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HomePosts Tagged "Kharif season"
Agro chems – Chemicals, Agro chems – Fertilizers, AgroPolicy, India

Dr Mansukh Mandaviya reviews the availability and use of fertilisers in India 

Dr Mansukh Mandaviya Union Minister of Chemicals and Fertilisers, Health & Family Welfare interacted with State Agriculture Ministers on the availability and use of fertilisers in the country. During the meeting, he also reviewed the progress of nano urea, nano DAP and the promotion of alternate fertilisers at the field level and steps initiated by the States in this regard.

At the outset, Dr Mandaviya informed all the States that there is adequate availability of fertilisers in the country with the present level of 150 LMT stocks. This stock will not only take care of the ongoing Kharif Season but will also ensure a comfortable opening for the forthcoming Rabi Season.

Dr Mandaviya highlighted the necessity of reducing the excessive use of chemical fertilisers to save soil. He reiterated that Union Government has already taken a step in the form of the PM PRANAM scheme. The efforts also include the introduction of slow-release Sulphur Coated Urea (Urea Gold), nano urea, nano DAP etc. to promote the use of alternate fertilisers to save mother earth. The State Government expressed the willingness to be active participants in this resolve.

There was a discussion on the initiative of PMKSKs across the country which are acting as One-Stop-Shop catering to all the needs of farmers in one place. He appealed to all the State Agriculture Ministers and State Government Officials to regularly visit these PMKSKs and spread awareness among farmers.

Dr Mansukh Mandaviya reviews the availability and

Acts & Schemes – Centre, AgroPolicy, Schemes - Govt, Sustainability

CCEA approves continuation of Urea Subsidy Scheme; Rs. 3,68,676.7 Crore committed for urea subsidy for 3 years

The Cabinet Committee on Economic Affairs (CCEA) approved a unique package of innovative schemes for farmers with a total outlay of Rs.3,70,128.7 crore. The bouquet of schemes is focused on the overall well-being and economic betterment of farmers by promoting sustainable agriculture. The initiatives will boost farmers’ income, strengthen natural/organic farming, rejuvenate soil productivity, and ensure food security.

The CCEA approved the continuation of the Urea Subsidy Scheme to ensure constant availability of urea to the farmers at the same price of Rs 242/ 45 kg bag excluding taxes and neam coating charges.  Out of the above-approved package, Rs. 3,68,676.7 Crore have been committed for urea subsidy for three years (2022-23 to 2024-25). This is apart from the recently approved Nutrient Based Subsidy of Rs 38,000 Crore for the Kharif season for 2023-24. The farmers need not spend extra for the purchase of urea, and this will help moderate their input costs. At present, the MRP of urea is Rs.242 per 45 kg bag of urea (exclusive of charges towards neem coating and taxes as applicable), whereas the actual cost of the bag comes to around Rs. 2200.  The Scheme is wholly financed by the Government of India through budgetary support. The continuation of the Urea Subsidy scheme will also maximise indigenous production of Urea to reach self-sufficiency levels.

Due to ever-changing geopolitical situations and increased raw material prices, Fertiliser prices have been increasing multifold globally over the years. But the Government of India has protected its farmers from steep fertiliser price rises by increasing the fertiliser subsidy. In its endeavour to safeguard our farmers, the Government of India has increased the Fertiliser subsidy from Rs. 73,067 Cr in 2014-15 to Rs. 2,54,799 Cr in 2022-23.

By 2025-26, eight Nano urea plants with a production capacity of 44 Crore bottles equaling 195 LMT of conventional urea will be commissioned. Nano fertiliser releases nutrients in a controlled manner contributing to higher nutrient use efficiency while costing less to the farmers. The application of Nano Urea has demonstrated an increase in crop yield.

Setting up and revival of 6 urea production units at Chambal Ferti Ltd. – Kota Rajasthan, Matix Ltd. Panagarh West Bengal, Ramagundam-Telangana, Gorakhpur-UP, Sindri-Jharkhand and Barauni-Bihar since 2018 is helping to make the country atmanirbhar in terms of urea production and availability. Indigenous production of urea has increased from the level of 225 LMT during 2014-15, to 250 LMT during 2021-22. In 2022-23, production capacity has increased to 284 LMT. These along with Nano Urea Plants will reduce our current import dependency on urea and finally make us self-sufficient by 2025- 26.

CCEA approves continuation of Urea Subsidy Scheme;

Company News, Finance, India

Best Agrolife Board has also recommended a dividend of 30 per cent (Rs. 3 per share), which is a 50 per cent jump over last year

Best AgrolifeLimited recorded revenue of Rs. 1746 crores increased by 44 per cent in FY 2022. Best Agrolife Board has also recommended a dividend of 30 per cent (Rs. 3 per share), which is a 50 per cent jump over last year. The company reported financial results for the Quarter and Year ended March 31st, 2023.

Commenting on results, Vimal Alawadhi, Managing Director, Best Agrolife Limited, said, “I am delighted to inform you that we have delivered strong revenue from operations of Rs. 1,746 cr. which is a robust growth of 44 per cent over FY22. Our constant focus on introducing innovative products to cater to farmer’s needs has resulted in BAL introducing many specialised combination products including a patented novel combination Ronfen in FY23 which drove growth during the year. We have also expanded our margins by 427 bps during the year which was driven by a change in product mix.

Q4FY23 was difficult for the industry at large due to higher channel inventory and excess supply from China at lower prices. Best Agrolife was also affected by this as its branded product portfolio is more focused on the Kharif season. The company is working towards introducing more branded products which are focused on the Rabi season which will improve the breadth of the portfolio and will also make the portfolio more balanced which is currently skewed more towards the Kharif season.

Overall, the company has an exciting product pipeline ready to be launched in FY24 which is in line with its strategy of introducing more patented and specialised combination products which will help continue strong growth momentum as well as improve the margins in FY24.”

Best Agrolife Board has also recommended a