Fertiliser companies will reduce prices further if the government clears their long-pending subsidy dues on time, said Satish Chander, director general of the Fertiliser Association of India.
“We end up paying a lot of interest to the banks. Now, if the subsidies are given to us in time, we will pass on the benefits of saving in the interest cost by reducing the prices of the fertiliser further,” he told BloombergQuint in a phone interview.
The Fertiliser Ministry on Monday announced a cut of up to Rs 5,000 per tonne in retail prices for non-urea fertiliser citing falling feedstock prices globally.
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