Companies in the private sector remain wary of committing large investments to urea manufacturing
State-owned Solar Energy Corporation of India has given a record 11th extension to its 724,000-tonne green ammonia tender, with the last date for submission of bids now set as July 10 (online) and July 14 (offline).
The MDA scheme, aimed at promoting organic fertilisers and manure, is set to get an increased allocation of Rs 150 crore, up from Rs 100 crore in FY25
The government will be aided in this by the fact that input costs have come off record highs, and a further boost to domestic urea production will also help. Moreover, according to a World Bank report, 'a resumption of China’s exports and lower-than-expected crop prices could contribute to further declines in fertiliser prices'.
Production of the widely used crop nutrient increased by 63.4 lakh tonnes in the last two fiscal years
In line with its goal of eliminating urea imports by 2025, the government is scaling up Nano-Urea production to achieve self-sufficiency in urea production
In an interaction with PTI, the minister noted that the availability of fertilisers is very important for Indian agriculture.
Budget 2024: A number of initiatives, including increasing urea production capacity in the country and making available urea substitutes, are expected to bear fruit and reduce the government’s urea import bill
Price of widely used urea dropped 52.7 percent in June 2023 quarter