India lowers 2018/19 subsidy for potash fertiliser by 10 percent
Indian cabinet on Wednesday slashed subsidies for potash-based fertiliser by more than 10 percent for the next fiscal year beginning April 1, as the world`s leading importer of the crop nutrient tries to contain a fiscal deficit.
The reduction in government support could lead to a higher retail price for the farmers and potentially dent consumption and imports.
India has fixed the potash subsidy at 11.124 rupees per kg for 2018-19, down from 12.395 rupees this year, a government statement said
Global producers including Uralkali, Potash Corp of Saskatchewan, Agrium Inc, Mosaic, K S, Arab Potash and Israel Chemicals are key suppliers to India.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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