Page 2 - Fertilisers

IFFCO profit rises 16% to 2,823 cr, revenue up 4.5% to Rs 41,244 cr

Fertilizer major IFFCO on Thursday reported a 16 per cent increase in net profit to Rs 2,823 crore and a 4.5 per cent growth in turnover to Rs 41,244 crore during the last fiscal on higher sales of conventional soil nutrients as well as nano liquid urea and nano liquid DAP. It had posted a net profit of Rs 2,443 crore and turnover of Rs 39,474 crore in the 2023-24 fiscal. Cooperative IFFCO Managing Director U S Awasthi highlighted that sales of nano fertilisers rose 46 per cent last fiscal to 364.41 lakh bottles (of 500 ml each) but rued that "growth in sale volumes is not as per the expectation". Asserting that the nano fertilisers are effective if application is done in prescribed manner, he said the cooperative is focusing on creating awareness about the benefits of the new products. It is investing a lot on purchasing drones for spraying nano liquid. He said the cooperative has got a good response for nano-fertilisers in overseas markets, including Brazil and the United ...

Outdated fertiliser rules favour imports over domestic production: Industry

The government's "outdated" fertiliser regulations are creating an uneven playing field, favouring Chinese imports over domestic manufacturers and undermining the "Make in India" initiative, industry bodies said on Tuesday. The fertiliser control framework's concurrent naturegoverned by both central and state authoritieshas led to numerous amendments but has struggled to keep pace with evolving domestic needs and global developments, gradually coming to be seen as a relic of the legacy "Inspector Raj" and "License Raj", they said. The industry bodies called for comprehensive reforms including implementing "One Nation, One Licence" policies, ensuring regulatory parity between domestic and foreign manufacturers, and capping inspector numbers to two per unit. The Soluble Fertilizer Industry Association (SFIA), in a statement, said a major public sector enterprise recently issued tenders for soluble fertilisers that explicitly excluded "Made in India" products, highlighting how current

Rajasthan's agriculture dept launches campaign against fake fertilisers

Suresh Kumar Ola, the state's agriculture commissioner, said that the quality control campaign will be run till July 10

Agri sector waits to see if new NBS will absorb special incentive on DAP

The special incentive as well as the increase in NBS rates has also meant that DAP is now the second fertiliser, the other being urea, fpr which the Centre is keeping its prices artificially low

Govt likely to use reserve oil funds to finance fertiliser subsidy gap

The Oil Industry Development Act allows for the OIDF money to be utilised for fertilisers

After 4 years, Di-Ammonia Phosphate prices likely to rise by 12-15%

Sources said that the unofficial cap on prices has been lifted and companies have been permitted to raise DAP and other complex rates by a specified amount

Govt should boost soil nutrients to maintain yields, say scientists

A mapping of India's soil health has shown that almost 90 per cent of the land is deficient in nitrogen and phosphorus, and 50 per cent in potassium

FAME-III likely to see vehicles sporting government subsidy branding

Move aims to highlight Centre's electric mobility schemes and ensure greater transparency

Ex-MP CM Shivraj in Bhopal today, his 1st visit after becoming Union min

Shivraj Singh Chouhan had assumed charge of Union Minister of Agriculture and Farmers Welfare under Prime Minister Narendra Modi's new Cabinet on June 11

Fertiliser stocks zoom up to 7% amidst healthy monsoon expectations

Shares of fertiliser companies rose up to 7 per cent on the BSE in Monday's intra day deal amidst healthy monsoon predicted by IMD

Govt notifies specifications of Iffco's 'Nano Urea Plus' fertiliser

The government has notified specifications of a new product 'Nano Urea Plus' fertiliser to be manufactured by cooperative IFFCO in the country for the next three years. Nano Urea Plus is a new version of nano urea meant for meeting crop nitrogen requirements at critical growth phases. As per the gazette notification, the government has approved Nano Urea Plus in liquid form with 16 per cent nitrogen content and pH value of 4-8.5 and viscosity of 5-30. This product will be manufactured by the cooperative major IFFCO for a period of three years, it said. "IFFCO's Nano Urea Plus is an advanced formulation of Nano Urea in which nutrition is redefined to meet crop nitrogen requirements at critical growth phases. It is used in place of conventional urea and other nitrogenous fertilisers for promoting soil health, farmer's profitability & sustainable environment," IFFCO Managing Director and CEO U S Awasthi said on a social media platform X. It also enhances the availability and ...

