Page 2 - Fertilizers

SPIC Group pledges to invest Rs 1,900 crore in Tamil Nadu over next 2 years

SPIC is earmarking Rs 970 crore to revamp the existing urea plant, augment capacity, and establish a 150 MTPD (metric tones per day) green ammonia plant

GSP Crop Science eyes Rs 1,800 cr revenue in FY25; 6-7% mkt share in 4 yrs

Agrochemicals manufacturer GSP Crop Science is eyeing Rs 1,800 crore in revenue in 2024-25, following its domestic as well as overseas market expansion, a top company executive has said. "In 2022-23, our annual revenue was at Rs 1,600 crore. We are looking at Rs 1,800 crore revenue in FY25. Overall our target is to reach Rs 2,500 crore in next 3-4 years with the addition of overseas business especially in Brazil," GSP Crop Science Managing Director Bhavesh Shah told PTI. Shah said the company is working towards reducing its dependency on China for raw materials and planning to produce intermediaries needed to develop crop solution products. "In order to reduce our raw material dependency on China, we are planning to gradually produce intermediaries needed for manufacturing our products. We are setting up our third manufacturing unit in Dahej in Gujarat with an investment of Rs 100-110 crores. In this unit we will initially produce 4 intermediaries," he added. The company is focusin

Urea, DAP fertilizers availability comfortable in ongoing rabi season: Govt

The availability of two key fertilisers, urea and di-ammonium phosphate (DAP), has remained comfortable during the ongoing 2023-24 rabi season, Parliament was informed on Friday. In a written reply to the Lok Sabha, Minister of State for Chemicals and Fertilizers Bhagwanth Khuba said about 132.77 lakh tonne of urea has been made available for the October-December period of the ongoing rabi season, which is higher than the requirement of 91.05 lakh tonne for the same period. Total urea requirement for the entire 2023-24 rabi season is pegged at 185.41 lakh tonne, he said. Even the availability of DAP has remained comfortable in the country during the ongoing rabi 2023-24 season, he added. The minister also mentioned that there is no such report of artificial demand/shortage of urea that has come to its notice. Urea and DAP are two widely used fertilisers in the country. Currently, sowing of rabi crops like wheat and pulses is underway. Sowing begins from October and harvesting fro

India warns global fertilisers suppliers against price cartelisation

India on Wednesday warned global fertilisers suppliers against price cartelisation saying a steep rise in crop nutrients in recent times is unacceptable and consuming nation will look at the alternative if this is not checked. Addressing the annual seminar of the Fertiliser Association of India (FAI), Chemicals and Fertilisers Minister Mansukh Mandaviya said India has already innovated alternate fertilisers like nano liquid urea and nano liquid Di-ammonium Phosphate (DAP) as part of its efforts to become self-sufficient. The minister pointed out that global suppliers took advantage of the crisis in the global market during the Russia-Ukraine war and raised prices of phosphatic and phosphoric acid He said global prices of DAP have increased to USD 590 per tonne from USD 450 in just 15 days. "It's not good. This is not the time that we do not work together," he said and asked global suppliers not to engage in price cartelisation. The minister said this is not in the interest of ...

Coromandel International Q2 results: Net profit rises 2% to Rs 755 crore

Coromandel's total income for the quarter ended September 2023 was at Rs 7,033 crore, versus Rs 10,145 crore for the quarter ended September 2022

Centre approves Rs 22,303 cr subsidy on P&K fertilizers for rabi season

The FY24 Budget had estimated the subsidy expenditure on non-urea fertilisers at Rs 44,000 crore for the 2023-24 financial year

Coromandel commissions Rs 400 cr sulphuric acid unit in Visakhapatnam

Fertiliser firm says it will also set up desalination plant to meet its requirements

Coal India, GAIL, RCF to partner to invest $372 mn in fertiliser JV

NEW DELHI (Reuters) - State-run firms, Coal India, GAIL India, and Rashtriya Chemicals & Fertilizers (RCF), will invest 30.95 billion rupees ($371.90 million) in their fertiliser joint venture in Odisha, two government officials told Reuters.

PM Janaushadhi Kendras-like stores for animal medicines on the cards

The Janaushadhi Kendras are a collaboration between government agencies and private entrepreneurs

KRIBHCO's turnover jumps 95% to Rs 25,715 cr in FY23, declares 20% dividend

Fertiliser cooperative Krishak Bharati Cooperative Ltd's (KRIBHCO) total income jumped 95 per cent to Rs 25,715.07 crore during last fiscal on better sales, and it declared a dividend of 20 per cent. Total income stood at Rs 13,194.50 crore in the previous year. Addressing its 43rd annual general meeting (AGM) here on Thursday, KRIBHCO's Chairman Chandra Pal Singh said the cooperative earned a pre-tax profit of Rs 763.16 crore in 2022-23. The profit before tax stood at Rs 1,493.26 crore in the previous year. The cooperative has declared a dividend of 20 per cent on equity capital for the year and the management has approved Rs 77.68 crore for dividend outgo, Singh said. The annual accounts of the cooperative have been approved by the members in the AGM. Net worth of KRIBHCO increased to Rs 5,128.61 crore last fiscal year from Rs 4,643.10 crore in FY22. "The total membership of KRIBHCO consists of 9,470 cooperative societies. The paid up share capital of the society was Rs 388.62

China slows fertiliser exports, raising concerns for Indian industries

As the world's largest producer of urea, China accounts for about a third of global supplies of the nitrogen-based fertiliser, which is critical to growing crops

