The minister said the government has already imported 16 lakh tonnes of urea, which will be shipped in the next 45 days.
The government’s fertiliser subsidy bill is likely to expand significantly in the current fiscal year as well as in 2022-23, in line with a trend that has seen the actual outlays exceed budget estimates
India’s fertiliser imports had been rising even before the Russia-Ukraine conflict due to pandemic-related disruptions. With low self-sufficiency, volatility in global fertiliser supplies will have a major impact on India.
The government, which increased subsidies on DAP and some other non-urea fertilisers, is unlikely to hike subsidies on non-urea fertilisers, sources said.
Net income declined to Rs 978.3 crore in April-June of 2016-17, from Rs 1,555.7 crore a year ago.
Retail prices of non-urea fertilisers such as Di-ammonium Phosphate (DAP), Muriate of Potash (MoP) and NPK are decontrolled and are determined by the manufacturers, while the Centre gives them fixed subsidy each year.
The company has decided to supply DAP to its customers from inventory in hand and imports.
In an interview with CNBC-TV18, SK Nanda, Chairman & Managing Director of Gujarat State Fertilizers & Chemicals said additional capacity and better fertilizer sale will help in revenue realisation next quarter.
If there is no supplementary Budget, this year's subsidy amounts that will be due from the government at the end of the year will be a frightening Rs 1,500 crore
Concerned over doubling of fertiliser prices within a year, government today discussed ways to control the input cost of farm nutrients, ahead of Rabi (winter) crop season.
With a view to augment fertiliser supply in the upcoming rabi season, state-owned trading firm MMTC has invited bids for the import of three lakh tonnes of di-ammonium phosphate (DAP).
Faced with instability in global prices and shortage of fertilisers on the domestic front, the government today decided that India should explore options to buy mines and factories abroad, sources said.
The production of Di-ammonium Phosphate (DAP) in the country in June 2011 stood at 2.90 lakh tonne, 24% less than the target due to maintenance jobs at some plants. The target for June 2011 was 3.82 lakh tonne.
Fertiliser cooperative major IFFCO today reported a nearly two-fold jump in its net profit at Rs 792 crore for the 2010-11 fiscal on the back of record production and sales of key farm nutrients.
The official said the removal of the restriction would boost domestic supply of DAP in the ongoing Kharif season as the fertiliser companies are free to pass on high global prices to consumers.
Kapil Mehan, MD of Coromandel International, in an interview with CNBC-TV18’s Udayan Mukherjee, said that the difficulty arose due to advisory clause introduced along the notification issued in 2011-12.
Accusing the Centre of discrimination, Gujarat Chief Minister Narendra Modi today appealed it to immediately release to the state the sanctioned quota of key farm nutrient - DAP fertiliser for the kharif season.
The government may consider giving fertiliser firms freedom to fix maximum retail price of di-ammonium phosphate (DAP) tomorrow. This move would help augment domestic supply of the key farm nutrient.
In a bid to boost supply of the key farm nutrient, the government is likely to remove the restriction on fertiliser firms that they can hike the maximum retail price of Di-ammonium phosphate (DAP) only by up to Rs 600 a tonne.
Realisations have been picking up off-late due to which the volume of sale of single super phosphate (SSP) has picked up. RR Dhanani, MD of Liberty Phosphates, in an interview with CNBC-TV18’s Sonia Shenoy and Reema Tendulkar, spoke about the latest happenings in his company and the road ahead.
Ahead of the start of the kharif season in June, state-owned trading firm MMTC has invited bids for the import of an unspecified volume of di-ammonium phosphate (DAP).
Satish Chander of Fertiliser Association of India, in interview with CNBC-TV18’s Mitali Mukherjee and Udayan Mukherjee, shared his view on this DAP price hike and what would be its impact on the major fertiliser stocks.
Fertiliser companies may soon get the freedom to hike maximum retail prices of Di-ammonium phosphate (DAP) by more than Rs 600 a tonne as the fertiliser ministry is planning to move a Cabinet proposal in this regard.
The cabinet has approved revision in nutrient-based subsidy (NBS) on fertilizers with effect from April 1, 2011. The government would be spending Rs 33,500 crore for NBS.
R Mukundan, MD of Tata Chemicals, in an interview on CNBC-TV18 said that the company’s operating performance was impacted due to the sever winter faced in the UK and that the situation on the ground in terms of demand or a pullback in demand was not critical at this point in time.