PL Sector Update - Agro Chemicals & Fertilizers - Weekly Update – Crop acreages flat YoY; Cumulative rainfall as on 26th July’23- Surplus of +5%

Agro Chemicals & Fertilizers - Himanshu Binani - Research Analyst, Prabhudas Lilladher Pvt Ltd

Weekly Update – Crop acreages flat YoY; Cumulative rainfall as on 26th July’23- Surplus of +5%

♦ Crop Acreages as on 28th July’23: flat YoY

♦ Rainfall as on 26th July’23: Rainfall surplus of 5%

♦ Water Reservoir levels as on 27th July’23- down 15% YoY; South India remains lower

♦ 80% kharif sowing done by July 23: Minister Dhananjay Munde

♦ ICAR Sees Normal Paddy Sowing This Season

♦ India becomes 2nd largest exporter of agrochemicals

♦ Bayer AG Cuts Earnings Outlook and Announces Write-Down on Glyphosate Assets

Exhibit 1: Crop Acreages as on 28th July’23 flat YoY

Source: Agricoop, PL

Exhibit 2: Rainfall as on 26th July’23: Rainfall surplus of 5% till date

Source: IMD, PL

Exhibit 3: Water Reservoir table as on 27th July’23: down 15% YoY; East India remains lower

Source: CWC, PL

Exhibit 4: Weekly Crop Prices continues to be remunerative

Source: Agmarkweb, PL

Exhibit 5: Fertilizer Raw material prices: Marginal recovery in Urea and ammonia prices on WoW basis