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It is estimated that the profit of India Fertilizer Company in the quarter will increase by 22% compared with the same period of last year, net profit will increase by 28%, and operating profit may increase by 65%. Among them, Tata Chemical Company, GSFC and United Phosphate Fertilizer Company are expected to increase their operating profits by 200% year-on-year, and the profits of Rallis and Deepark also increased significantly. Analysts at Emkay Global expect that the revenue of the fertilizer industry in India may increase by 20% year-on-year in this quarter, with a profit growth of 80%. Fertilizer trading companies such as Coromandel International, Zuari Industries, and Chambal Fertilizer Co., Ltd. in India profit more. However, India’s chemical industry’s revenue was relatively stable, prices remained stable, and profitability declined by 183%.
In the current quarter, demand for fertilizers in India is still increasing. Due to favourable seasonal weather conditions in the Rabbi this year, the Indian Ministry of Agriculture has suggested that according to the experience of the planting season in the first half of the year, the originally planned supply of 900,000 tons of compound fertilizer may not be able to satisfy the Rabbi planting. Due to seasonal demand, the government needs to supply 1.1 million tons of compound fertilizer.
India's fertilizer imports account for 45% of global fertilizer trade, so the increase in domestic demand has driven the international fertilizer market to a large extent. International diammonium prices increased by 27% year-on-year, diammonium prices rose by US$100-120/ton in the first two months, and last week saw prices fall by US$10 to US$15. Prices are now stable at FOB prices of US$560-575. / Ton, while international urea prices rose 44% year-on-year. However, according to Citigroup's analysis of the global fertilizer market, the increase in the price of diammonium may be under pressure in the short term, as some new production capacity is about to be launched, among which, Saudi Arabia will begin production of 2.92 million tons of diammonium annually. At the same time, the current rise in global food prices has been adjusted last week, with corn prices down by 11% year-on-year, wheat and soybean prices down by 9% year-on-year, so urea prices may fall back.
In the second quarter of fiscal year of this year (August 1st - October 31st), the fertilizer companies in the country are generally very profitable. At present, when the country is in the Rabbi planting season, favourable climatic conditions have promoted agricultural production and stimulated farmers. Strong demand for chemical fertilizers.