Home >Companies >News >IFFCO to sell old stock of non-urea fertiliser at earlier rates

NEW DELHI : Cooperative IFFCO on Thursday said it will continue to sell the old stock of about 11.26 lakh tonnes of non-urea fertilisers at old retail rates and the fresh stock with new price tag is not for sale to farmers.

Currently, IFFCO is selling di-ammonium phosphate (DAP), the most widely consumed fetiliser after urea, at 1,200/bag of 50kg. Other complex fertilisers are sold in the range of 925-1,185/bag.

Retail prices of non-urea fertilisers such as DAP, MoP and NPK are decontrolled and are determined by manufacturers, while the Centre gives them fixed subsidy each year.

Some of the private fertiliser companies have revised upward retail prices of complex fertilisers, which are non-urea fertilisers in view of rising global prices of raw materials.

"IFFCO will continue to sell the old stock of 11.26 lakh tonnes of complex fertiliser at old rates only, where DAP is 1,200/ per bag. The material with new rates is not for sale to farmers," IFFCO spokesperson said in a statement.

The new stock has been sent from plants to fields for storage purpose. "The selling price of the same might come down while the old stock is finished," he said.

"Tentative DAP/NPK cost printed on bags now moved from plants in April 2021 is based on the current raw material prices to be applicable on fresh stocks only," he added.

The spokesperson also said that "aggressive negotiations with international raw material suppliers for price reduction are yet inconclusive. We are trying our best to get the prices reduced for the benefit of farmer."

Commenting on the prices, IFFCO CEO and Managing Director US Awasthi tweeted: We at #IFFCO, take strong objection for tweets, news linking any political party or Govt for an increase in price of complex fertilisers. They are decontrolled. No linkage to any political party or government."

He said that IFFCO, as a manufacturing unit, had to print the cost on the bags for dispatch of new material by the plants. "Price mentioned in the letter is only tentative cost to be mentioned on bags which is a mandatory requirement," he said.

Awasthi said IFFCO will ensure that there is enough material with old rates. "I have instructed our marketing team to sell only previously packed material with old rates to farmers. We always take decisions on farmer’s first approach," he added.

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