Economy

Turkmenistan to soon export potash-based fertiliser to India

Our Bureau Chennai | Updated on November 26, 2013

Turkmenistan may soon export potash-based fertiliser to India.

“In another two years, we will be able to produce two million tonnes of potash fertilisers a year, and we do not have much domestic requirement. Exports are an option,” said Parahat H. Durdyev, Ambassador of Turkmenistan in India, at an event organised by Federation of Indian Export Organisations recently.

Turkmenistan is increasing production of potash-based fertilisers, urea, and wheat in an attempt to widen bilateral trade with Central- and South-Asian countries. “We produce 300 million tonnes of wheat a year, which can be an income generator for us,” said Durdyev.

Indian fertiliser manufacturers import potash in the form of Muriate of Potash. According to Fertiliser Association of India data put up by market intelligence firm ICIS, India imported 41 per cent less at 1.66 lakh tonnes in September compared with 2.85 lakh tonnes a month previously.

India’s trade with Turkmenistan is little against its exchange with Russia valued at $7.24 billion in 2012-13. Besides Russia, Georgia and Ukraine are the large trading partners in the Commonwealth of Independent States union.

In a logistical boost, plans for an International transport corridor that will touch 14 countries to take goods from India to Russia are being drawn up. Diplomatic negotiations with Iran, an important node in the map, are underway. “This will cut transport time to 30 days from the current duration of 45 days through Suez Canal,” says Ravi Capoor, Joint Secretary, Ministry of Commerce. A timeframe as to when it will materialise cannot be provided, he said.

bharani.v@thehindu.co.in

Published on November 26, 2013

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