Chemical
Price monitoring helping farmers to get cheap fertilizers, says Gowda
Nutrient Based Subsidy (NBS) Scheme is helping in regulating the fertilizer prices.
- By ICN Bureau
| August 21, 2020
Thorough scrutiny of the cost of production/imports in the country for all fertilizers under the Nutrient Based Subsidy (NBS) Scheme is helping farmers to get cheap fertilizers says minister of chemicals and fertilizers DV Sadananda Gowda.
Due to this initiative of effective monitoring system by the department, Gowda informed that the fertilizer 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 P&K fertilizers by the manufacturing companies of Diammonium phosphate (DAP), Ammonium Sulphate and other P&K fertilizers.
Gowda further informed that during 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 fertilizer formulations, the MRP for 15 formulations has decreased during August 2020 as compared to August 2019. Price of Ammonium Sulphate has also decreased from Rs. 13,213 per MT in August 2019 to Rs. 13,149 per MT in August 2020.
The Department of Fertilizers is committed toward providing fertilizers at reasonable prices to the farmers of the country at the right time said the minister.
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