India to Provide Additional Subsidy for Phosphate-Based Fertilizer-Govt

A farmer prepares to spread fertilizer in his maize field on the outskirts of Ahmedabad, India, December 21, 2017. REUTERS/Amit Dave

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 one of the world's leading importers 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 prices 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)

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