IFFCO cuts retail prices of non-urea fertilisers by up to Rs 50/bag

In a relief to farmers ahead of Rabi season, IFFCO on Friday reduced the retail prices of non-urea fertilisers, including Di-Ammonium Phosphate (DAP), by up to Rs 50 per bag. The prices of these fertilisers per 50 kg bag have been cut amid easing prices of raw materials and manufactured fertilisers globally.

"We have cut the retail prices of DAP and all complexes fertilisers taking into account the softening trend in global prices of raw materials and manufactured fertilisers," IFFCO Managing Director U S Awasthi told PTI. IFFCO has reduced the maximum retail price of DAP to Rs 1,200 per 50 kg bag from the earlier Rs 1,250 a bag, he said.

The price of NPK-I complex has been reduced to Rs 1,175 a bag from Rs 1,200 a bag, while the price of NPK-II complex has been slashed to Rs 1,185 per bag from Rs 1,210 per bag. The price of NP complex has been reduced by Rs 25 to Rs 975 per bag.

The revised retail prices, that includes GST, of these fertilisers, is effective from Friday, Awasthi said. However, the retail price of neem coated urea, which is controlled by the government, remains unchanged at Rs 266.50 per 45 kg bag.

In July, IFFCO had cut the retail prices of DAP and complex fertilisers. Announcing the latest price cuts at the India International Cooperatives Trade Fair here, Awasthi said this would reduce the agri-input cost and help in realising Prime Minister Narendra Modi's plan of doubling farmers income by 2022.

Rabi (Winter) season starts from November. One of the biggest processed fertiliser cooperatives in the world, IFFCO serves more than 5.5 crore farmers in the country. It

contributes to around 36 per cent of phosphatic and 21 per cent of nitrogenous fertilisers produced in India. IFFCO's turnover stood at Rs 27,852 crore in 2018-19 fiscal.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)