 "Fertiliser stocks jump on hopes of hike in urea prices")
It’s been a long wait but it finally may be here soon. The Cabinet Committee on Economic Affairs (CCEA) may soon hike urea prices by 10 percent as the government moves towards a new policy to replace stage-III of the new pricing scheme (NPS) for existing units, said a report in Hindu Business Line.
The news perked up most fertilizer stocks on the stock exchanges. Tata Chemicals and Zuari Industries were among the top performers in the fertiliser industry as their shares rose by 1.6 and 1.9 percent, respectively. Coromandel and Deepak Fertiliser scrips also gained 0.88 percent and 1.1 percent, respectively.
[caption id=“attachment_257514” align=“alignleft” width=“380” caption=“The fertiliser industry is provided subsidies by the government, which is trying to reduce the level of financial support it provides to the industry. Reuters”]  [/caption]
Under the new pricing policy, urea units may be allowed to hike retail prices by a reasonable amount after the first year based on certain considerations, the newspaper said.
The current price of urea is Rs 5,310 a tonne; up from Rs 4,830 per tonne on 1 April, 2010.
The provisions of stage-III of NPS were originally supposed to be effective until 31 March, 2010; they were subsequently extended until further notice. The new pricing policy proposes to replace stage III (expired) of NPS.
However, not everyone is pleased with the new plan: the Planning Commission has supported a nutrient-based subsidy scheme in place of NPS.
Currently, the fertiliser industry is provided subsidies by the government, which is trying to reduce the level of financial support it provides to the industry. Fertiliser subsidies for the year ending March 2013 have been pegged at Rs 60,974 crore, down from Rs 67,199 crore for the year ended March 2012.
Read the Hindu Business Line article here.
 "Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty")
 "Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched")
 "Who is CP Radhakrishnan, India's next vice-president?")
 "Israel informed US ahead of strikes on Hamas leaders in Doha, says White House")
 "Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty")
 "Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched")
 "Who is CP Radhakrishnan, India's next vice-president?")
 "Israel informed US ahead of strikes on Hamas leaders in Doha, says White House")
](https://images.firstpost.com/wp-content/uploads/2012/03/fertilizer1.jpg){kind=link}