Saturday, 30 April 2022

The prices of fertilizers increased in the international market

Urea rates

In order to give relief to Indian farmers from the rising prices of fertilizers in the international market, the central government may increase the subsidy budget. According to information received from highly placed sources of the Center, a cabinet proposal to this effect is under consideration with the Finance Ministry. It is likely that in the upcoming meeting of the Union Cabinet, P&K. of increased subsidy may be considered.

The grant allocated for urea in 2022-23 is Rs.67 thousand 187 crore. 1 lakh 20 thousand crores by increasing it to Rs. can be done. Similarly, the grant on P&K Fertilizer has been increased from 21 thousand crores to 60 thousand crores. can be done. This increase will be for Kharif season. The amount allocated in the total fertilizer subsidy budget in the year 2022-23 is Rs.1 lakh 9 thousand crore, 2 lakh 46 thousand crores increased.

It is worth mentioning that in the Kharif conference held recently, Secretary Fertilizers Shri RK. Chaturvedi had said that there is no shortage of fertilizers for the upcoming Kharif. The government will soon announce a revised subsidy for non-urea fertilizers in the current financial year in view of the increased prices of fertilizers globally.

He said that the total fertilizer requirement for the Kharif season of 2022 is estimated to be 354.34 lakh tonnes. Whereas a total of 485.59 lakh tonnes of fertilizer is available domestically, out of which 104.72 lakh tonnes is imported fertilizer and 254.79 lakh tonnes is domestically produced. The availability of urea for Kharif season is 256.22 lakh tonnes whereas the requirement is 179 lakh tonnes.

The Fertilizer Secretary said that there is 81.42 lakh tonnes of Diammonium Phosphate (DAP) in the domestic stock, while the requirement is only 58.82 lakh tonnes. A total of 104.72 lakh tonnes of fertilizers are estimated to be imported for Kharif season requirements. This will include 40 lakh urea, 29 lakh DAP, 23.18 lakh MOP and 13.22 lakh tonnes of SSP.

Shri Chaturvedi said that a decision on the proposal of nutrient-based fertilizer subsidy will be taken in the meeting of the cabinet, which will be considered effective from April 1. The price of urea has been increased by 145 %  while there has been an increase of 66 % in DAP, 116 % in MOP, 102 per cent in Sulfur, 134 per cent in Phosphate Acid and 77 per cent in Rock Phosphate during the last year in the international market.

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