On the occasion of Independence Day, fertilizer company IFFCO (IFFCO) has given gifts to farmers. IFFCO has reduced the prices of DAP and NPK fertilizer by Rs 50 per bag. The farmers will start getting the benefit of this cut from Thursday itself.
IFFCO Managing Director Dr. US Awasthi tweeted and informed about the deduction. He wrote, ‘Prime Minister Narendra Modi has set a target of doubling the income of farmers by the year 2022 and a reduction in fertilizer prices will help achieve this goal.
IFFCO says that prices of fertilizer are constantly reviewed in the interest of farmers. After fresh cutting, the price of DAP fertilizer has been increased to Rs 1250 per bag. While the price of NPK 1 (Nitrogen Phosphate Potassium) has been increased to Rs. 1200 per bag.
So far this year, the price of fertilizer has been cut twice. Two months ago, IFFCO reduced the price of DAP fertilizer from Rs 1400 per bag to Rs 1300. While the price of NPK 1 was increased from Rs 1365 to Rs 1250. At the same time, the price of NPK 2 was reduced from Rs 1375 to Rs 1260 per bag. Which has now been reduced by 50 rupees and 1212 rupees per sack.
Similarly, the price of NP (nitrogen phosphate) was reduced from Rs 1065 to Rs 1000 per bag two months ago, which has now been reduced to Rs 950 per bag. A bag of fertilizer weighs 50 kg.
Through IFFCO, about 35,000 cooperative societies, 5 million farmers of the country are transported all the things related to agriculture. IFFCO had a turnover of Rs 27852 crore in the year 2018-19.