The world’s largest processed fertilizer cooperative, IFFCO (Indian Farmers Fertiliser Cooperative Limited), has announced that it will not increase the maximum retail price of its DAP, NPK and NPS fertilizers.
IFFCO in an official statement said, “We at IFFCO reiterate that the price of DAP (18 : 46 : 0) is Rs 1200, NPK (10 : 26 : 26) is Rs 1175, NPK (12 : 32 : 16) is Rs 1185 and NPS (20 : 20 : 0 : 13) is Rs 925 per bag of fertilizer. We are always committed to serve the farmers and our aim is to reduce agricultural input cost to farmers.”
“In the last Rabi season also, IFFCO did not increase any prices for the complex fertilizers. This is in line with Prime Minister Narendra Modi’s plan of doubling the farmers’ income by 2022. A huge spike has been reported in the cost of raw materials in the international market but IFFCO’s commitment for farmers’ service will remain intact,” it added.
IFFCO has five manufacturing plants in India. It is the largest fertilizer player in the country. It has also diversified into general insurance, rural telecom, rural retail, agrochemicals, food processing and organic sectors. It has played an important role in empowering the Indian farmers by providing them with world-class soil nutrients and agri-services over the past 54 years.
IFFCO contributes to around 32.1 per cent of Phosphatic and 21.3 per cent of Nitrogenous fertilizers produced in India. It was also ranked first amongst the top three hundred Cooperatives in the world (by turnover on GDP per capita basis) by the World Cooperative Monitor Report. The cooperative even moved to the 57th position in the Fortune 500 list of companies.