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2008-07-02 10:45:00 |
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India to seek Russia's help for potash, phosphates
By Swati Deb
NEW DELHI: To tide over the shortage of phosphates and potash, Union Government is likely to enlist Russian cooperation. Sources revealed here that the Planning Commission has already favoured such a tie up with Russia though the official stance is clear that country has enough urea production.
Toeing the international line in emerging markets that phosphate and potash are like the 'new uranium', the Government has understood the fact that these two are minerals that are going to be even more highly sought-after in years to come.
"Building a good stock is thus all the more in our priority," a senior official at the Planning Commission told Commodity.Online. Curiously, as industrilization and rapid growth graph only ensure northbound movement in electricity use graph, there's surge in nuclear power stations. The demands for Potash and phosphate are only likely to rise not only in India but also in countries like China, they said.
The Centre has already decided that the indigenous di-ammonium phosphate (DAP) will be treated at par with imported.The move will bring pricing of some of the indigenous fertilisers atpar with the global ones, the source said.
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| FOREX Reports |
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Aussie ends lower again |
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The Aussie closed trading weaker Wednesday as another lackluster day on Wall Street weighed on risk sentiment.
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Yen keeps rising |
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Japanese yen continued gains Wednesday as investors turned risk-averse after shares in Asia fell on fears that the credit crunch would lead to a sharp slowdown in the global economy.
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Pound sterling recovers against dollar |
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Pound sterling continued its recovery Tuesday as traders welcomed the UK government's plan to inject 37 billion pounds into the country's ailing banks.
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