Fertiliser shares gain on buzz GoM to discuss urea pricing

National Fertilizers (up 2.95%), Chambal Fertilisers & Chemicals (up 2.13%), Rashtriya Chemicals and Fertilisers (up 1.13%), Zuari Global (up 1.09%), Tata Chemicals (up 0.21%) and Coromadel International (up 0.18%), edged higher.

The BSE Sensex was down 78.46 points, or 0.40% at 19,467.32.

A group of ministers (GoM) headed by agriculture minister Sharad Pawar will reportedly meet for the first time today, 5 June 2013, to discuss a new urea pricing policy for existing producers of the fertilizers.

Others attending the meeting will be finance minister P. Chidambaram, petroleum minister Veerappa Moily, Planning Commission deputy chairman Montek Singh Ahluwalia and minister of state of chemicals and fertilizers U.K. Jena.

Urea is the only fertiliser that is still under control and sold at a government-notified price. The New Pricing Scheme stage III (NPS III), under which subsidies are given to the urea producing units, expired three years ago in March 2010 and is currently running on a temporary basis, media reports suggested.

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