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Aimed at reducing the conventional urea requirement for farming activities, Iffco has rolled out its newly introduced Nano Urea liquid in the Kerala market.
A Manikandan, State Marketing Officer, Iffco Kerala said the total urea sales in the State is estimated at 1.5 lakh tonnes valued at ₹100 crore. With the launch of the new product, the sale of conventional urea is expected to be reduced considerably to a certain extent.
Nano urea liquid is a source for nitrogen, a major essential nutrient required for proper growth and development of crops. Priced at ₹240 for 500 ml, the product is cheaper than the conventional urea bags.
Referring to Iffco’s fertilizer sales in the State, he said the company has a business turnover of ₹120 crore in the last financial year with a market share of 20-25 per cent. “We are a major player in the Kerala market having a 10 per cent yearly growth,” he said.
Iffco sells 30,000 tonnes of complex fertilisers out of the market size of 1.25 lakh tonnes, while the sale of DAP was 15,000 tonnes out of the total market size of 45,000 tonnes. Besides, the bio-fertiliser and organic product sales in the State would come around ₹100 crore, he added.
Industry sources pointed out that the country is depending on urea imports to meet the requirements. In 2019-20, the production of urea was only 244.35 lakh tonnes and the consumption was 336 lakh tonnes, a gap of over 91 lakh tonnes.
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