On the occasion of 73rd Independence Day, IFFCO gave a big gift to farmers in India. The Fertilizer major announced reduction in the rates of its complex fertilisers that includes DAP, by Rs 50 / bag as part of efforts to bring down growers’ input cost. The new rate cut will be applicable from 15th August 2019.
According to IFFCO’s officials, this latest move will definitely help in fulfilling Prime Minister Narendra Modi’s dream of doubling farmers’ income by 2022 by cutting the agri input cost.
The new rate of DAP or di-ammonium phosphate has been decreased to Rs 1,250 / bag (of 50 kg) from the previous Rs 1,300. Likewise, the price of NPK I has come down to Rs 1,200 from Rs 1,250 / bag while NPK II rate has been reduced to Rs 1,210 from Rs 1,260 / bag. The price of NP has been slashed to Rs 950 /bag from Rs 1,000.
Dr. U S Awasthi, MD of IFFCO made the announcement during the Flag hoisting ceremony at its Tamil Nadu State office in Chennai on 15th August 2019.
Dr. Awasthi in his tweet said, “On 73rd #Independence Day, for benefit of farmers, I am pleased to announce further reduction by Rs 50 per bag in the prices of #DAP,#NPK Complex #Fertilisers all over #India. Reducing input agri cost to farmers and in line with PM’s @narendramodi plan of doubling the farmers’ income by 2022.”
He added that the cooperative is working continuously for the growth as well as benefit of farmers to fulfill PM’s goal of increasing farmers' income by the year 2022.
IFFCO Media Head Harshendra Vardhan told media that the company is providing its services to more than 5 crore farmers with over 35000 cooperative societies across India, from Leh-Ladakh to the backwaters of Kerala & from Kutch to Arunachal Pradesh.
This is not the first time that IFFCO has given relief to the Indian farmers. It has cut the price of Urea and non-urea fertilisers from time to time for the benefit of cultivators. In July, IFFCO had reduced the retail cost of DAP by about 7.1%, or Rs 100 / 50 Kg bag.
IFFCO at present is one of the biggest processed fertiliser cooperatives in the globe with a turnover of Rs 27,852 crore in the year 2018-19. It has 5 manufacturing plants and produces 81.49 lakh tonne fertilisers. In addition to fertilisers, IFFCO has expanded into sectors like general insurance, food processing, rural mobile telephony etc.
