The minister said the government has already imported 16 lakh tonnes of urea, which will be shipped in the next 45 days.
The Centre is supporting farmers and the agricultural sector by continuing the present subsidy levels and giving special packages of additional subsidies for DAP and three mostly consumed NPK grades.
Deepak Fertiliser on June 13 said Ministry of Chemicals and Fertilizers has agreed to release about Rs 485 crore outstanding subsidy payment to the company
The ministry has asked state-owned gas utility GAIL India Ltd to charge a rate equivalent to price of imported liquefied natural gas (LNG) for regulated domestic gas, called APM gas, used by fertiliser plants for manufacturing non-urea products.
The report said that any leakages in fertiliser subsidy could be due to diversion for urea other than the agriculture purpose. In this regard the state governments are empowered to take action.
In view of delay on the part of the government in undertaking comprehensive fertiliser reforms, Ind-Ra has maintained a stable to negative outlook on the fertiliser sector for FY16.
Fertiliser Ministry today sent a status report to Prime Minister's Office (PMO) on the issue of private firms being reportedly favoured in grant of subsidy on certain fertilisers.
Gautam Sen, CFO of RCF spoke to CNBC-TV18 about policy changes and the way ahead for the agro-chemical industry and the latest with RCF.
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.
Fertiliser stocks took quite a hit on Friday and there is a sense of uncertainty on what exactly has happened on the policy front. In an interview to CNBC-TV18, Satish Chander, director general of Fertilizer Association of India clears the air and says the new investment urea policy is not rejected; in fact it is under discussion.
The Committee of Secretaries has been working on a new draft for urea investment policy. Saumitra Chaudhuri, member of the Planning Commission indicated that they have been discussing many alternatives for the new urea investment policy currently and it will be rolled out over next four-five years.
The government has accepted the Chawla Committee recommendations on natural resources. The report talks on various aspects like pricing and allocation of precious natural resources, reports CNBC-TV18's Aakansha Sethi.
Kapil Mehan, managing director of Coromandel International, in an interview to CNBC-TV18, gave his view on how the issue of urea deregulation will affect his business. Mehan feels that gas availability will affect new capacities of urea.
In an exclusive interview to CNBC-TV18, Mudar Patherya, Investment Advisor, says that in this volatile environment, his top bets are Mangalore Chemicals and Fertilizers and Pitti Laminations.
ICRA has come out with its report on nutrient-based subsidy (NBS). As per the research firm NBS mechanism for urea is a positive step towards market-linked farm gate pricing, but impact likely to be neutral for the credit profile of gas-based urea manufacturers.
Satish Chander, Director General of Fertiliser Association of India said the change in the urea policy is on the right direction and it is going to be positive for the country.
In the fertilizers segment, Rashtriya Chemicals and Fertilisers (RCF) reported poor results for the quarter ended June for FY12. The net profit fell by 80% to Rs 3.96 crore from Rs 19.8 crore in the year ago period, even though net sales saw a 10% increase year-on-year.
Coromandel International posted a very strong set of numbers and the stock reacted positively, moving up around 2%. Kapil Mehan, managing director of the company joins CNBC-TV18 to discuss the financials.
The planning commission has put forward their recommendations for the fertiliser policy and more importantly, for the Nutrient-Based Subsidy (NBS) policy. In an interview with CNBC-TV18, Sutanu Behuria, Fertiliser Secretary, talked about how much headway has happened on that front.
A Vellayan, Executive Chairman of Murugappa Group joins CNBC-TV18 to talk about the group’s companies and the headways they have made.
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.
The chairman and managing director of National fertilizers, VK Sharma, in an exclusive interview on CNBC-TV18 spoke about the budget expectations from the fertilizer space.