Urea prices have plunged; so why is fertilizer subsidy bill under strain?
New Delhi, Aug. 31 -- India may face pressure on its massive fertilizer subsidy bill this year, as a price spike in one category of soil nutrients outweighs a decline in another.
While the global prices of urea, the country's most common fertilizer, have declined from last year, di-ammonium phosphate (DAP), muriate of potash (MOP) and complex fertilizers have jumped, a Mint review of fertilizer department data showed. Since India relies heavily on imports to meet local fertilizer demand, and sells them to farmers at subsidized prices, price changes immediately reflect in its overall subsidy bill.
While the price of imported urea has fallen 5.89% from last July's $475 per tonne to $447 now, DAP is up 15.37% to $931 per tonne, MOP is up 9...
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