PL Sector Update - Agro Chemicals & Fertilizers - Weekly Update – Crop acreages flat YoY; Cumulative rainfall as on 26th July’23- Surplus of +5%
Agro Chemicals & Fertilizers - Himanshu Binani - Research Analyst, Prabhudas Lilladher Pvt Ltd
Weekly Update – Crop acreages flat YoY; Cumulative rainfall as on 26th July’23- Surplus of +5%
♦ Crop Acreages as on 28th July’23: flat YoY
♦ Rainfall as on 26th July’23: Rainfall surplus of 5%
♦ Water Reservoir levels as on 27th July’23- down 15% YoY; South India remains lower
♦ 80% kharif sowing done by July 23: Minister Dhananjay Munde
♦ ICAR Sees Normal Paddy Sowing This Season
♦ India becomes 2nd largest exporter of agrochemicals
♦ Bayer AG Cuts Earnings Outlook and Announces Write-Down on Glyphosate Assets
Exhibit 1: Crop Acreages as on 28th July’23 flat YoY
Source: Agricoop, PL
Exhibit 2: Rainfall as on 26th July’23: Rainfall surplus of 5% till date
Source: IMD, PL
Exhibit 3: Water Reservoir table as on 27th July’23: down 15% YoY; East India remains lower
Source: CWC, PL
Exhibit 4: Weekly Crop Prices continues to be remunerative
Source: Agmarkweb, PL
Exhibit 5: Fertilizer Raw material prices: Marginal recovery in Urea and ammonia prices on WoW basis