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Good news for farmers across the country, due to this the prices of DAP and NPK fertilizers may come down

Photo:FILE Farmers

fertilizers in the country Manufacturing companies are planning to import phosphoric acid at a price of $1,000-1,050 a tonne. This is almost 40 per cent lower than the price fixed by global suppliers in the September quarter. Phosphoric acid is used as an important raw material in the production of DAP and other NPK fertilizers. Agriculture sector experts say that DAP and NPK is an important step towards increasing the availability of fertilizers for Indian farmers. With this, it will be available in ensuring the availability of necessary fertilizers at the time of sowing. Also, due to import at cheaper rate, the price will also come down.

prices fell sharply

According to sources, the price of phosphoric acid in the international market at the end of last quarter was $1,715 per tonne. But the international prices of DAP fertilizers declined sharply in the September quarter, following which the price of phosphoric acid is also expected to come down. The international prices of phosphoric acid are determined on a quarterly basis. Its major suppliers include OCP Morocco, JPMC Jordan and Senegal. Sources said a fertilizer company has bought a consignment of phosphoric acid from Senegal at $1,200 a tonne but the price is still high. The country’s leading fertilizer companies are planning to procure it at $1,000-1,050 a tonne in the next quarter. The Ministry of Fertilizers also believes that the price of phosphoric acid should be below $1,100 per tonne in this quarter.

tied up with Agrifields

Last week Madras Fertilizers Limited signed a Memorandum of Understanding (MoU) with Dubai-based Agrifields to import 30,000 tonnes of phosphoric acid annually. With the help of this phosphoric acid, about 1.67 lakh tonnes of NPK fertilizers can be produced. The duration of this MoU is three years. Fertilizers Minister Mansukh Mandaviya, on the sidelines of the handing over of the MoU document, had said that the government is entering into such agreements with global suppliers in view of the excessive dependence on import of minerals and raw materials related to fertilisers. The government provides urea and 25 categories of P&K fertilizers on subsidy to the farmers.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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