The Indian Farmers Fertiliser Cooperative Limited (IFFCO) has been ranked ‘number one Cooperative’ among the top 300 cooperatives in the world in the 2021 edition of the 10th Annual World Cooperative Monitor (WCM) report, under the Agriculture and food industries section, withholding its position from 2020 edition.
- WCM is a project designed to collect robust economic, organizational, and social data about cooperatives worldwide.
- The 2021 WCM report is published by the International Cooperative Alliance (ICA) and European Research Institute on Cooperative and Social Enterprises (Euricse).
Agriculture and food industries:
i.IFFCO has ranked number one under the Agriculture and food industries section of WCM ranking, which includes all cooperatives that operate along the entire agricultural value chain, starting from the cultivation of agricultural products and livestock farming to the industrial processing of agricultural products and animals.
ii.The section was further classified into two categories of Top 300 based on turnover in USD and the Top 300 turnover over GDP (Gross Domestic Product) per capita (IFFCO became top under this category).
TOP 5 Turnover/GDP Per Capital:
|2||Gujarat Cooperative Milk Marketing Federation Ltd||India|
|4||Nonghyup (National Agricultural
Cooperative Federation – NACF)
|Republic of Korea|
In overall ranking of top 300 cooperative organisations, IFFCO ranked at 60 in 2021 WCM report.IFFCO ranked 65 in the 2020 WCM Report.
i.The top ranking signifies that IFFCO is contributing significantly to the GDP and economic growth of the nation.
ii.World’s 1st Nano Urea Introduced by IFFCO for the farmers across the World.IFFCO is planning to launch IFFCO Nano DAP and other nanotechnology-based products.
iii.IFFCO established four oxygen plants in Uttar Pradesh, Gujarat, and Odisha at its own expense to provide free oxygen to the population during COVID-19.
Recent Related News:
The NABARD (National Bank for Agriculture and Rural Development) and NCDC (National Cooperative Development Corporation) have selected IFFCO Kisan Sanchar Ltd, an arm of Indian Farmers Fertiliser Cooperative Limited (IFFCO) for setting up 17 Farmer Producer Organizations (FPOs) in Gujarat covering its 6 districts to cater various kinds of crops.
About Indian Farmers Fertiliser Cooperative Limited (IFFCO):
Establishment – 1967
MD & CEO – DR. U. S. Awasthi
Headquarters – New Delhi, Delhi