In what could be minor relief to the distressed farming community across the country, the Indian Farmers Fertilisers Co-operative Ltd (IFFCO) has reduced the retail prices of the non-urea nutrients such as di-ammonium phosphate (DAP) and NP, NPK complexes by 6-8 per cent.
The price cut is influenced by the availability of ample stocks in the market and a softening trend in global prices of raw materials and manufactured fertilisers.
While IFFCO, the largest player in the fertiliser sector, has taken lead in reducing the prices, other private players are likely to follow suit.
IFFCO has reduced the retail price of DAP by about 7.1 per cent, or ₹100 per 50 kg bag to ₹1,300, from the earlier ₹1,400 a bag.
The price of NPK-I complex (10-26-26) has been cut by 8.42 per cent, or ₹115 per 50 kg bag, to ₹1,250 from the earlier ₹1,365.
The price of NPK-II complex (12-32-16) has been slashed by 8.36 per cent, or ₹115 per bag, to ₹1,260 from the earlier ₹1,375 per bag.
The price of NP complex (20-20-0-13) has been reduced by ₹65 per bag, or 6.1 per cent. The new retail price of NP complex is now ₹1,000 per 50 kg bag, from the earlier ₹1,065 per bag.
The new retail prices of complex fertilisers, that includes GST, have come into effect from July 10, 2019. However, the retail price of neem coated urea, which is controlled by the government, continues to remain steady at ₹266.50 per 45 kg bag.