Iffco reduces NP fertiliser price by ₹50 to ₹925/bag

Fertiliser cooperative major Iffco on Wednesday announced a reduction in the maximum retail price of NP fertiliser by ₹50 to ₹925 per bag of 50 kg with immediate effect.

This reduction in NP fertiliser, which contains nitrogen and superphosphate, is in line with the declining agriculture input cost to farmers and the Prime Minister's plan of doubling the farmers' income by 2022, it said.

Iffco will keep on reducing prices wherever possible for farmers, it added.

"We are glad to announce the reduction of ₹50/bag in the price of #NP 20:20:0:13 fertilisers across India with immediate effect on all stocks," Iffco Managing Director and CEO U S Awasthi tweeted.

The reduction by ₹1,000 a tonne is done to give support to farmers on sulphur, a key input nutrient for soil, he said.

A few months ago, it had reduced prices of NPK and DAP (Di-Ammonium Phosphate) fertilisers.