Fertilizer stocks in demand

Shares of 8 fertilizer makers rose by 0.10% to 1.74% at 9:37 IST after the government removed the restrictions to production of neem-coated urea.

Chambal Fertilisers & Chemicals (up 1.74%), Rashtriya Chemicals and Fertilisers (up 1.56%), Tata Chemicals (up 1.29%), Deepak Fertilisers & Petrochemicals Corporation (up 1.20%), National Fertilisers (up 1.06%), Gujarat State Fertilizers Company (up 0.73%), Coromandel Fertilizers (up 0.15%) and Zuari Industries (up 0.10%), edged higher.

The S&P BSE Sensex was up 216.26 points, or 0.80% at 27,125.08.

Minister of Chemicals and Fertilizers Ananth Kumar yesterday, 7 January 2015, said that the government has removed the restrictions to production of neem-coated urea.

Addressing a press conference, Kumar said that using Neem coated urea will not only increase crop yields but also lower input cost to farmers. He said it will also reduce imports of precious fertilizers as well as reduce ground and soil pollution. He said that Neem coated urea is costly by 5% compared to plain prilled urea but it reduces nitrogen loss by more than 10%, thereby incurring a net savings of Rs 13.5 per bag for farmers. Due to higher nitrogen use efficiency, the use of nitrogen coated urea can also eliminate import of urea resulting in huge foreign exchange savings for the country.

Powered by Capital Market - Live News