Whilst in 2010-11, China was India’s biggest urea supplier, accounting for nearly 38 per cent of its total imports, in the 2011-2012, the main supplier was Oman which provided about one-third the imports. The weighted average cost of India’s urea imports in 2011-12 was US$ 481.74 per tonne, which was up about 47 per cent over the previous year. This translates into total urea imports of US$ 3.77 billion.
India’s urea imports increased 18.5 per cent during the fiscal year 2012 vis-à-vis the previous fiscal. Most of the imports from Oman were through India’s long-term off-take agreement with Oman India Fertiliser Company, a joint venture between Oman Oil Company SAOC, IFFCO and Kribhco. Iran was India second-biggest supplier, followed by China. Iran accounted for 25.5 per cent of the urea imports, while China provided another 16.3 per cent.