Despite a spike in prices of fertilizers on the international market, IFFCO has decided not to hike prices of fertilizers at least for the time being. The buzz is other fertiliser companies are raising prices.
The mail that Indian Cooperative sent to Dr U S Awasthi, Managing Directors of IFFCO to find out the veracity of IFFCO’s stand, evoked a positive response from the MD. In his brief reply Dr Awasthi said “This is correct”.
In the past too IFFCO had been trying to protect the farmers from the vagaries of market. A couple of years ago the board of IFFCO unanimously chose to shield the farmer from all possible brunt even if it amounted to writing off substantial sum on its balance sheets. It had to write off nearly Rs 300 crore.
This time again, those keeping watch on fertilizer prices say there is an upward trend visible in prices of fertilizers and this will seriously affect the current agricultural operations across the country. Farmers have already begun sowing crops such as wheat and pulses in fields, add sources.
Experts are quoted saying one of the leading fertilizer companies the Coromandel International Limited has increased the price of DAP by Rs 1000 per tonne and this is bound to have a negative impact on the fertilizer market in the country.
