Page 3 - Fertilizers

Govt nods to PM-PRANAM to incentivise promotion of alternative fertilisers

The Cabinet on Wednesday approved a new scheme PM-PRANAM to incentivise states to promote alternative fertilisers and reduce the use of chemical fertilisers. The scheme PM-PRANAM (PM Programme for Restoration, Awareness, Generation, Nourishment and Amelioration of Mother Earth) was announced by Finance Minister Nirmala Sitharaman on February 1 as part of the Budget for 2023-24. "Under the scheme, the Centre will incentivise states, which will promote alternative fertilisers and reduce chemical fertilisers," Fertiliser Minister Mansukh Mandaviya told reporters after the cabinet meeting. Citing example, suppose a state is using 10 lakh tonne of conventional fertiliser, and if it reduces its consumption by 3 lakh tonne, then the subsidy saving would be Rs 3,000 crore. Out of that subsidy savings, the Centre will give 50 per cent of it -- Rs 1,500 crore to the state for promoting the use of alternative fertiliser and other development works, he added.

Incentivise eco-friendly fertilisers

Consumer demand for the products grown without the use of toxic chemicals is steadily climbing

Rationalising prices

Excess use of urea should be contained

Govt to push alternative plant nutrients to cut fertiliser subsidy load

A scheme to promote balanced use of fertilisers along with bio-fertilisers, called Promotion of Alternate Nutrients for Agriculture Management Yojana is to be formally unveiled at end of this month

GNFC, GSFC: Trading strategies for fertiliser stocks amid rebound on charts

RCF, GNFC and FACT may rally up to 15% as per their technical charts

Sale of pesticides worth Rs 18.82 crore banned over quality issues in Maha

The Maharashtra agriculture department has banned the sale of pesticides and fertilisers worth Rs 18.82 crore in Akola district after an inspection showed that they did not meet quality standards, officials said. To ensure the supply of good quality inputs to farmers ahead of the Kharif season, the department collected samples of pesticides and fertilisers from 63 godowns. Of these, the samples of 36 companies had various deficiencies, the department said in a release on Monday. The department then banned the sale of these companies' stocks, worth about Rs 18.82 crore, lying in the godowns, it said.

Cap subsidised fertiliser bags, overhaul PM-AASHA scheme, says CACP

It also sought to bring urea under the nutrient-based subsidy regime

PACS can be roped in as drone traders for spraying fertilizers: Coop Min

The government on Thursday said Primary Agricultural Credit Societies (PACS) can be employed as drone entrepreneurs for spraying fertilizers and pesticides, and for survey of property. This was among the five key decisions taken in a meeting between Cooperation Minister Amit Shah and Minister of Chemicals and Fertilisers Mansukh Mandaviya, the Ministry of Cooperation said in a statement. In the meeting, it was decided that on the basis of mapping, PACS -- which are not functioning as fertilizer retailers -- will be identified and they will be encouraged to function as retailers on the basis of feasibility in a phased manner, it said. Those PACS, which are not currently functioning as Pradhan Mantri Kisan Samruddhi Kendras (PMKSK), will be brought under the ambit of PMKSK, it added. Further, PACS will also be connected with the marketing of organic fertilizers, especially Fermented Organic Manure (FoM)/ Liquid Fermented Organic Manure (LFOM)/ Phosphate Enriched Organic Manure ...

2 entities offload Deepak Fertilisers shares for Rs 131 cr via open market

Two entities on Wednesday offloaded shares of Deepak Fertilisers and Petrochemicals for Rs 131 crore through open market transactions. The entities are SmallCap World Fund Inc and Anirudh Damani. According to the bulk deal data available with the NSE, SmallCap World Fund Inc sold 23,54,000 shares, amounting to 1.86 per cent stake in Deepak Fertilisers and Petrochemicals. Also, Damani disposed of 42,943 shares in the firm, as per the data. The shares were offloaded in the range of Rs 548.42-550.57 apiece, taking the transaction value to Rs 131.46 crore. Post the latest transaction, SmallCap World Fund's shareholding has been reduced to 3.08 per cent from 4.94 per cent (as per March 2023) equity in the firm. Meanwhile, Damani bought 8,70,743 shares at an average price of Rs 548.45 apiece of the company. On Wednesday, Deepak Fertilisers and Petrochemicals gained 1.56 per cent to close at Rs 568 per piece on the NSE.

RCF's contractor to pay Rs 173.72 crore for breakdown of two GTGs

Rashtriya Chemicals and Fertilizer (RCF) on Tuesday said it has won an arbitration award of Rs 173.72 crore from one of its contractors for the breakdown of two gas turbo generators (GTGs). The award was handed over by a single-member arbitral court which directed the contractor whose name was withheld by the company in an exchange filing. The contractor was also asked to repair and reinstate both the GTGs at the company's plant at their own cost under the defect liability clause. The arbitrator has also allowed RCF's claim for additional expenditure incurred on power and directed the contractor to pay Rs 173.72 crores with interest 10 per cent from the date of claim and a sum of Rs 95 lakhs as arbitration cost to the company.

