Fertiliser makers set up body to fix phosphoric acid prices

Fertiliser makers have decided to join hands to check the alleged “unfair trade practices” by global suppliers of phosphoric acid.

The Fertiliser Association of India (FAI) has decided to set up a purchase group to decide the price at which they would buy imported phosphoric acid, a key ingredient for phosphatic fertilisers such as di-ammonium phosphate.

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“This group alone will be competent to decide the price at which the country should buy phosphoric acid in the interest of maintaining the fair prices for Indian farmers,” FAI said in a statement.

India is one of the largest market for the global phosphoric acid makers. Alleging cartelisation, FAI said that major suppliers of phosphoric acid were resorting to unfair trade practices.

“The major suppliers of phosphoric acid led by some of the major players are acting in a manner which is prejudicial to the interest of the Indian farming community,” FAI said.

Further, FAI has urged all those associated in advisory capacity to the suppliers of phosphoric acid to withdraw from such a role. “It has also come to the notice of the industry that some advisory group consisting of Indian nationals are advising the suppliers for keeping the unfair prices,” it said.