Govt considering subsidy to offset rise in global prices of P&K fertilisers’ raw material

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The Centre on Saturday mentioned it’s considering subsidies to offset rise in global prices of raw supplies of phosphatic and potassic (P&Ok) fertilisers in a bid to guarantee their availability to farmers at subsidised charges throughout the nation. The authorities is taking all vital steps to safeguard the pursuits of farmers throughout the COVID-19 disaster, it mentioned.

Unlike urea, P&Ok fertilisers are decontrolled merchandise. The prices are fastened by the producers and the federal government offers them fastened subsidies annually. For the present fiscal yr, subsidies for P&Ok fertilisers have been saved unchanged.

In an announcement, the Fertiliser Ministry mentioned in the previous few months, the worldwide prices of raw supplies of Di-ammonium

(DAP) and different P&Ok fertilisers have elevated sharply. Prices of completed DAP, and so on in the worldwide market have additionally risen proportionately.

“Despite this sharp increase, DAP prices in India were not increased by the companies till last month. However, some companies have now increased the DAP price,” it mentioned.

However, the federal government is totally delicate to the considerations of farmers and is already taking steps to sort out the scenario in order that the farming neighborhood will be saved from the results of this worth rise of P&Ok fertilisers (together with DAP), it mentioned.

On the pricing entrance of DAP, the federal government has already requested all of the fertiliser corporations to promote their outdated shares of DAP, and so on at outdated prices solely, it mentioned.

“Additionally, the Government of India is also considering the subsidy rates to offset the rise in international prices of raw materials of P&K fertilisers and DAP in order to support the farmers’ cause and lessen the financial burden on them,” the ministry famous.

The authorities is totally conscious of the scenario, and it’s being carefully monitored at a really excessive stage in the federal government, it mentioned. In accordance with its farmer-friendly method, the ministry mentioned the federal government is dedicated to making certain the supply of P&Ok fertilisers to farmers at inexpensive prices, it added.

Fertiliser corporations had raised the retail prices of P&Ok fertilisers like DAP in line with the global market efficient from April 1. But they have been directed not to improve the charges in the meanwhile. PTI LUX

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