India Approves Fertilizer Subsidy

Posted by Matt Hopkins|19 February 2010

NEW DELHI, India – The government of India has approved nutrient-based fertilizer subsidies, which will go into effect April 1, according to a news release from the Ministry of Fertilizers and Chemicals. The Nutrient Based Subsidy (NBS) will cover nitrogen, phosphorus, potash and sulphur for 2010-11. An additional per-tonne subsidy for subsidized fertilizer with other secondary nutrients and micronutrients in formulations previously approved under Fertilizer
Control Order 1985 is intended to promote balanced fertilization and increase productivity through higher usage of secondary and micronutrients. NBS also encourages the development of innovative new fertilizer products that meet these policy requirements.

While companies can fix retail fertilizer prices under the new NBS policy, the price of urea continues to be controlled under the previously instituted Maximum Retail Price policy. Urea prices will be raised 10% beginning April 1.

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