnes of specialty fertilisers in the June-December period, according to some industry India, the market for micronutrient fertilisers is expected to cross $1 billion by 2029 at a CAGR of 9.2%, according to the Fertilizer Association of India (FAI).Indian biostimulants are expected to grow to $734 million by 2029, a CAGR of 15.6% while the organic fertiliser market is predicted to increase to $1.13 billion by 2032, a CAGR of 7%, according to the fertilisers enhance crop yields, improve soil health, and optimise nutrient use efficiency, often reducing environmental impact compared to traditional top fertiliser companies such as Deepak Fertilizers, Paradeep Fertilizers and Nagarjuna Fertilizer Company operate in this segment.
