India raises urea price by 50 rupees/T- govt spokesman
NEW DELHI Oct 11 (Reuters) - The Indian government raised price of the most used nitrogenous fertiliser urea by 50 rupees per tonne on Thursday, a government spokesman said.
Earlier, urea was priced at 5,310 rupees ($99.9) per tonne.
The government controls urea price and its distribution and pays heavy subsidy to producers to make sure farmers get the crop nutrient at a lower price.
In 2011/12, urea consumption in India stood at 29 million tonnes compared to 28.2 million tonnes a year earlier. India imported 7.83 million tonnes of urea in 2011/12 compared to 6.6 million the previous year. ($1 = 53.1350 Indian rupees) (Reporting by C.K. Nayak) (firstname.lastname@example.org; +91-22-6180-7153; Reuters Messaging: email@example.com)
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