IFFCO acquires equity stake in UCX

The Indian Farmers Fertiliser Cooperative (IFFCO) has acquired equity stake in Universal Commodity Exchange (UCX) which is a group company of IT People. UCX is the newest national level multi-commodity exchange to have receieved approvals from the Government of India.

IFFCO is the largest producer and marketer of fertilisers with a team of 40,000 cooperative societies representing over 50 million farmers across the country. IFFCO also has other strategic investments in several joint ventures in the country and abroad in insurance and power sectors.

The deep rural penetration with a vast and integrated marketing network in place, IFFCO's participation in UCX is likely to accelerate promoting trading in the agri-products across the country and increase in the trading volumes.