India lowers 2018/19 subsidy for potash fertiliser by 10 percent

MUMBAI (Reuters) - Indian cabinet on Wednesday slashed subsidies for potash-based fertiliser by more than 10 percent for the next fiscal year beginning April 1, as the world's leading importer of the crop nutrient tries to contain a fiscal deficit.

The reduction in government support could lead to a higher retail price for the farmers and potentially dent consumption and imports.

India has fixed the potash subsidy at 11.124 rupees per kg for 2018-19, down from 12.395 rupees this year, a government statement said

Global producers including Uralkali, Potash Corp of Saskatchewan, Agrium Inc, Mosaic, K+S, Arab Potash and Israel Chemicals are key suppliers to India.

 

(Reporting by Rajendra Jadhav; Editing by Kevin Liffey)