26 June 2008 18:08 [Source: ICIS news]
NEW DELHI (ICIS news)--India will bring two more fertilizers - triple super phosphate (TSP) and ammonium sulphate (AS) - under a subsidy programme for decontrolled fertilizers, the government said on Thursday.
The subsidy mechanism is known as “concession scheme”.
The Cabinet Committee on Economic Affairs (CCEA) decided the inclusion of TSP would enlarge the basket of phosphatic fertilizers. TSP was a cheaper substitute to diammonium phosphate (DAP), which is tight in supply on the global market.
The government said: “This will not only provide access to alternative supply of phosphatic fertilizer but would also lead to savings in subsidy.”
In October 2007, the government had brought mono ammonium phosphate (MAP) under the subsidy scheme to ease demand pressure on DAP. Both TSP and MAP are not produced in the country.
CCEA said it believed the decision to bring AS under the subsidy plan would encourage balanced use of fertilizers by farmers.
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections