Indian Farmers Fertiliser Cooperative(IFFCO), the world's largest fertiliser cooperative federation based in India has said that Phosphoric Acid price should be lowered to USD 600/MT or even less than that.
Speaking further on the Price Negotiations of Phosphoric Acid for Financial Year 2016, IFFCO said currently the price is around USD 715/MT. Suppliers are now selling the DAP at 350/MT or even somewhere less than that.
IFFCO said to its JV partners and suppliers to accept the provisional Phosphoric Acid price of USD 600/MT till price settlement is done from 1st June,16 onwards. Last year IFFCO brought around 0.825 Million MT of Phosphoric Acid at an average price of USD 785/MT.