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The Indian Farmers Fertiliser Cooperative Ltd. (IFFCO), the country’s largest producer of fertilisers, has formally launched a joint venture with Japan’s Mitsubishi Corporation for the manufacture of agrochemicals in India.
According to an IFFCO statement on Wednesday, it will hold 51 per cent stake in the company that will be known as ‘IFFCO-MC Crop Science Ltd.’, while the rest will be held by Mitsubishi Corporation.
“As a cooperative for farmers, we were getting continuous demand from farmers across the country to make available good quality insecticides, fungicides and weedicides, apart from quality fertilisers, which IFFCO is supplying through cooperative societies,” said BS Nakai, Chairman, IFFCO.
IFFCO has a strong presence in the fertiliser market and Mitsubishi Corporation, which has expertise in agrochemical business internationally, are going to have a synergy to make available quality agrochemicals at reasonable price to Indian farmers even in far-flung areas, he added.
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