India to provide additional subsidy for phosphate-based fertilizer-govt

Date:10-14-2021

India on Tuesday approved an additional subsidy of 57.16 billion rupees ($757.79 million) for the crop nutrient diammonium phosphate (DAP) to ensure retail prices for farmers remain under check despite a rally in global prices, the government said in a statement.

India is the one of the world's leading importer of phosphate-based fertilizers.

New Delhi in May raised the subsidy by 140% for the 2021/22 financial year started on March 1 but phosphate price have risen sharply in the past few months, putting pressure on local fertilizer makers to raise retail prices for farmers.

($1 = 75.4300 Indian rupees)

Reporting by Rajendra Jadhav