IFFCO reduces NP fertiliser price by Rs 50 to Rs 925 per bag

New Delhi: India's largest multi-state cooperative society of fertilizers sector, IFFCO (Indian Farmers Fertiliser Cooperative) on Wednesday announced a reduction of Rs 50 per bag in the price of NP 20:20:0:13 Ammonium Phosphate Sulphate Fertilisers across India with immediate effect on all stocks. According to  IFFCO, the reduction of Rs 50/- per bag on NP fertilizers is in line with the declining agriculture input cost to farmers and the Prime Minister's plan of doubling the farmers' income by 2022.

According to a statement by IFFCO, the cost of Sulphur has been reduced by Rs 1,000 per tonne as support to farmers. Sulphur is a key input nutrient for the soil. This nutrient is very important for all types of oilseeds crops. It improves the quality of the crops and also helps in the good growth of the plants. The cost-reduction on Sulphur is immediately being transferred to farmers as a relief in the price of NP.

IFFCO's Managing Director & CEO Dr US Awasthi tweeted, "We are glad to announce the reduction of Rs 50/bag in the price of #NP 20:20:0:13 fertilisers across India with immediate effect on all stocks."

"IFFCO will keep on reducing prices wherever possible for farmers. Recently in September IFFCO also announced that they will not increase any cost of DAP & NPK fertiliser in this Rabi season for the farmers," IFFCO added.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)