‘There is no shortage of fertilizer across country’: Govt

'There is no shortage of fertilizer across country': Govt
'There is no shortage of fertilizer across country': Govt

New Delhi, Nov 24 | Noting that management of fertilizer requirements of the farmers and agriculture sector was the collective responsibility of the Centre and the states, Union Minister of Chemicals and Fertilizer, Mansukh Mandaviya on Tuesday assured, “There is ample production of fertilizer and no shortage across the country.”

He also warned the states to monitor pilferage to non-agriculture usage.

Virtually reviewing the status of fertilizer availability across the country with state agriculture ministers, Mandaviya informed the state ministers of the ‘Fertilizer Dashboard’ that has been operational for the past about two months, and also about the ‘Control Room’, which has been working 24X7 for effective coordination between the states and the Centre.

“This was done to ensure adequate fertilizer availability in various districts. I urge the states to monitor requirement/supply on a daily basis on the ‘Fertilizer Dashboard’ for more effective and productive fertilizer management,” the Union Minister told the meeting attended by Agriculture Ministers from 18 states, a release from the Ministry said.

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Mandaviya expressed gratitude towards the states for collaborative efforts during the past few months to tide over the enhanced demand from farmers for DAP.

The state Agriculture Ministers thanked the Union Minister for fulfilling their fertilizer requirement during the past few months when demand for DAP had risen across many states, the release said.

“It is important to plan in advance and assess the district-wise requirement on a weekly basis. There is an ample quantity of balance and unutilized fertilizer in various districts. Daily regular monitoring will inform us in advance for better management. The Centre has been supplying fertilizer to the states without any delay based on the requirement indicated by them,” he stated.

The Union Minister also warned that it is important for the states to aggressively prevent any diversion of Urea to industry (such as veneer, plywood, etc.) to ensure adequate availability for the agriculture sector. He informed that as a result of aggressive and effective monitoring by the state administration, the movement of fertilizer across the borders from Uttar Pradesh and Bihar has been prevented.

“It is important for states to monitor that supply to farmers is not diverted to other sectors, thereby leading to a false shortage,” he exhorted the states.

He also urged the states for enhancing awareness and motivating the farmers for judicious use of fertilizer and reduction of wastage and misuse.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.


Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.

In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.

Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India


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