World News | India Signs MoU with Russia for Di-ammonium Phosphate Fertiliser Supply

New Delhi [India], October 12 (ANI): To stablise prices of Di-ammonium Phosphate (DAP) fertiliser and reduce dependency on the countries like Jordan, Morroco, China, etc, India on Tuesday signed a long-term Memorandum of Understanding (MoU) with Russia on DAP fertiliser supply.

As per the sources, the MOU has been signed to ensure the availability of DAP at stable prices and to reduce dependency on the countries like Jordan, Morroco, China, etc.

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The sources from the Chemical & Fertilisers Ministry also divulged that India has explored other sources for procuring DAP.

The Government of India will not increase any subsidy in DAP and all phosphatic fertilisers, informed the sources on Friday.

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Union Chemical & Fertiliser Minister Mansukh Mandaviya directed all companies not to increase MRPs of such fertilisers, added the sources.

India won't tolerate cartels and will not allow any increase in phosphatic acid prices beyond USD 1200, they informed.

Recently, the government has increased the subsidy to 140 per cent on DAP fertiliser in order to retain the selling price for farmers at the current level.

Moreover, the international prices of phosphoric acid, ammonia etc. used in DAP have gone up by 60 per cent to 70 per cent. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)