No plans to raise prices, says fertiliser body bl-premium-article-image

Our Bureau Updated - March 02, 2012 at 08:40 PM.

The Indian Farmers Fertiliser Co-operative Ltd (IFFCO) said it has no plans to raise prices of fertilisers following the Government's decision to cut subsidies on non-urea complexes.

“We will not increase any retail prices of DAP and complex fertilisers due to lower subsidy, whereas we will try to secure raw material imports at a lower price,” said Dr U.S. Awasthi, Managing Director, IFFCO.

The Government on Thursday announced a cut in nutrient subsidy for non-urea complexes ranging from 10 to 32 per cent a kg for 2012-13 following a decline in global raw material prices and an appreciating rupee. IFFCO is the country's largest manufacturer and marketer of fertilisers.

Meanwhile, IFFCO has set the country's largest zinc sulphate mono-hydrate plant in Kandla. The plant which has a capacity of 30,000 tonnes a year was inaugurated by Dr Awasthi on Thursday.

The output from Kandla plant is expected enhance the availability of zinc sulphate, an important plant micronutrient to the Indian farmers. The usage of such micro-nutrient will help farmers gain higher yield by 20-25 per cent, IFFCO said in a statement.

IFFCO estimates that half of India's soil is deficient in zinc, leading to drop in crop output. Zinc deficiency could be a barrier in achieving the targeted production of rice and wheat in the country, it said.

Published on March 2, 2012 15:10