After Diesel, Fertilizer prices rise sharply, IFFCO increases DAP price by 58%

After the inflation of petrol and diesel, now the problems of farmers have increased due to the cost of fertilizers being expensive. Indian Farmers Fertilizer Co-operative (IFFCO), the largest fertilizer seller company in the country, IFFCO raised the price of 50 kg sack of fertilizer diammonium phosphate (DAP), the most used fertilizer after urea, from Rs 1200 to Rs 1900. is. In this way, it has increased by 58 percent. IFFCO has not only increased the price of potash but it has also increased the prices of all fertilizers containing NPKS (nitrogen, phosphorus, potash, and sulfur).

Food inflation is expected to increase

Due to the increase in the prices of fertilizers, the possibility of increasing agricultural costs has increased considerably. This will definitely increase inflation. Therefore, it will also be difficult for the RBI to cut interest rates. It may become a big hurdle in the direction of recovery of the economy that has been hit by the corona infection. Due to this, the demand for increasing the minimum support price i.e. MSP from the farmers can also be intensified. Because the farmers can demand to increase the MSP due to the increased cost of farming.

DAP’s tremendous demand will increase in the Kharif season

IFFCO officials say that this situation has arisen due to the rise in the price of phosphoric acid and rock phosphate used in DAP in the international market. It says that its availability in the country is quite low. Therefore, both these products are sourced from outside. The demand for DAP will increase greatly once the sowing of Kharif starts. In UP itself, the target supply of DAP during the Kharif season is an average of 1.2 million tonnes.