India to double fertilizer subsidy fund.

This Tuesday (9), the Ministry of Fertilizers of India requested increase fertilizer subsidy fund for later this fiscal year. The information was published by ReutersThe measure, which would double the budget for the subsidyaims to contain the rise in nitrogen fertilizer prices in the Indian marketThe increase in the price of agricultural inputs occurred after the freeze on Strait of Hormuz, due to the conflict between United States and Iran, which generated a crisis in the logistics chain for product exportsIn the early months of the war, the country's government had also already granted a support of US$12.6 billion to oil refineries and retailersin order to avoid a supply crisis. At the moment, India imports large quantities of urea-based fertilizers and liquefied natural gas.Furthermore, it is the third largest importer of oil, which exposes the country to external crises. According to the report, the India It also wants to maintain investments in agriculture to prepare for the El Niño, which often foreshadows dry in the country.

This text was translated by machine from Brazilian Portuguese.