IFFCO will sell 11.26 lakh tonnes complex fertiliser with old rates

New Delhi [India], April 8 : Indian Farmers Fertiliser Cooperative Ltd (IFFCO) said on Thursday it will sell 11.26 lakh tonnes of complex fertiliser at old rates only and new rates are not applicable for farmers.
IFFCO said it takes a strong objection for tweets or news linking any political party or government for an increase in the price of complex fertilisers.
There is enough material in the market with old rates and the IFFCO marketing team will sell only previously packed material with old rates to farmers. The decisions are taken by keeping the farmer priority.
The prices of complex fertilisers mentioned by IFFCO are only tentative. International prices of raw material are yet to be finalised by companies, although there is a sharp increase.
"IFFCO as a manufacturing organisation had to print the cost on the bags for dispatching the new processed material by our plants. The price mentioned in the letter is the tentative cost only for mentioning on the bags which is a mandatory requirement."
IFFCO will continue to sell the old stock of 11.26 Lakh MT Complex Fertiliser at old rates only where DAP is Rs 1200/per bag. The material with new rates is not for sale to farmers. It has been sent from plants to fields for storage purpose. The selling price of the same might come down while the old stock is finished. Printing of MRP on bags is mandatory in order to move the inventory from the plants.
Tentative DAP/NPK cost printed on bags now moved from plants in April this year is based on the current raw material prices to be applicable on fresh stocks only. Aggressive negotiations with international raw material suppliers for price reduction are yet inconclusive. We are trying our best to get the prices reduced for the benefit of farmers.