NEW DELHI, 16 May 2020: India Potash Limited (IPL), has decided to cut the price of Muriate of Potash (also known as potassium chloride) by INR 1500 from the present level of INR 19000 per MT to INR 17500 per MT i.e a reduction of Rs. 75 per bag with effect from 18 May 2020.
The company 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 INR 604 per MT with effect from 1 April 2020.
Speaking on this, Dr P.S Gahlaut, MD, India Potash Limited (IPL) said we believe that this step will result in balanced use of fertilizers which alone is the way forward to sub serve the Indian government’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.
Indian minister of chemicals and fertilizers D V Sadananda Gowda 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."
Muriate of potash (MOP), 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.