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India raises subsidy for phosphate-based fertilizer by 140%-govt
May. 20, 2021
India on Wednesday raised the subsidy for of the crop nutrient diammonium phosphate (DAP) by 140% to bring down retail prices of the fertiliser, the government said in a statement.
The government would provide a subsidy of 1,200 rupees for each 50 kg bag of DAP compared with 500 rupees earlier after prices of the fertiliser jumped in the world market, the government said.
India, which meets most DAP demand through imports, would spend an additional 147.75 billion rupees ($2.02 billion) on the DAP subsidy this year, it said. ($1 = 73.2000 Indian rupees)
Source: Reuters
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