India mulls issuing green ammonia tender to curb fertilizer emissions

Talks are taking place between fertilizer manufacturers and the country's renewable energy ministry to assess potential demand for the feedstock, Bhupinder Singh Bhalla, the dept's top bureaucrat said

Making efforts to set up chemical parks to meet domestic demand: Mandaviya

Chemicals and Fertilisers minister Mansukh Mandaviya on Wednesday stressed on the need to bring innovations in the chemicals sector and said the government is making efforts to set up chemical parks to meet a rising domestic demand. The minister was virtually addressing an international conference on Chemicals & Petrochemicals, organised by industry body CII in association with the Department of Chemicals and Petrochemicals, Ministry of Chemicals & Fertilizers. "To meet the rising domestic demand, the government of India is striving towards establishing the global state-of-art chemicals parks with all necessary plug and play facilities by providing a sustainable ecosystem to the industries," Mandaviya said. The chemical industry is a critical and integral part of growing Indian economy, he said, adding that there is an immense growth potential of this sector. Mandaviya highlighted the need to bring innovation across all the segments of the chemical and petrochemical industry ..

Subsidy Booster: GNFC, Chambal, GSFC eye up to 11% gain amid bullish bias

Major stocks in fertlizer sector continue to trade with bullish bias, as their chart structures denote feasible upside.

Cabinet approves Rs 38,000-cr subsidy for non-urea fertilisers this kharif

Centre likely to spend Rs 1.08 trn overall on subsidy this Kharif season

Fertiliser diversion: Govt cancels 112 licences, files 30 FIRs in 6 months

Seeking to curb the diversion of subsidised fertilisers for non-farming purposes, the government today said it has conducted a surprise inspection of 370 plants in the last six months and cancelled licences of 112 violating manufacturing units and registered 30 FIRs. According to the fertiliser ministry data, out of 370 units located in 15 states, the inspection was conducted in 220 mixture fertiliser units, 130 urea units, 15 SSP fertiliser units and 5 exporters. The maximum number of fertiliser units were inspected in Gujarat (92), followed by Kerala (54), Tamil Nadu (40) and Karnataka (39) during the last six months, the data showed. "There is a fertiliser crisis in the world. In such a situation, a subsidy of Rs 2,000-2500 per bag is being given to farmers in our country. Strict action will be taken against those engaged in diversion, be it distributors or users or outlets," Chemicals and Fertilisers Minister Mansukh Mandaviya told reporters. About 268 samples were taken from .

UPL's profit declines by 42% in March quarter as raw material costs surge

The Mumbai-based company's revenue from operations rose 4.5% to 165.69 billion rupees, with its Latin American operations raking in about 39% of the total revenue

IFFCO's net profit increases by 62% to record Rs 3,053 cr last fiscal

Cooperative major IFFCO, which sells conventional granular as well as nano (liquid) fertilisers, has reported 62 per cent increase in net profit to record Rs 3,052.73 crore for the last fiscal year on better income. Its profit stood at Rs 1,883.77 crore in the previous year. Total revenue also grew to Rs 60,324 crore in 2022-23 from Rs 40,171.67 crore in the previous year. "IFFCO has registered the highest ever Profit After Tax of Rs 3,053 crore along with the highest ever turnover of Rs 60,324 crore for FY22-23," IFFCO's MD U S Awasthi said. He attributed the record profit to better plant performance, efficient marketing channel, good support from the government and better management. On operational front, IFFCO reported the highest production of 95.61 lakh tonne last fiscal. It also achieved the highest production of nano fertilisers at 479.38 lakh bottles of 500 ml each. The company sold 128.07 lakh tonne of fertilisers in the last fiscal. The sale of nano fertilisers was at r

Amit Shah launches IFFCO's nano DAP fertiliser for commercial sale

Cooperation Minister Amit Shah on Wednesday exhorted farmers to maximise the use of liquid nano DAP and urea, saying extensive usage of these farm inputs will make India 'Atmanirbhar' in fertiliser production and reduce import dependence. Launching the IFFCO's nano (liquid) DAP fertiliser for commercial sale at Rs 600 per 500 ml bottle, less than half of the current price of conventional DAP (di-ammonium phosphate), the minister said the liquid farm inputs will help increase quality and quantity of agriculture production, and also help in conserving soil health. One bag of conventional DAP (50 kg) costs Rs 1,350. The benefits of using liquid fertilisers include soil conservation, higher crop yield, and easy transportation and storage, besides reducing import bills. Shah said 60 per cent of India's population is associated with agriculture and related activities and this "revolutionary development" will help the country become 'Atmanirbhar' (self-reliant) in the field of ...

Yara International looking aggressively at clean ammonia: Global CEO

In a Q&A, Svein Tore Holsether says his company is looking at more expansions in India as well

Urea imports to fall in FY23, 7.4 mn tonne imported till March 24: Govt

India has imported 74.86 lakh tonne of urea till March 24 and is set to register a year-on-year decline this fiscal. In a written reply to the Rajya Sabha, Minister of State for Chemicals and Fertilisers Bhagwanth Khuba shared the details of the import of urea in the last five years. As per the data, the country has imported 74.86 lakh tonnes up to March 24 of the current financial year. Urea imports stood at 91.36 lakh tonnes in 2021-22 fiscal, 98.28 lakh tonnes in 2020-21, 91.23 lakh tonnes in 2019-20 and 74.81 lakh tonnes in 2018-19. "It may be learnt from the above table that import of urea has increased from the year 2018-19 to 2020-21, however, it has decreased in the year 2021-22 and 2022-23," Khuba said. IFFCO commenced the commercial production of nano-liquid urea from August 1, 2021. Nano urea production stood at 290 lakh bottles (500 ml each) last fiscal and 452.11 lakh bottles up to March 21 this fiscal.