IFFCO inks pact for export of nano liquid urea to US
Leading fertiliser cooperative Indian Farmers Fertiliser Cooperative Ltd (IFFCO) on Thursday said it has signed an agreement with California-based Kapoor Enterprises Inc for export of nano liquid urea to the US.
Leading fertiliser cooperative Indian Farmers Fertiliser Cooperative Ltd (IFFCO) on Thursday said it has signed an agreement with California-based Kapoor Enterprises Inc for export of nano liquid urea to the US. The agreement was signed on June 21 in the backdrop of Prime Minister Narendra Modi's visit to the US.
"IFFCO now started exporting ...Nano liquid urea to the USA," the cooperative said in a statement. IFFCO, however, did not provide any details about the quantity and value of the contract it has bagged from Kapoor Enterprises. Currently, the cooperative is exporting more than 5 lakh bottles of nano liquid urea to more than 25 countries.
In June 2021, IFFCO launched the world's first nano urea fertiliser, while nano DAP in April this year. A 500-mililitre bottle of IFFCO nano urea liquid will replace at least one bag of conventional urea. The bottle can significantly bring down the cost of logistics and warehousing, the cooperative said.
IFFCO has already sold more than 5.7 crore bottles of nano liquid urea in India since its inception in the commercial market, it added. Nano urea has been found to be effective and efficient for plant nutrition.
A report by International Rice Research Institute (IRRI) stated that India can reduce Green House Gas (GHG) by 4.6 million tonnes of carbon dioxide equivalent, if the country brings 50 per cent of its rice area under nano urea as per the preliminary report by Regional Rainfed Lowland Rice Research Station, Gerua (Assam) and IRRI-ISARC trials (Kharif 2021).
Another report by E&Y said that "GHG saving from the usage of 5 bottles of nano urea is equivalent to 1 tree planted", the statement added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
06:04 PM IST