Urea consumption to fall 2.5 mn tonne on efforts to cut chemical fertiliser

India's conventional urea consumption is estimated to decline 25 lakh tonnes this fiscal on increase in demand of nano liquid urea and the government's efforts to discourage use of chemical fertilisers, Union Minister Mansukh Mandaviya said on Friday. Chemicals and Fertilisers Minister Mansukh Mandaviya also highlighted that the Cabinet on Thursday approved a Rs 24,420 crore subsidy on Phosphatic and Potassic (P&K) fertilisers for the kharif season. The prices of all fertilisers, including urea and Di-ammonium phosphate (DAP), will not increase, he said. "The Modi government has made a lot of efforts to promote alternate fertilisers and discourage use of chemical fertilisers. The use of nano liquid urea is also gaining momentum," Mandaviya said. As a result, the minister said, "The consumption of urea in 2023-24 is estimated to decline by 25 lakh tonnes." Mandaviya said the urea consumption stood at 357 lakh tonnes during FY23. "During April-January period of this fiscal, the ...

Key infra sectors' growth slows to 15-month low of 3.6% in January

The growth of eight key infrastructure sectors slowed to a 15-month low of 3.6 per cent in January, on account of poor performance of sectors like refinery products, fertiliser, steel and electricity, according to the official data released on Thursday. The growth of eight core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.9 per cent in December. It was 9.7 per cent in January 2023. The previous low level of growth rate was recorded at 0.9 per cent in October 2022. Cumulatively also, the growth rate in the output of these sectors slowed down to 7.7 per cent as against 8.3 per cent in April-January 2022-23. The output growth of refinery products and fertiliser was in the negative zone. And the pace of increase in the output of coal, steel, and electricity decelerated during the month under review. However, crude oil, natural gas, and cement production recorded positive growth in January. The eight core sectors contr

Govt approves Rs 24,420 cr subsidy for P&K fertilisers for kharif season

The government on Wednesday announced a Rs 24,420-crore subsidy on phosphatic and potassic (P&K) fertilisers for the upcoming kharif season and said the farmers will continue to get key oil nutrient DAP at Rs 1,350 per quintal. The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the proposal of the Department of Fertilizers for fixing the Nutrient-Based Subsidy (NBS) rates for the Kharif Season 2024-25 from April 1 to September 30 on P&K fertilisers. Briefing reporters, I&B Minister Anurag Thakur said, "A nutrient-based subsidy of Rs 24,420 crore on P&K fertilisers has been approved for the kharif season starting April 1 till September 30." The minister said the subsidy on Nitrogen (N) has been fixed at Rs 47.02 per kg, phosphatic (P) at Rs 28.72 per g, potassic (K) at Rs 2.38 per kg and Sulphur (S) at Rs 1.89 per kg for 2024 kharif season, he said. The subsidy on phosphatic fertilisers has been increased to Rs 28.72 per kg for the 2024 kharif ...

No ammonia emission in Ennore plant area in Dec: Coromandel International

An expert who conducted the audit stated that the chances of line pressurisation beyond the design condition are not a credible scenario

Sulphur-coated urea will improve fertiliser efficiency but needs efforts

Farmers will have to be educated and factories will require capital expenditure

Govt to spend less on farmer fertiliser subsidy as world prices soften

India's budget deficit is projected to be 5.8% of gross domestic product in 2023-24. The government aims to curb the deficit to 5.1% in the next financial year

Seeking balance between controlled, skewed pricing in favour of urea

Some in the industry fear a return of controls while others see positives in a govt circular, but the bigger issue is the skewed pricing in favour of urea

The Red Sea crisis: Imported fertilisers paint mixed price picture

Annual fertiliser subsidy would remain within the FY24 Budget estimate of Rs 1.75 trillion and could have been lower had the crisis not erupted

Eight key infrastructure sectors growth up at 12.1% in October: Govt data

All the sectors except for fertiliser recorded healthy production growth in the month under review