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Fertiliser sales volume to spurt 10% to record 68 million tonne in FY21: Report

Crisil Ratings in a report stated that fertiliser sales in the country is set to surge 10 percent to a record 68 million tonne this fiscal following a good monsoon.

January 29, 2021 / 04:43 PM IST

Domestic fertiliser sales is likely to surge to 10 percent to a record 68 million tonne in 2020-21 following a good monsoon, which is well above the 3 percent annual growth rate that was witnessed since the last five years, according to a report.

Crisil Ratings in a report stated that fertiliser sales in the country is set to surge 10 percent to a record 68 million tonne this fiscal following a good monsoon.

Also, the timely disbursement of the Rs 65,000 crore additional subsidy announced by the government under the Atmanirbhar Bharat Package 3.0 last November can support the credit profiles of fertiliser manufacturers, it added.

For the government, the upcoming budget for fiscal 2022 is an opportunity to address the issue of subsidy arrears in two ways, one is providing the entire additional subsidy for this fiscal and the other is budgeting for adequate subsidy next fiscal, it said.