The import of urea to India is predicted to experience a slight and consistent decline from 2024 to 2028, with values dropping from 1.3915 billion USD in 2024 to 1.3513 billion USD in 2028. Compared to 2023, these forecasted values reflect a gradual annual decrease with minor year-on-year variations. The compound annual growth rate (CAGR) for this period indicates a modest average decline, signaling a stable yet shrinking demand for imported urea over the next five years.
Future trends to watch for include:
- Changes in domestic urea production capacity and government policies impacting import needs.
- Fluctuations in global urea prices and trade dynamics.
- Development of sustainable and alternative agricultural inputs reducing dependency on imported urea.