Domestic Fertilizer Prices Soften, DAP Price Down 6.7% On Year

Union Minister of Chemicals and Fertilizers DV Sadananda Gowda has said that the Department of Fertilizers, Ministry of Chemicals and Fertilizers has initiated thorough scrutiny of the cost of production / imports in the country for all fertilizers under the Nutrient Based Subsidy (NBS) Scheme. Due to this initiative of effective monitoring system by the Department, Shri Gowda informed that the fertilizer companies have now adopted a voluntary self-regulatory mechanism and as such the benefit of price drop in the international market of Regasified Liquefied Natural Gas - RLNG has been passed on to the farmers by the manufacturing companies.

Gowda further informed that during August 2020, the Diammonium phosphate or DAP prices have come down to Rs. 24626 per MT as compared to Rs. 26396 per MT during August 2019, down 6.70%. Similarly, out of 18 NPK fertilizer formulations, the MRP for 15 formulations has decreased during August 2020 as compared to the MRP prevailing in August 2019. Price of Ammonium Sulphate has decreased from Rs. 13213 per MT in August 2019 to Rs. 13149 per MT in August 2020.

Powered by Capital Market - Live News