Fertiliser cooperative major IFFCO on Wednesday announced a reduction in the maximum retail price of NP fertiliser by Rs 50 to Rs 925 per bag of 50 kg with immediate effect.
"This reduction in NP fertiliser, which contains nitrogen and superphosphate, is in line with the declining agriculture input cost to farmers and the Prime Minister's plan of doubling the farmer's income by 2022," it said.
"We are glad to announce the reduction of Rs 50/bag in the price of #NP 20:20:0:13 fertilisers across India with immediate effect on all stocks," Iffco Managing Director and CEO U S Awasthi tweeted.
"The reduction by Rs 1,000 a tonne is done to give support to the farmers on sulphur, a key input nutrient for soil," he said.
The co-operative said that IFFCO will keep on reducing prices wherever possible for farmers.
Earlier, it had reduced prices of NPK and DAP (Di-Ammonium Phosphate) fertilisers.