Indian Farmers and Fertilisers Cooperative Limited, IFFCO has said that unless a new and favourable pricing policy comes into being, it might be compelled to curtain its Urea production. Talking to media persons in Allahabad, IFFCO Managing Director and CEO Udai Shankar Awasthi stressed on the urgent need for a new fertilizer policy. The new policy would enable the fertilizer producing cooperative sector company to reach its target of 18 lakhs tonnes for this financial year without incurring losses. Mr Awasthi said that in the absence of fertilizer policy, IFFCO had suffered a loss of Rs 30 crore last year. He said, IFFCO has also approached the government with a number of recommendations.The primary recommendation is to raise the prices for urea as an excessive use of urea has become rampant, resulting in sub-optimal levels of produce and avoidable damage to soil.The IFFCO MD also said that he was in favor of subsidies being given directly to the farmers instead of fertilizer companies and claimed that the Jan Dhan Yojana launched by Prime Minister Narendra Modi provided excellent scope for the same. He said IFFCO, have conducted mock drills at Bilaspur in Himachal Pradesh and Ranchi in Jharkhand to test the efficacy of this method and the results were satisfactory.