Fertiliser cos renegotiate raw material import deals

Indian fertiliser makers are renegotiating import deals of potash, phosphate and other raw materials, as a sharp rupee fall has lifted production cost at a time when farmers resist price rise and the government not willing to raise subsidy, three industry officials said.

A few suppliers have agreed to lower price and the rest are likely to follow suit in next two weeks, they said.
"International suppliers have agreed to reduce prices of diammonium phosphate (DAP) by USD 35 per tonne and NPK by USD 25 per tonne," U.S. Awasthi, managing director, Indian Farmers Fertiliser Co-operative Ltd (IFFCO), the country's biggest fertilizer company, told Reuters.
Two other company officials, who declined to be named, said they were also renegotiating import deals with suppliers.