The Aryavarth Express
Agency (New Delhi): The Indian Farmers Fertiliser Cooperative Society, commonly known as IFFCO, is a significant example of a successful cooperative model. As of 2022, it was ranked as the No. 1 cooperative in the world by the Annual World Cooperative Monitor (WCM) report, which is a testament to its effectiveness and impact.
IFFCO operates as an agricultural cooperative, and its membership is open to various levels of agricultural cooperative societies in India, from the primary/village level to state and national cooperatives. With a substantial member base exceeding 35,500 societies, the majority of which are Primary Level Societies, IFFCO plays a crucial role in the agricultural sector of India. These member societies primarily focus on distributing IFFCO’s quality fertilizers to farmers, thereby supporting agricultural productivity and sustainability.
The cooperative owns five state-of-the-art plants in India, located in Kalol, Kandla, Phulpur, Aonla, and Paradeep. To address the demand and supply gaps in the Indian fertilizer industry, IFFCO has also expanded internationally with joint venture projects in countries like Oman, Jordan, and Senegal. Furthermore, its subsidiary in Dubai functions as an international trading arm, handling import, export, and logistics.
IFFCO’s diversification into various domains such as insurance, agrochemicals, e-commerce, rural finance, special economic zones, and Kisan Call Centres highlights its commitment to enhancing the overall welfare of farmers. Additionally, its initiative, the Indian Farm Forestry Development Cooperative Ltd. (IFFDC), focuses on crucial areas like afforestation, watershed development, rural livelihood, women’s empowerment, and corporate social responsibility.
Remarkably, IFFCO pays a 20% dividend to its members on their paid-up share, signifying its financial strength and profitability. The cooperative also shares its expertise globally with countries such as Brazil, Argentina, Mauritius, Jordan, Nepal, Bhutan, Sri Lanka, and the Philippines, fostering international cooperative development and business growth.
In its pursuit of sustainable and environmentally friendly agriculture, IFFCO’s recent launch of Nanotechnology-based products like Nano Urea and Nano DAP is a step forward in innovative agricultural solutions. As of March 31, 2023, the society’s paid-up share capital stood at Rs. 6126.5 million (Rs. 612.65 Crore), reflecting its robust financial position and growth trajectory.
IFFCO’s model exemplifies how cooperatives can play a transformative role in agriculture and rural development, blending economic success with social and environmental responsibility.