House panel on chemicals and fertilisers on 4-day visit to Andaman

A team of the Parliamentary Standing Committee on Chemicals and Fertilisers arrived here on Tuesday on a four-day visit to Andaman and Nicobar Islands, officials said. The team is headed by Lok Sabha MP CN Annadurai and comprises Arun Kumar Sagar, Sanjeev Kumar Singari, Indra Hang Subba, GC Chandrashekhar, and Vijay Pal Singh Tomar, among others. After their arrival, the team members visited the National Memorial Cellular Jail and paid tributes to freedom fighters. Later, they went to Swaraj Dweep (formerly Havelock Island) and held discussions with representatives of the Department of Chemicals and Petrochemicals on the safe usage of insecticides and pesticides in the archipelago. On Wednesday, the panel members will hold meetings with officials of the Department of Fertilisers, Madras Fertiliser Limited (MFL) and Fertilisers and Chemicals Travancore Limited (FACT) on the availability and distribution of fertilisers in the Union territory. They will also hold discussions with ...

Govt plans to curb subsidised-urea diversion to plywood, other industries

The government has prepared a comprehensive action plan to crackdown on diversion of highly-subsidised urea to plywood and other industries, and violators could even face a jail term, according to official sources. The Union chemicals and fertilisers ministry will coordinate with other central ministries as well as states to curb the diversions and plans are also afoot to launch joint operations to prevent the diversion of agriculture-grade urea, the sources in the know said. Earlier this week, Union Chemicals and Fertilisers Minister Mansukh Mandaviya asked states and Union Territories to curb diversion of agriculture-grade urea to industries. Neem-coated urea is provided by the central government to farmers at a highly subsidised rate of Rs 266 per bag (of 45 kilograms), which is much cheaper than technical-grade urea meant for industrial use. In this backdrop, there are instances of diversion of agriculture-grade urea to industries that make resin/glue, plywood, crockery, mouldi

Fertiliser bags to carry PM Narendra Modi's appeal to limit its use

The manufacturing company name is mentioned in 25-30 per cent of the fertiliser bag

Govt should propose tax rate cut on fertilisers to GST Council: Parl panel

A Parliamentary panel has recommended that the government should propose to the GST Council to reduce tax rates on fertilisers from the current 5 per cent. In its report laid in Parliament on Wednesday, Standing Committee on Chemicals and Fertilizers said the committee have been informed that fertilisers were placed under the 12 per cent GST bracket. However, on demand of various states, GST on fertilisers was reduced to 5 per cent. "The issue to further reduce GST on fertilisers was placed before the GST council in its 45th and 47th meetings held in September 2021 and June 2022, respectively. The GST council, however, did not recommend any change in the rates of fertilisers or other organic farm inputs. "The committee strongly recommend that the issue to further reduce GST on fertilisers may be placed before the GST Council at the earliest in the best interest of the farmers of our country," it added. The panel noted that fertilisers are levied GST at 5 per cent and its raw ...

National Fertilisers posts Q1 net loss of Rs 121.43 cr on sluggish sales

State-owned National Fertilisers Ltd on Tuesday posted a consolidated net loss of Rs 121.43 crore during the first quarter of this financial year on sluggish sales. The company had posted a net profit of Rs 125.46 crore in the same quarter of the previous fiscal, the regulatory filing said. Total income declined on a consolidated basis to Rs 5,051.23 crore during April-June quarter of the current financial year, from Rs 6,454.65 crore in the year-ago period. Expenses, however, remained lower at Rs 5,251.10 crore, as against Rs 6,312.23 crore in the said period, the filing said.

ICAR bio-fertilisers to improve crop yields, promote organic farming

Implementation of bio-fertilisers can improve crop yields by 10% to 25% and reduce the reliance on costly chemical fertilisers by 20% to 25%

MDA scheme to cut 9.6mn tons chemical fertiliser imports, says IBA

The Market Development Assistance (MDA) Scheme will increase organic fertilizers production from Gobardhan Plants and will cut 96 lakh tonnes chemical fertiliser import and reap benefits worth Rs 11,000 crore, according to Indian Biogas Association (IBA). Earlier in June this year, the Cabinet Committee on Economic Affairs had approved the Rs 1,451-crore MDA scheme, which consists of innovative incentive mechanisms for the restoration, nourishment, and betterment of mother earth. In its study, the IBA said this scheme will give impetus to not only existing biogas and compressed biogas plants, which are struggling to channelize their biofertilizer, but will provide additional support for at least 500 new Biogas plants. In case the given MDA fund is channelled, 9.6 MMTPA of generated biofertilizer shall be supported, leading to a reduction in the import of chemical fertiliser, the industry body said. The IBA estimated 96 lakh tonnes reduction in the import of chemical fertiliser thro

Power, infra, fertilsiers: How centre is incentivising states for reforms

Fund transfer linked to them meeting certain benchmarks in improving sectors

Mandaviya bats for natural farming, reduced chemical fertilisers use

Union minister Mansukh Mandaviya on Saturday said the excessive use of chemical fertilisers affects soil fertility and also has side effects on human and animal health, and stressed on the need to promote alternative fertilisers such as nano liquid urea-DAP. The chemical and fertiliser minister was addressing a "Stakeholder workshop on strategy for promotion of alternative nutrition to reduce dependence on chemical fertilizers for Soil health and sustainability' here. The workshop was attended by vice chancellors of agricultural universities, state agriculture officers, manufacturers and distributors, farmer groups and NGOs, besides senior officials from the ministry of agriculture, ministry of chemicals and fertilizers, and Niti Aayog. "The side effects of over consumption of chemical fertilisers are visible now. Soil health has been impacted," Mandaviya said, adding that the growth in production and productivity has stagnated. Citing a medical study in few districts where usage o