Why are fertilizer stocks surging?
Shares of fertilizer companies surged Thursday after Indian Farmers Fertiliser Cooperative Ltd (IFFCO) increased prices of fertilizers by 55-60 percent. These include di-ammonium phosphate (DAP) fertilizers and different grades of nitrogen, phosphorus, and potassium (NPK) fertilizers.
Shares of fertilizer companies surged Thursday after Indian Farmers Fertiliser Cooperative Ltd (IFFCO) increased prices of fertilizers by 55-60 percent. These include di-ammonium phosphate (DAP) fertilizers and different grades of nitrogen, phosphorus, and potassium (NPK) fertilizers.
Shares of Deepak Fertilizers, Rashtriya Chemicals, and National Fertilizers rose between 13-18 percent.
For DAP, IFFCO has increased the price from Rs 1,200 to Rs 1,900 per bag. This price hike is effective from April 1, 2021.
Watch the accompanying video featuring CNBC-TV18’s Sonal Bhutra for more details.
(Edited by : Yashi Gupta)
First Published: Apr 8, 2021 11:45 AM IST
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