Economy

Urea prices up by 10 per cent from April

The Union government on Thursday announced a 10 per cent hike in urea prices. File photo of a farmer spraying urea in the paddy field in Tamil Nadu's Thanjavur district. Photo: M. Srinath

The Union government on Thursday announced a 10 per cent hike in urea prices. File photo of a farmer spraying urea in the paddy field in Tamil Nadu's Thanjavur district. Photo: M. Srinath  

The Union government on Thursday decided to raise the retail price of urea by 10 per cent and allowed manufacturers to fix the rates of DAP and MOP fertilisers.

The decisions, a part of new nutrient-based subsidy (NBS) scheme approved by the Cabinet today, will be effective from April 1, 2010.

At present, the maximum retail price (MRP) of urea is Rs 483 a quintal, while DAP costs Rs 935 a quintal and MOP Rs 445.50 a quintal.

Under NBS, subsidy is given to nutrients (nitrogen, phosphorus, potash and sulphur) contained in the fertiliser. It will also do away with the maximum retail price (MRP).

However, the government will continue to fix the MRP of widely used fertiliser urea.

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Printable version | Feb 18, 2020 12:21:32 AM | https://www.thehindu.com/business/Economy/Urea-prices-up-by-10-per-cent-from-April/article16815498.ece

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