Fertilizer stocks zoom after govt approves new crop procurement policy

Rashtriya Chemicals & Fertilizers (RCF) surged as much as 18 per cent to hit a high of Rs 79.85 apiece on the BSE in intra-day trade.

Shares of fertlizer companies rallied up to 18 per cent in intra-day deals on Friday after the govenment approved a new procurement policy on MSP (minimum support prices). Under the policy, one scheme will focus on compensating oilseeds farmers if rates fall below the MSP, and another will allow states to rope in private players for procurement, PTI reported Wednesday citing sources. READ MORE HERE

In Budget 2018, the government had announced that it will put in place a fool-proof mechanism to ensure minimum support price (MSP) to farmers. It had asked think-tank Niti Aayog to suggest a