Non- urea fertilizers prices slashed

Union Minister Ananth Kumar said that the retail prices of non-urea fertilizers including the DAP have been reduced by up to Rs 5000 per tonne.

 The Dollar Business Bureau

Union Minister Ananth Kumar said that the retail prices of non-urea fertilizers including the DAP have been reduced by up to Rs 5000 per tonne. The decision comes following the global prices of raw materials.

The minister said that the state-run fertiliser firms Rashtriya Chemicals and Fertilizers (RCF), National Fertilizers Ltd (NFL) and also private firm Indian Potash Ltd (IPL) have decided to reduce the cost of non-urea fertilizer.

The retail price of Muriate of Potash (MoP) has been brought down by Rs 5,000 to Rs 11,000/tonne, Di-ammonium Phosphate (DAP) by Rs 2,500 to Rs 22,000/tonne, while complex fertilizers rates have been brought down by Rs 1,000/tonne.

The effective DAP for a bag of 50 Kg will fall to Rs 150, Mop Rs 250 and other NPK fertilizers by Rs 100.

Kumar said, “The Fertiliser Ministry has taken a path-breaking decision. We have decided to bring down prices of DAP by Rs 2,500/tonne, MoP by Rs 5,000/tonne and NPK fertilisers by Rs 1,000/tonne taking into account the fall in international prices of raw materials.”

He also added that the rate cut was brought in effect immediately which will entail a benefit of Rs 4,500 crore to the farmers.

Another point to be noted is that the price of non-urea fertilizers has been reduced for the first time.

Kumar also emphasized that, “All our efforts have been made to ensure that there will not be any shortage of fertilizers in our country for this Kharif season and farmers can plan their sowing without any apprehension on this account.”

The domestic demand of MoP is 25 lakh tonnes, DAP is 100 lakh tonnes and NPK fertilizer 90 lakh tones on an average level.

Kumar also said that the country has been experiencing good rains, and the government expects a bumper output this year.

The Dollar Business Bureau - Jul 05, 2016 12:00 IST
 
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