The retail prices of major fertilisers have lowered by 17% which means farmers have to shell out lesser money for the same this rabi season due to a decrease in the global prices of fertiliser components. Urea prices however, have remained steady.
IFFCO has reduced the maximum retail price of DAP to Rs 1,200 per 50 kg bag from Rs 1,250 a bag.
"Breaking all previous records, the NFL has achieved 27 lakh tonnes of fertiliser sales during the Kharif 2019 (April -September) season, which is 25 per cent higher than the year-ago period," the NFL said in a statement.
In order to augment domestic urea capacity, the government had taken up revival of closed fertilizer units of Fertilizer Corporation of India Ltd.
The National Company Law Tribunal (NCLT) last week approved the merger of Monsanto India Ltd with Bayer CropScience.
The union environment ministry has issued the clearance to the company's proposal after taking into account the recommendations of a panel of experts.
The new law will be in line with the international norms being practised by global leaders.
It is gathered that neighbouring countries like Singapore, Vietnam, Thailand, Philippines are attracting the investment.
Net imports of chemicals and petrochemicals touched a whopping Rs 1.21 lakh crore annually in 2018-19, the official added.
Total subsidy outgo for non-urea fertilisers would be Rs 22,875.5 crore for 2019-20 fiscal, the Information and Broadcasting Minister told reporters after the meeting of the CCEA.
Other decisions: Bill to regulate chit funds cleared; SC judges’ strength up to 33.
India has the advantage of abundance of raw materials i.e. limestone and salt and growing domestic demand that favours the establishment of soda ash plants.
"The short tenor loan carries zero running coupon and is the first such financing raised by the group," UPL said.
Spread over 27,000 square feet (sq.ft.) on a sprawling land area of 8 lakh sq.ft., the R&D Centre entailed an initial investment of Rs 20 crore.
Addressing the conference, the Secretary emphasised on HS coding for all major imported chemicals and petrochemicals in the country.
ICRA also expects a reduction of the import duty on LNG to nil from 2.5% currently, resulting in lowering of the cost of production and the subsidy outgo for the GoI.
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