Answer» Correct Answer - Option 2 : Indian Farmers Fertilizer Co-operative Limited
The correct answer is Indian Farmers Fertilizer Co-operative Limited. - Indian Farmers Fertiliser Cooperative Limited, also known as IFFCO.
- IFFCO is one of India's biggest cooperative society which is wholly owned by Indian Cooperatives.
- It is a Multi-state cooperative society engaged in the business of manufacturing and marketing of fertilizers headquartered in New Delhi, India.
- It was set up on 3 November 1967 with 57 member cooperatives.
- It is today the biggest co-op in the world by turnover on GDP per capita with around 35,000 member cooperatives reaching over 50 million Indian farmers.
- Objective:
- To enable Indian farmers to prosper through timely supply of reliable, high-quality agricultural inputs and services in an environmentally sustainable manner and to undertake other activities to improve their welfare.
- The cooperative was ranked 66th on the Fortune India 500 list of India's biggest corporations as of 2017 with a net worth of $2.3 billion as of March 2018.
- Recently, the Indian Farmers Fertiliser Cooperative Limited (IFFCO) introduced the world's first Nano Urea Liquid for farmers across the world.
- It is a nutrient (liquid) to provide nitrogen to plants as an alternative to conventional urea.
- It is developed to replace conventional urea and it can curtail the requirement of the same by at least 50%.
- It contains 40,000 mg/L of nitrogen in a 500 ml bottle which is equivalent to the impact of nitrogen nutrients provided by one bag of conventional urea.
- Conventional urea is effective 30-40% in delivering nitrogen to plants, while the effectiveness of the Nano Urea Liquid is over 80%.
- Its effectiveness has been tested in over 11,000 farmers’ fields for 94 crops like rice and wheat.
- An average 8% increase in yield has been witnessed.
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