Urea imports have decreased by 4 per cent to 62.58 lakh tonnes (LT) in the April-December period of 2014-15 financial year.
Urea imports stood at 65.35 LT in the April-December period of 2013-14, according to official data.
Urea is imported by three STEs (state trading enterprises) - Indian Potash Ltd (IPL), MMTC and STC on behalf of the government to meet domestic shortfall.
The country produces about 22 million tonnes (MT) against annual domestic demand of 30 MT.
Besides, these three state trading enterprises (STEs), the government imports urea through OMIFCO, which is a joint venture project of IFFCO and Kribhco, with an offtake agreement.
According to sources, urea imported from OMIFCO is fixed at price of about USD 147 per tonne, while the soil nutrient imported via three STEs was at average price of about USD 300 per tonne -- lower than the last year's average price of about USD 322 per tonne.
Sources also added that amid reports of urea shortage in the country, the total soil nutrient despatched in December from ports and godowns to different cities across the country was highest ever at 34.84 LT.
India's urea imports have decreased 12 per cent to 7.08 MT in 2013-14, due to carry-over stocks from previous year. The country had imported 8.04 MT of urea in the entire 2012-13 fiscal.
Urea is provided to farmers at a fixed subsidised maximum retail price (MRP) of Rs 5,360 per tonne. The difference between the cost of production and MRP of urea is provided as subsidy to manufacturers.
