March 2, 2012
India cuts fertiliser subsidies
The Indian government on Thursday (Mar 1) reduced subsidies on phosphate and potassium fertilisers due to declines in import prices.
The government cut the subsidies for phosphate and potassium fertilisers by more than 20%, effective April 1, to INR21.80 (US$0.002) a kilogramme and INR24 (US$0.003) a kilogramme, respectively, the government said.
India imports most of its fertiliser. It is the world's largest fertiliser importer.
The government reimburses state-run companies for selling fertiliser to farmers at below import costs.