Unveiling the Urea Market of the American Continent

Abstract

Aims: Growing agricultural production and its subsequent demand for fertiliser is a critical element for any country in its export and import ecosystem. In between this, a lucrative market has always been tried to identify many of the agripreneurs in India. Study Design: The complete research design work was based on secondary data in which relevant data were gathered from ITC HS Code (310210, 310221, 310230), research bulletins, world bank reports and other relevant websites. Place and Duration of Study: The study was taken as the mandatory summer training course programme of MBA (Agribusiness) which was guided and carry forward by International Agribusiness Management of Anand Agricultural University and XYZ Company Ltd of Ahmedabad jointly, at the workstation of the later institutes at Ahmedabad itself. Methodology: South America, North America and Central America are three corner stone of this research work where probable market identification, understanding its agricultural situation and ministry handling its registration process for export of nano urea were done through a conceptualised secondary data collection and analysis process. A total of 22 export market was identified in this study for probable nano urea market for India. Results: In South America, Uruguay takes the lead with 80.4 percent of its land designated as agriculture while Argentina tops the chart in arable land with 11.9 percent. North America, Mexico stands out with the largest share of agricultural land, comprising 50 percent of its total land area. Venezuela, Chile, Uruguay, and Argentina, impose a 6 percent import tariff, while Brazil (4.8%) opts for a slightly lower than the former. Interestingly, Peru, Bolivia, Ecuador, Colombia, and Paraguay have imposed 0% import tariff, indicating a more open approach to urea imports. Conclusions: Twelve recommended countries include Peru, Brazil, Chile, Uruguay, Argentina, Suriname, Guatemala, Costa Rica, Nicaragua, Canada, the USA, and Mexico for the export of Nano urea from India.