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India raises urea price by 50 rupees/T- govt spokesman

Source : REUTERS
Last Updated: Thu, Oct 11, 2012 18:52 hrs

NEW DELHI, Oct 11 (Reuters) - The Indian government raised price of the most used nitrogenous fertiliser urea by 50 rupees per tonne on Thursday, a government spokesman said.

Earlier, urea was priced at 5,310 rupees ($99.9) per tonne.

The government controls urea price and its distribution and pays heavy subsidy to producers to make sure farmers get the crop nutrient at a lower price.

In 2011/12, urea consumption in India stood at 29 million tonnes compared to 28.2 million tonnes a year earlier. India imported 7.83 million tonnes of urea in 2011/12 compared to 6.6 million the previous year. ($1 = 53.1350 Indian rupees) (Reporting by C.K. Nayak) (rajendra.jadhav@thomsonreuters.com; +91-22-6180-7153; Reuters Messaging: rajendra.jadhav.reuters.com@reuters.net)



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