IFFCO Full Form- Indian Farmers Fertiliser Cooperative Limited
Updated on 23 February, 2024
upGrad Abroad Team
upGrad abroad Editorial Team
)What is IFFCO? The full form of IFFCO is Indian Farmers Fertiliser Cooperative Limited.
IFFCO, an acronym for Indian Farmers Fertiliser Cooperative Limited, is a cooperative association spanning many states. Cooperative Societies of India owns all of IFFCO.
The manufacturing and marketing of fertilisers is the society's business. India's New Delhi serves as the home base for IFFCO.
It was founded in 1967 with 57 member cooperatives and, according to World Cooperative Monitor 2021, has grown to be the largest cooperative in the world in terms of GDP per capita, with around 35,000 member cooperatives serving more than 50 million Indian farmers.
IFFCO is the biggest fertiliser company in India, with a about 19% market share in urea and a roughly 31% market share in complex fertilisers (P2O5).
Recent Developments of IFFCO
2000s- As FFCO gained autonomy, it increased its connections and footprint both domestically and internationally. In 2000, IFFCO Tokio General Insurance Company Ltd. was founded, and insurance products tailored to the needs of rural areas were introduced. A stake in the Oman India Fertilizer Company was acquired by IFFCO. The Kisan International Trading FZE (KIT), a fully owned subsidiary for imports, exports, and logistics assistance for fertilisers, raw materials, and intermediates, was established in Dubai when the Paradeep facility was purchased. Additionally, IFFCO expanded into Jordan, where it founded Jordan India Fertilizer Company L.L.C. and supported IFFCO Kisan Sanchar Ltd., an innovative initiative aimed at providing rural India with the advantages of contemporary mobile communications.
2010- In order to enhance its capability for producing fertiliser domestically, IFFCO initiated a number of growth and diversification initiatives. Additional plant acquisitions, international joint ventures, and the implementation of other energy-saving initiatives were also part of these strategies, which aimed to increase production effectiveness and reduce carbon emissions.