India fertilizer prices surge 65% in June-Nov 2011

NEW DELHI : Due to high global prices and weakening of rupee, the imports of the fertilizers have turned to be costlier. The price of di-ammonium phosphate (DAP) shot up 65% to Rs 18, 500 per ton from Rs 11,000 in June 2011.

The rupee has weakened18% January to November period 2011. The rupee was around Rs 52 against the Dollar on Thursday 24th November.

The Indian Farmers Fertilisers Cooperative Ltd (IFFCO) is negotiating with global fertilizer players for discounts and the some of them have agreed for 5% discounts, reported The Business Line.

According to the IFFCO, there are no plans to hike the Maximum Retail Price (MRP) of the commodity till March 2011.
Earlier, in 2010, the government had de-controlled the price of the non-urea fertilizers by introducing the Nutrient Based Subsidy (NBS).

The DAP and NPK (Nitrogen, phoshorus, potash) are the major fertilizer used in India.