Unless the Indian government increases the per unit subsidy for fertiliser companies, farmers may be paying 5% to 26% more for fertilisers this season due to rupee depreciation and the increase in global prices of phosphate and potash, according to analysts and industry executives. DAP is 8% higher than what farmers paid in the July to October kharif season, at INR1,400 ($103) per 50 kg bag, and MoP may rise 26% to INR880 per 50 kg bag, while NPK may increase by 5-10%, or INR960-INR1,180 per bag, analysts said. India imports 30,000,000 metric tonnes of MoP every year.
Unless the Indian government increases the per unit subsidy for fertiliser companies, farmers may be paying 5% to 26% more for fertilisers this season due to rupee depreciation and the increase in global prices of phosphate and potash, according to analysts and industry executives. DAP is 8% higher than what farmers paid in the July to October kharif season, at INR1,400 ($19.30) per 50 kg bag, and MoP may rise 26% to INR880 per 50 kg bag, while NPK may increase by 5-10%, or INR960-INR1,180 per bag, analysts said. India imports 30,000,000 metric tonnes of MoP every year.