The authorities has advised fertiliser firms that they can not enhance worth of fertilisers, minister of state for chemical and fertilizers stated on Friday after reviews that some firms raised fertilizer costs owing to increased di-ammonium phosphate costs.
“It has been decided that in the present circumstances there shall be no immediate increase in prices of fertilisers,” Mansukh Mandaviya, minister of state for chemical and fertilizers, stated in an announcement after a gathering with producers.
Reports advised that fertiliser firms this week raised costs by greater than a 3rd after of potash and phosphate costs jumped within the world market.
Shares of Deepak Fertilisers fell 3.63 per cent, Rama Phosphates declined 2.73 per cent, Rashtriya Chemicals and Fertilisers declined 3 per cent and SPIC fell 3.3 per cent.
