April 9, 2010

Indonesia hikes fertiliser prices

The Indonesian Agriculture Department plans to hike retail prices of fertilisers by an average of 30% as a result of a new regulation.

Agriculture Minister Suswono said the new price will be effective when the Agriculture Regulation (No.32 of 2010) takes effect on April 9 2010.

Initially, the rise was planned by around 50%, but the government finally decided a rise of around 30% after various considerations. Some of the widely-used fertilisers including urea and the nitrogen phosphorus potassium mix which would sell at new prices of IDR1,600 (US$0.18) and IDR2,300 (US$0.25) per kilogram respectively.