Government imports urea at $289.77 per tonne in April-June period

NEW DELEHI: The government imported urea at an average price of USD 289.77 per tonne during the first quarter of current financial year, 5 per cent less than the average price of last fiscal.

"The weighted average price of urea imported on government account through State Trading Enterprises (STEs) was $303.94 per tonne in 2014-15 as against $289.77 per tonne during 2015-16 (up to June, 2015)," Minister of State for Chemicals and Fertilisers Hansraj Gangaram Ahir said in a written reply to Lok Sabha.

The weighted average price of imported urea during 2014-15 is Rs 18,981 per tonne at an average exchange rate of Rs 62.45 per dollar and the weighted average provisional price of urea produced in the country is Rs 21,817 per tonne for 2014-15.

The selling price of urea is fixed at Rs 5,360 per tonne, and the difference between cost of production and selling price is paid as subsidy to manufacturers.