Grasim Industries to sell fertiliser business for Rs 2,649 crore

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Grasim Industries plans to sell the company’s fertiliser business, Indo Gulf Fertilisers (IGF) to Indorama India (IIP), a subsidiary of Indorama Corporation, Singapore, for a cash consideration of Rs 2,649 crore. Analysts are calling it a slump sale. Indo Gulf Fertilisers is engaged in manufacture, trade and sale of urea and other agri-inputs with a 1.2 MTPA urea […]

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India announces 12-point boost for economy to add to festival cheer

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Indian Finance Minister Nirmala Sitharaman on Thursday announced financial outlays for 12 sectors, including a fertiliser subsidy as well as those for housing and infrastructure that will likely drive demand for key commodities. She said the announcement was the third instalment of Atma Nirbhar Bharat (Self Reliant India) programme that was meant to establish the country […]

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India’s higher crop acreage to boost fertiliser sales by 10%

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Overall sales in the fertilizer market is set to increase by at least 10% in the upcoming winter season due to great soil condition for crop development and steady prices of the raw materials, said ratings agency, ICRA. “In comparison to previous years, fertilizer sales for the current Rabi season will be higher. The climate and the constant rain have created […]

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Exports of agro- and specialty chemicals offsets loss of domestic demand in India: ICRA

Even as domestic demand has remained subdued, improved export demand and positive outlook for segments like agro-chemicals and surfactants have reduced the COVID-19 impact on specialty chemicals, according to a report by ratings agency ICRA. The Indian specialty chemical sector, which had witnessed healthy revenue growth in the past few years aided by growth in […]

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Malaysian Palm Oil Board to improve ties with India in order to boost crude palm oil prices

Crude palm oil prices may rise to 2,300-2,400 ringgit ($528.37-$551.34) per tonnne in the coming months as Malaysia’s relationship with top importer India improves, industry regulator the Malaysian Palm Oil Board (MPOB) said this week. The newly appointed MPOB Chairman Ahmad Jazlan Yaakub said in a statement the rally will come as a relief to […]

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India launches helpline to ease agri supply-chain breakdown as it prepares to partially lift COVID-19 lockdown

India, a horticulture powerhouse, has launched a helpline to support its vital agriculture sector that loses vast sums of money due to bottlenecks caused by corruption and other regulatory issues that delay inter-state transportation of fruits, vegetables and agri inputs. Agriculture and farmers Welfare Minister Narendra Tomar launched the All India Agri Transport Call Center, […]

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