The government has told fertiliser companies that they cannot increase price of fertilisers, minister of state for chemical and fertilizers said on Friday after reports that some companies raised fertilizer prices owing to higher di-ammonium phosphate prices.
“It has been decided that in the present circumstances there shall be no immediate increase in prices of fertilisers,” Mansukh Mandaviya, minister of state for chemical and fertilizers, said in a statement after a meeting with producers.
Reports suggested that fertiliser companies this week raised prices by more than a third after of potash and phosphate prices jumped in the global market.
Shares of Deepak Fertilisers fell 3.63 per cent, Rama Phosphates declined 2.73 per cent, Rashtriya Chemicals and Fertilisers declined 3 per cent and SPIC fell 3.3 per cent.