As rabi sowing gains ground across the country, farmers will have to prepare themselves to pay more for crop protection products.
The rupee slide against the dollar and rise in cost of raw materials are prompting agro-chemical makers to go in for yet another round of price hike, as pulses sowing in the current rabi reaches its peak. While rabi sowing has started in the north, southern States are beginning transplantation, with expectations of a good rabi harvest this year.
Insecticides India Ltd has decided to go for a 10-15 per cent hike across thirty of its products, a bulk of which is in the insecticide segment. “The hike could be 20 per cent for certain products. We will be introducing the hike in phases till the first week of January,” Rajesh Aggarwal, Managing Director, said.
The company, which has over 110 products across insecticides, herbicide and fungicide segments in its portfolio, is increasing prices for the fifth time this fiscal.
“I feel prices of raw materials, especially phosphorous-based ones, will continue to rise, as many MNCs have stopped production and there is global shortage. Input prices have gone up about 10 per cent in the last six month. So price hikes (of crop protection products) may continue in the beginning of next fiscal,” he told media persons here today.
IIL’s product prices range from a minimum of Rs 125 a litre to a maximum of Rs 6,000 a kg for new generation products, with the average price tag being Rs 300 a kg.