In June 2022, India Potash Limited (IPL), an Indian fertiliser company, and ICL, a multinational manufacturing concern that develops, produces, and markets fertilisers, signed a long-term agreement for the supply of polysulphate through 2026. The five-year term is for an overall volume of one million metric tonnes. The Government of India's programme for organic agriculture is anticipated to gain strength as a result of the availability of polysulphate.
ICL, a global Complex Fertilizers Market manufacturing company that creates, manufactures, and sells fertilisers, signed framework agreements in India and China in May 2022 to supply 600,000 and 700,000 metric tonnes of potash, respectively, in each country at a price of 590 US dollars per tonne, in 2022.
The emergence of the new COVID strain has had a negative impact on the health care system in many developed and developing nations. There is a shortage of hospital personnel, medications, oxygen beds, and ventilators. Disruptions in supply chains are causing problems in production processes across many nations. The market for complex fertilisers globally has been negatively impacted by this.
One of the main factors hindering the growth of the global Complex Fertilizers Market is the rising trend towards the adoption of organic fertiliser. Over 50.9 million hectares of land were used for organic agricultural activities in 2020, according to a report by the Research Institute of Organic Agriculture (FiBL).
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