According to a recent India Meteorological Department (IMD) release, India recorded 45.6 mm of rainfall by June 20 against the seasonal normal of 84.4 mm, resulting in a 46 per cent shortfall.
Fertiliser stocks are in high demand today after reports said that a surge in global fertiliser prices is likely to double the fertiliser subsidy bill from the Budget estimate of ₹1.7 trillion.
India is the world's second-largest fertiliser consumer after China and depends heavily on imports of both raw materials and finished products
The government has approved a ₹41,534 crore subsidy for Phosphatic and Potassic (P&K) fertilisers for the upcoming 2025-26 kharif season.
US-Iran war impact: West Asian nations are key suppliers of major fertilisers as well as raw materials for fertiliser manufacturing like sulphur, ammonia etc.