Madras Fertilisers MoU with Dubai’s Agrifields amid prevailing uncertainties in the supply of DAP, NPK.
NEW DELHI, Sep 30 (The CONNECT) - India’s partnerships with global suppliers for ensuring long-term supply of fertilisers to Indian farmers will also address international cartelisation, said Union Minister of Chemicals and Fertilizers Madras Fertilisers MoU with Dubai’s Agrifields amid prevailing uncertainties in the supply of DAP, NPK..
He was speaking after the signing of an MoU of between Madras Fertilizers Limited and Agrifields, Dubai.
In a significant step towards improving availability of DAP and NPK fertilizers for the farming community of the country, Madras Fertilizers Limited has signed the MoU for procuring 30,000 MT of Phosphoric Acid Solution from M/s Agrifields, Dubai annually for three years.
Approximately 1.67 LMT NPKs will be produced by using this quantity of Phosphoric Acid. This will fulfil the P2O5 requirement to produce 59.6% of total installed capacity (2.8 LMT) of complex fertilizers of MFL.
The Union Minister highlighted that “The MoU coming in the backdrop of prevailing uncertainties in the supply of fertilizers, particularly DAP and NPKs, will play a strong role in fair play of economies rather than few global players managing through cartelisation.”
As the international market has seen a downward trend in Phosphatic Fertilisers, the same trend ought to be reflected in raw materials of fertilisers like Phosphoric Acid in the coming quarters, he said.
Dr Mandaviya stated that Phosphoric Acid is an important raw material for manufacturing DAP and other complex NPK fertilizers. Given India’s high dependence on imports of raw material and fertiliser minerals, Government of India has been entering into such supply partnerships with global producers and suppliers for ensuring stable long-term availability of P&K fertilizers to Indian farmers. The importance of such MOUs is accentuated ahead of upcoming cropping season as this will contribute towards ensuring food security not only in the country, but also help to strengthen global food security, he stressed