Rising global costs of potash could push India to sign costly imports in 2017
The Dollar Business Bureau Rising global demand for potash a widely used fertiliser, could make India sign costly import contracts in 2017 compared to that of last year. Incidentally, in April the government has decided to reduce the subsidies to the farmers thereby reducing the demand of potash in the country. India is one of the top buyers of the crop nutrient and helps set the global benchmark along with China. Its contract prices are keenly watched by other buyers like Indonesia and Malaysia. Recently two of the biggest potash producers, Potash Corp of Saskatchewan and Russia's Uralkali, have tightened the prices of potash by reducing their output. Potash Corp expects global shipments this year to increase to 3 million tonnes compared to that of ...
Bio-fertilizer projects likely to reduce India's fertilizer imports
The Dollar Business Bureau In a move to reduce the dependence on imports and further encourage the domestic fertilizer sector, the Government of India (GoI) mulls to promote the use of bio fertilizers across the country. To this effect, the government has taken various measures for encouraging the farmers, towards usage of bio-fertilizers, informed the Minister of State for Chemicals & Fertilizers, Hansraj Gangaram Ahir, GoI. Under these measures, the government provides financial assistance for establishment of bio-fertilizers production unit as back ended subsidy, at 25% of total financial outlay up to a maximum of Rs 40 lakh, through National Bank for Agriculture and Rural Development (NABARD). Besides this, a financial assistance of 50% of cost will also be ...
