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Policy● Neutral for Indian equities
India’s fertiliser subsidy may exceed ₹3 lakh crore in the current fiscal
The brief
- Fertiliser subsidy may exceed ₹3 lakh crore in the current fiscal
- The Centre has asked states to prevent over-application of nutrients
- The subsidy outlook matters to Indian fertiliser companies and the government’s fiscal position
- Fertiliser inventories hit two-year high at start of 2026-27 rabi season
- Rabi 2026 target set at 178 MT as Centre steps up preparedness for El Nino, crop losses
- CIL, HURL sign pact to explore syngas-based urea production in Jharkhand
- Jaishankar Warns Of 'Major Food Crisis' In Coming Months Amid Disrupted Grain Shipments, Fertilizers Shortage, Super El Nino
- Nirmala Sitharaman, Jordan minister discuss cooperation in trade, fertilisers
India’s fertiliser supply, demand and subsidy pressures
Sulphur prices doubled to about $1,050–1,100 a tonne since January, while urea imports more than doubled to 4.75 mt in April–August. Rabi 2026–27 fertiliser demand may reach nearly 350 lakh tonnes, and the subsidy bill may exceed ₹3 lakh crore this fiscal.
Tuesday, 29 September
- India’s fertiliser subsidy may exceed ₹3 lakh crore in the current fiscal