To preclude the possibility of a retail price increase, the Centre on Wednesday extended the additional subsidy on di-ammonium phosphate (DAP) beyond December 31, 2024 – a move that will enable fertiliser companies to maintain the current price levels at ₹1,350 per 50-kg bag.
The extension will impose on the exchequer an additional burden of up to ₹3,850 crore.
Sources said in the absence of the extension, fertiliser companies were planning to increase DAP rates by at least ₹200 per bag to compensate for the under-recoveries due to the increased cost of imports.
DAP is the most consumed fertiliser in the country after urea.
Prime Minister Narendra Modi on Wednesday said that the government's first Cabinet decision in the new year is dedicated to farmers.
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