Ministry scrutinizing cost of production/imports of all fertilizers
The Department of Fertilizers under the 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.
Union Minister of Chemicals and Fertilizers Sadananda Gowda said that due to the effective monitoring system by the Department, the fertilizer companies have now adopted a voluntary self-regulatory mechanism.
The benefit of decreasing prices of Regasified Liquefied Natural Gas – RLNG in the international market has been passed on to the farmers by the manufacturing companies. Gowda added that during August 2020, DAP prices have come down to Rs. 24626 per MT as compared to Rs. 26396 per MT during August 2019.
Similarly, out of 18 Nitrogen, Phosphorus, and Potassium (NPK) fertilizer formulations, the Maximum Retail Price (MRP) for 15 formulations has decreased during August 2020 as compared to the MRP prevalent 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.
