Indian manufacturers are producing urea at $350-400/tonne against current global price of $1,000/ tonne, said Fertiliser Association of India.
However, the subsidy may exceed ₹1.3 lakh crore in current fiscal, against the budget estimate of ₹80,000 crore, FAI Chairman K S Raju said at the association annual event. He underscored the importance of self sufficiency in domestic production even if raw material is imported for some fertilisers like DAP and MoP.
The average production cost of urea in old plant is about $350/tonne and in new plant is $400/tonne in India, said Satish Chander, Director General of FAI.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.