IFFCO to launch Nano Urea
Indian Farmers Fertiliser Cooperative (IFFCO) will launch Nitrogen fertilizer-based Nano Urea in market in June 2021.
A 500-ml Nano Urea is equivalent to 45kg of normal urea. 500 ml urea costs around 240 rupees. Apart from that, it will reduce input cost of farmers by 15% and cultivation will increase the yield by about 20%.
What is Nano Urea?
Urea produced from nano-technology to improve the nutrients efficiency of the crops are called as nano urea. Nano urea is produced in two ways:
- First, quinhydrone mixed liquor is prepared.
- Then, this mixture is spread onto calcium cyanamide granules to form nano urea.
When it was allowed in India?
Commercial use of nano urea was allowed in India in November 2020.
Significance of nano urea
India uses 350 lakhs metric tonnes of urea per year. Use of nano-urea will reduce the consumption by half in turn saving about 600 crore rupees subsidy provided by government. Also, it will reduce India’s dependence on import of urea.
Indian Farmers Fertiliser Cooperative Limited (IFFCO)
IFFCO is multi-state cooperative society involved in manufacturing and marketing of fertilisers. It is established in 1967 and headquartered in New Delhi. It comprises of 57 member cooperatives. Thus, it is the biggest co-op in world by turnover on GDP per capita. It has 19% market share in Urea and 29% market share in complex fertilisers, which makes it largest fertiliser manufacturer of India.
Month: Current Affairs - May, 2021
Category: Economy & Banking Current Affairs
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