All finance news

Fertiliser consumption likely to rise 10% on higher acreage post bumper rabi harvest

0 147

ReutersThe government is focusing big on the farm sector for economic revival amid a severe Covid-19 crisis, which has once again hit the economy hard.The government expects a steep 10% rise in fertiliser consumption this year as it sees farmers planting more for the next season following a bumper harvest of rabi, or winter-sown, crop.

Sale of farm inputs has already picked momentum with the weather office forecasting a normal monsoon this year. India has seen a normal or above-normal monsoon rains in the last two years.

“For this kharif (summer-sown crop) season, the consumption of fertilisers including urea has been assessed at 35.12 million tonnes as against last year’s assessment of 31.88 million tonnes,” a senior fertiliser ministry official said. “This means the government expects more coverage of crop area as well as production.”

He said the consumption of the most popular crop nutrient, urea, is likely to be 17.75 million tonnes as against last year’s assessment of 16.67 million tonnes.

Source: indiatimes.com

Leave A Reply

Your email address will not be published.