Farm input cost set to rise with increase in fertiliser prices

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The farm input cost is set to rise sharply with a steep increase in fertiliser prices on account of spike in international prices of the raw material. The country’s largest fertiliser seller – Indian Farmers Fertiliser Cooperative (IFFCO) – has raised the prices of non urea fertilisers by upto 58%. A 50 kg bag of most popular nutrient DAP will now cost Rs 1900 as against Rs 1200 a bag. Similarly, the price of NPK will range from Rs 1500-1800 a bag – a rise of almost 50% from earlier price tag. Other companies have also announced rise in fertiliser prices.

IFFCO, however, clarified that the company will not sell fertiliser immediately at the increased prices.

“We will sell the 11.26 lakh tonnes of complex fertiliser which will be sold at old rates only. Materials with new rates are not for sale to anyone. There is enough material in the market with old rates and I have instructed the IFFCO marketing team to sell only previously packed material with old rates to farmer,” tweeted U S Awasthi, managing director and chief executive of IFFCO.

Awasthi tweeted that the prices of complex fertilisers mentioned by IFFCO are only tentative.

“The International prices of the raw materials are yet to be finalise by companies. Indeed, there is a sharp increase seen in the trends of international raw material prices,” he tweeted.

The rise in fertiliser prices is likely to break the backbone of farmers, who are already reeling under the high price of diesel. In the ensuing kharif season the input cost may get doubled.

“The minimum support price (MSP) is not in consonance with the higher input cost. Any further rise in cost will badly affect the economics of agriculture. In present situation, the MSP of Kharif crops including rice, bajra and pulses should be increased substantially to support farmers,” said Rajveer Singh, a farmer leader.

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Tagged farm input cost, Fertiliser, Fertiliser prices, Indian Farmers Fertiliser Cooperative, MSP

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