Chemical
India Potash to cut price of Muriate of Potash
India Potash has said that this cut in price for farmers has been done despite substantial weakening of Indian rupee against the US dollar in the last one year and reduction in the government subsidy on MOP by Rs. 604 per MT with effect from 1st April 2020.
- By ICN Bureau
| May 16, 2020
India Potash Limited (IPL) has decided to cut the price of Muriate of Potash from the present level of Rs.19,000 per MT to 17,500 per MT i.e a reduction of Rs. 75 per bag with effect from 18th May, 2020.
Muriate of potash also known as potassium chloride is essential for plant growth and quality. It plays a vital role in the production of proteins and sugars and also protects against drought by maintaining plant water content which in turn is a benefit for photosynthesis as leaves maintain their shape and vigor.
India Potash has said that this cut in price for farmers has been done despite substantial weakening of Indian rupee against the US dollar in the last one year and reduction in the government subsidy on MOP by Rs. 604 per MT with effect from 1st April 2020.
Dr PS Gahlaut, MD, India Potash Limited (IPL) said, "We sincerely believe that this step will result in balanced use of fertilizers which alone is the way forward to sub serve the government of India’s goal of reducing farmers cost on fertilizers and increasing the agriculture output.
"The company is always in favor of promoting scientific and judicious use of fertilizers," commented Gahlaut.
Union Minister of Chemicals and Fertilizers, DV Sadananda Gowda congratulated Dr. PS Gahlaut and management of IPL for taking a big step to assist farmers in the ‘need of the hour’.
He said, "Price cuts of MOP during COVID-19 period will immensely benefit farmers, especially marginal and small scale farmers and lower input cost will lead to increase in agricultural output and support income of farmers."
