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Fertilisers, crop protection and specialty nutrient products manufacturer, Coromandel International Limited, has signed an MoU with the International Rice Research Institute (IRRI) for promoting and disseminating improved rice research technologies in India.
The technologies will help improve all aspects of rice cultivation including seed quality, nutrient and crop management, water management, farm machinery and post-harvest processing.
The partnership with IRRI, an independent not-for-profit organisation that develops new rice varieties and rice crop management techniques to help farmers improve the yield and quality in an environmentally-sustainable way, will allow Coromandel to bring rice production technologies and best practices to farmers in India through its extensive network.
Coromandel, part of the Rs 22,314-crore Murugappa Group, has a strong foothold in Andhra Pradesh, Tamil Nadu, Karnataka, Orissa, Chhattisgarh and West Bengal that together account for over 50 per cent of the country's rice production. The company has 640 retail stores in AP and Karnataka that give it direct access to more than two million farmers.
“This partnership will facilitate introduction of world-class rice production technologies in India for improving yield and quality which in turn will lead to higher incomes for farmers and increased quality rice production,” Kapil Mehan, MD of Coromandel, said in a release.
“Our new partnership with Coromandel fosters a new type of relationship with the private sector in India to advance our research in new and more dynamic ways through Coromandel's on-ground presence and direct interaction with farmers. With Coromandel, we are looking forward to reaching more farmers and spreading the benefits of the best in rice science even further to reduce poverty and improve environmental outcomes,” said Robert Zeigler, director-general of IRRI.
Coromandel International’s scrip is currently trading at Rs 192.15 on the BSE, up 4.29%, over the previous close of Rs 184.25 a share.
