Leading fertiliser cooperative IFFCO on Friday reduced the retail prices of its complex fertilisers including di-ammonium phosphate by Rs 50 per bag, amid easing raw materials and manufactured fertilisers prices globally.
"We have cut the retail prices of DAP and all complexes fertilisers taking into account the softening trend in global prices of raw materials and manufactured fertilisers," IFFCO Managing Director US Awasthi said.
IFFCO has reduced the maximum retail price of DAP to Rs 1,200 per 50 kg bag from the earlier Rs 1,250 a bag, he said. The price of NPK-I complex has been reduced to Rs 1,175 a bag from Rs Rs 1,200 a bag, while the price of NPK-II complex has been slashed to Rs 1,185 per bag from Rs 1,210 per bag.
The price of NP complex has been reduced by Rs 50 to Rs 975 per bag. The new retail prices of DAP and complex fertilisers, that includes GST, have come into effect from Oct.11, Awasthi added.
However, the retail price of neem-coated urea, which is controlled by the government, continues to remain steady at Rs 266.50 per 45 kg bag. IFFCO had last cut the retail prices of DAP and complex fertilisers in July this year.
IFFCO contributes to around 36 percent of Phosphatic and 21 percent of Nitrogenous fertilisers produced in India.
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