The government on Wednesday annouced around 15 percent cut in nutrient- based subsidy (NBS) rates for phosphate and potassium based fertilisers for 2013-14 following falling global prices.
The fertilizer subsidy for FY13 has been pegged at Rs 610 billion in the Union Budget 2012. RG Rajan, chairman and managing director, RCF believes since there has been a substantial fall in the international price of DAP, MOP and NPK, this number is correct.
Prabhudas Lilladher has come out with its report on Indian agri products. The research firm expects the demand of non-urea fertiliser to see further contraction (may be sharper than Apr-Nov) in the short term.
The government today said there is shortage of key fertilisers and it is trying to import sufficient quantities to ensure domestic supply.
The GoM today approved decontrol of urea prices, a move that marks a significant move as far as pending reforms is concerned, reports CNBC-TV18's Rituparna Bhuyan.
The deadlock between Indian fertiliser firms and global suppliers of muriate of potash (MoP) over pricing of imports for this fiscal continues, with the later refusing to sell the farm nutrient at a lower price of USD 470 a tonne.