In order to have a check on fertiliser prices, Department of Fertilizers, Ministry of Chemicals and Fertilizers, Government of India has initiated thorough scrutiny of the cost of production and imports in the country for all fertilisers under the Nutrient Based Subsidy (NBS) scheme, Union Minister of Chemicals and Fertilizers, DV Sadananda Gowda has said today.
Due to this initiative of effective monitoring system, Gowda informed that the fertiliser 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.
RLNG is used as feedstock for production of Potassium and Phosphorous (P&K) fertilisers by the manufacturing companies of Diammonium Phosphate (DAP), Ammonium Sulphate and other P&K fertilisers.
Gowda further informed that in August 2020, DAP prices have come down to Rs. 24,626 per MT as compared to Rs. 26,396 per MT during August 2019. Similarly, out of 18 NPK fertiliser formulations, the MRP for 15 formulations has decreased in August 2020 as compared to the MRP prevailing in August 2019. Price of Ammonium Sulphate has decreased from Rs.13,213 per MT in August 2019 to Rs. 13,149 per MT in August 2020.
Department of Fertilizers is taking efforts towards providing fertiliers at reasonable prices to the farmer of the country at the right time.