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IFFCO, other firms hike fertiliser prices citing costlier raw materials
April 08, 2021
× Fertiliser companies have raised the prices of potash and phosphatic nutrients citing higher raw material prices.
Companies such as IFFCO, India Potash Ltd. and Paradeep Phosphates Ltd. have announced a hike or their intention to review prices. Farmers’ organisations have opposed the hike, saying it could increase their input costs and, in turn, lead to inflation.
Though the hike in fertiliser prices could result in higher inputs cost for farmers, it remains to be seen if the Centre will cover the hike in its fertiliser subsidies to the growers. It is likely to announce a nutrient-based subisdy for the current fiscal before sowing for the Kharif season begins. Fertilisers account for the second highest expenditure for farmers after diesel. Fertiliser companies attribute the rising trend in farm nutrient prices to the hardening of raw material prices globally and also due to the availabi
April 08, 2021 Hardening of raw material prices in the international market has prompted fertilizer companies to hike the prices for agri-nutrients in the domestic market.
Announcing its decision to hike the prices of agri inputs including di-ammonium phosphate (DAP) and different varieties of NPK (phosphatic fertilisers), Indian Farmers Fertilisers Cooperative Ltd (IFFCO) stated that the prices of complex fertilisers are decontrolled and linked to fluctuations in the prices of raw materials in the global market.
IFFCO makes DAP and other complex fertilisers at the cooperative’s Kandla and Paradeep plants with combined capacity of 43 lakh tonnes (lt) per annum. The cooperative earns nearly 45 per cent of the total revenue from DAP fertilisers. It has about 26 per cent market share in urea segment, including the imported urea. IFFCO’s Kandla plant is dependent on imported phosphoric acid.