Lower chemical fertiliser offtake to hit FY17 turnover: IFFCO

Indian Farmers Fertiliser Cooperative (IFFCO) today said its turnover in current financial year may suffer due to the lower offtake of chemical fertilisers and fall in international prices.
"Our turnover will be lower this fiscal (compared to FY16 turnover of Rs 29,000 crore), because of a reduced offtake of chemical fertilisers and drop in international fertiliser prices," IFFCO Managing Director U S Awasthi said.
He said the use of bio-fertilisers has increased in recent years whereas manufacturing by IFFCO has gone up 10 times.
Awasthi was speaking to reporters at the fertiliser cooperative's manufacturing unit at Kalol in Gandhinagar.
He termed as a "welcome step" the Centre's initiative to coat 100 per cent urea with neem.

"We began the process of coating urea with neem long back when the government had allowed only 35 per cent of urea to be neem coated. Modi Government has increased it to 100 per cent. We welcome this move, it's a step in right direction.

"There are many benefits of coating neem to urea as it acts as a pesticide (because of medicinal benefits of neem). The move has also helped reduce Neelgai menace, as the animal which destroys crops, stays away from its smell. The process has also helped to stop its illegal diversion for industrial use," he said.

IFFCO, which has 36,000 cooperative societies with around 4 crore member farmers, officially kicked off its golden jubilee celebrations from Kalol unit today, with the year-long programme.
Awasthi said the cooperative's new initiative, IFFCO
Bazar will act as a one-stop store for farmers to get services provided by the cooperative apart from health services for farmers. 52 such stores have been opened so far.
"We are making one-stop store which will have fertilisers, seeds, chemicals, insurance services. Our communication company, IFFCO Sanchar will provide its services. Through our e-bazar (online) platform, we will try to connect producers and consumers electronically and will have delivery courier system to deliver our products," the MD said.

The cooperative will also invest Rs 2,000 crore in its five units on energy-saving projects, Awasthi said, adding that research in nano-fertiliser technology in educational institutes is also being sponsored by IFFCO.
He said the focus was also on increasing women's participation in cooperatives and expanding its reach in the North East India.