Fertiliser price hike
The Ministry of Agriculture has increased the price of chemical fertilisers by cutting the subsidy rate. Urea is a hefty 78% more expensive and will now cost Rs25/kg, up from Rs14. Subsidised diammonium phosphate (DAP) will now cost Rs 50/kg and potash Rs40/kg.
The average chemical fertiliser subsidy is at 59.04%. The ministry cited USD appreciation, and said the savings from subsidy would allow more fertilizer import to meet growing demand which currently stands at 520,000 tonnes annually.