India tells fertiliser companies not to raise prices

FILE PHOTO: A farmer sprinkles fertilizer on a paddy field on the outskirts of Ahmedabad, India, January 31, 2020. Picture taken January 31, 2020. REUTERS/Amit Dave/File photo

MUMBAI (Reuters) - The Indian government has told fertiliser producers they cannot make immediate price increases, a junior minister said on Friday after some companies raised prices this week.

“It has been decided that in the present circumstances there shall be no immediate increase in prices of fertilisers,” Mansukh Mandaviya, the junior minister responsible for chemicals and fertilisers, said in a statement after a meeting with producers.

Fertiliser companies this week raised prices by more than a third after of potash and phosphate prices jumped in the global market.

Reporting by Rajendra Jadhav and Rupam Jain; Editing by David Goodman