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Indian Potash Ltd to cut the price of Muriate of Potash

This rate-cut has been done despite substantial weakening of Indian rupee against US Dollar in the last one year and reduction in the government subsidy on MOP by Rs 604 per MT with effect from April 1

New Delhi: Indian Potash Limited (IPL), a PSU under the Department of Fertilizers, Ministry of Chemicals and Fertilizers, on Friday said that it has decided to cut the price of Muriate of Potash (MOP) from the present level of Rs 19,000 per MT to 17,500 per MT. That is a straight reduction of  Rs 75 per bag which will come into effect from May 18.

In a statement, the company said that this cut in price for farmers has been done despite substantial weakening of Indian rupee against US Dollar in the last one year and reduction in the government subsidy on MOP by Rs 604 per MT with effect from April 1.

"Price cut of MOP during COVID-19 period will immensely benefit farmers especially marginal and small scale farmers. Lower input cost will lead to an increase in agricultural output and support income of the farmers."- DV Sadananda Gowda, Union Minister of Chemicals and Fertilizers

Managing Director of IPL, Dr PS Gahlout said we sincerely believe that this step will result in the balanced use of fertilizers which alone is the way forward to subserve the government’s goal of reducing farmers cost on fertilizers and increasing the agriculture output. He further said that the company is always in favour of promoting scientific and judicious use of fertilizers.

Union Minister of Chemicals and Fertilizers DV Sadananda Gowda congratulated Dr PS Gahlout and management of IPL for taking a big step to assist farmers in the ‘need of the hour’. He said "price cut of MOP during COVID-19 period will immensely benefit farmers especially marginal and small scale farmers. Lower input cost will lead to an increase in agricultural output and support income of farmers."

"We sincerely believe that this step will result in the balanced use of fertilizers which alone is the way forward to subserve the government’s goal of reducing farmers cost on fertilizers and increasing the agriculture output, the company is always in favour of promoting scientific and judicious use of fertilizers"-  Dr PS Gahlout, MD, IPL

What is Muriate of Potash?

Muriate of Potash, also known as potassium chloride is essential for plant growth and quality. It plays a vital role in the production of proteins and sugars. It also protects against draught by maintaining plants water content which in turn is a benefit for photosynthesis as leaves maintain their shape and vigour.

Indian Potash Limited (IPL)

Indian Potash Limited (IPL), is a PSU under the Department of Fertilizers, Ministry of Chemicals and Fertilizers. The company was incorporated under the Indian Companies Act with the objective of import-handling, promotion and marketing of potash in the entire country. The extension and promotional activities of IPL was recognised by the farmers across the nation and was well appreciated by the Sivaraman Committee on Fertilizers as well as the National Commission on Agriculture.