PIB News Update: India Potash Limited (IPL), has decided to cut the price of Muriate of Potash from the present level of Rs.19000 per MT to 17500 per MT i.e a reduction of Rs. 75 per bag w.e.f 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. It also protects against draught by maintaining plants water content which in turn is a benefit for photosynthesis as leafs maintain their shape and vigor.
Company has said that this cut in price for farmers has been done despite substantial weakening of Indian rupee against US Dollar in the last one year and reduction in the government subsidy on MOP by Rs. 604 per MT w.e.f. 1st April 2020.
Dr P.S 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. He said, Company is always in favor of promoting scientific and judicious use of fertilizers.
Union Minister of Chemicals and Fertilizers, D V Sadananda Gowda congratulated DR. P S Gahlout and management of IPL for taking a big step to assist farmers in the ‘need of the hour’. He said ” Price cut of MOP during COVID-19 period will immensely benefit farmers especially marginal and small scale farmers. Lower input cost will lead to increase in agricultural output and support income of farmers. ”