The fertiliser cooperative IFFCO has proved to be a messiah of farmers once again by reducing the price of DAP fertilisers by Rs 50 per bag. It is the third reduction in quick succession by IFFCO. The new rate cut is applicable from 11th October 2019.
The new revised prices of DAP fertilisers are Rs 1200/- per bag, NPK – 10:26:26 is Rs 1175/- per bag, NPK- 12:32:16 is Rs 1185/- per bag, NP-20:20:0:13 is Rs 975/- per bag.
The press release from IFFCO reads, “The international prices of the raw materials have taken a downside route and hence IFFCO has decided to pass on this benefit to farmers by reducing the cost”.
This announcement was made by IFFCO MD Dr U S Awasthi on the sidelines of India International Cooperatives Trade Fair currently going on at Trade Fair, New Delhi. Dr Awasthi was felicitated by the govt on the occasion.
This reduction in prices will also help in realizing PM Narendra Modi’s Plan of Doubling the farmers income by 2022 by reducing the Agri-input cost, said Awasthi interacting with media.
Later he wrote on his twitter wall, “To reduce input agri cost to farmers & in line with Hon’ble PM @narendramodi Ji’s plan of doubling the farmers income by 2022, I am glad to share that IFFCO has reduced the rate of complex fertilisers by ?50/bag of DAP Complex Fertilisers all #India”.
Earlier, on the occasion of the 73rd Independence Day, IFFCO reduced the rates of its complex fertilisers by Rs 50 per bag for the benefits of farmers thereby reducing their input cost.
Lapping up the news, several ministers of Federal govt as well as state govts lauded IFFCO and retweeted the announcement. Following the Union Chemical and Fertilizer Minister Sadananda Gowda, the UP Minister Mukut Bihari Verma also tweeted the news. Gowda wrote “IFFCO has reduced the price on DAP and NPK by Rs 1000 per tonne and Rs 50 per Bag. My heartful thanks to @IFFCO for this move. This reduction in price will help the farming community of our country.”
It may not be out of place to mention here that IFFCO is the leading player in the fertiliser market of the country in the cooperative sector and provides its services to more than 5 crore farmers with more than 35000 cooperative societies across the country from Leh-Ladakh to the Backwaters of Kerala and from Kutch to Arunachal Pradesh.
It is also one of the biggest processed fertiliser cooperatives in the world with a turnover of INR 27852 Crore (in FY 2018-19). It has five state of the art fertiliser manufacturing plants in India producing 81.49 Lakh MT of fertilisers.
It also contributes to around 27% of Phosphatic and 20% of Nitrogenous fertilisers produced in India and was ranked first amongst the Top 300 Cooperatives in the world (by Turnover on GDP per capita basis) by the World Cooperative Monitor Report.
With presence in Senegal, Oman, Dubai and Jordan, IFFCO is today a global ‘Indian’ cooperative and is spreading the noble ideals of cooperation and inclusiveness all over the globe. Besides Fertilisers, IFFCO has diversified into sectors like General Insurance, Rural Mobile telephony, farm forestry, international trading, food processing, and organics among others.