India signs long-term fertilisers import deal with Saudi Arabia

Reuters

Updated 25 August 2022 at 10:32 am

A farmer prepares to spread fertilizer in his maize field on the outskirts of Ahmedabad

BENGALURU (Reuters) - Indian cooperative Krishak Bharati Cooperative (KRIBHCO) has signed a long-term deal to import one million tonnes of phosphatic fertilisers from Saudi Arabia, Indian fertilisers minister Mansukh Mandaviya tweeted on Thursday.

KRIBHCO will invest in the new phosphate project of Saudi miner, Ma'aden, Mandaviya said. (https://bit.ly/3Kmaztd)

India is signing long-term fertiliser import deals to hedge against international price volatilities.

(Reporting by Nallur Sethuraman in Bengaluru and Nidhi Verma in New Delhi; Editing by Krishna Chandra Eluri)

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