Indian Potash cuts price of muriate of potash by Rs 1,500 per tonne

Indian Potash Ltd (IPL) has cut the price of muriate of potash (MOP) by Rs 1,500 per tonne, benefitting farmers during the ongoing sowing of kharif (summer sown) crops.

The price has been cut from Rs 19,000 per tonne to Rs 17,500 per tonne, an official statement said. The reduction will be Rs 75 per bag.

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 vigour.

IPL said, "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 tonne with effect from April 1, 2020."