Rupee slide impacts agricultural trade

THE UNION Cabinet on January 1, 2025, approved the extension of a subsidy package of ₹3,500 per tonne on di-ammonium phosphate (DAP) for companies.

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This subsidy was set to expire on December 31, 2024, but was extended amid a fall in the value of the Indian currency against the US dollar-from ₹83.56 in mid-September 2024 to ₹85.78 in early January 2025-and a global rise in DAP prices. The ₹3,500 is in addition to the ₹21,911 for DAP under the Nutrient-Based Subsidy scheme. With DAP's market price at ₹27,000 per