Early monsoon to boost fertiliser demand: Officials
New Delhi, May 13 -- The government expects robust fertiliser demand due to an earlier-than-expected and abundant monsoon, an official said after a review on Monday, adding the country will provide additional subsidy to farmers if required for the upcoming kharif or summer-sown season.
Millions of farmers are preparing to plant an array of crops, such as rice, corn, soya and pulses. The summer season accounts for nearly half of the annual food production in the world's most populous country.
According to the India Meteorological Department, monsoon rains are expected to hit India's Southern coast on May 27, five days early, which augurs well for bumper harvests. The rains begin their onset on the coasts of Kerala and typically cover the whole country by mid-July. IMD had last month predicted above-average monsoon rain for the second straight year.
"Early monsoon rains will trigger sowing of crops, especially rice in large swathes. There are sufficient stocks of fertiliser and seeds. Any additional need for subsidies to farmers will be met," a second official who took part in the meet said.
On January 1, the Union Cabinet cleared a fresh tranche of fertiliser subsidy to cushion higher global prices due to geopolitical uncertainties. Then, the government signed off on a proposal to top up the subsidy allocation for di-ammonium phosphate (DAP), a widely used fertiliser, with an additional outlay of Rs.3,850 crore.
Under the NBS policy, the government offers a fixed rate of subsidy on a per kg basis for crop nutrients to shield farmers from high market prices....
To read the full article or to get the complete feed from this publication, please
Contact Us.