Giving some relief to farmers ahead of Rabi season, leading Fertilizer Cooperative, IFFCO slashed the retail prices of its non-urea fertilisers that includes Di-Ammonium Phosphate (DAP), by up to Rs 50/bag.
The price cut comes amid easing cost of raw materials & manufactured fertilisers worldwide. IFFCO Managing Director, Mr. U S Awasthi said, "We have reduced the retail prices of DAP along with all complexes fertilisers taking into consideration the softening trend in global prices of raw materials & manufactured fertilisers”.
IFFCO has slashed the maximum retail price of DAP to Rs 1,200 / 50 kg bag from the previous Rs 1,250 / bag, Awasthi said.
Meanwhile, the rate of NPK-I complex has been cut to Rs 1,175 / bag from Rs 1,200 and the cost of NPK-II complex has been reduced to Rs 1,185 / bag from Rs 1,210 / bag.
In addition, the price of NP complex has been cut by Rs 25 to Rs 975 / bag.
Awasthi said the revised retail prices including the GST of these fertilisers, is effective from 11 October 2019.
But, the retail price of neem coated urea that is controlled by the Government remains unchanged at Rs 266.50 / 45 kg bag.
It must be noted that IFFCO in the month of July had reduced the retail prices of DAP & complex fertilisers.
While announcing the new price reduction at the India International Cooperatives Trade Fair Awasthi said this will cut the agri-input cost and also help in realising PM Narendra Modi's plan of doubling farmers income by 2022.
Rabi (Winter) season begins next month (November). One of the largest processed fertiliser cooperatives in the world, IFFCO serves over 5.5 crore farmers in India. It also contributes to about 36% of phosphatic & 21% of nitrogenous fertilisers produced in the country. In 2018-19 fiscal, IFFCO's turnover stood at Rs 27,852 crore.
