The Indian Farmers Fertiliser Cooperative Limited (IFFCO) is ranked first among the world's top 300 cooperatives. According to the 2022 edition of the 11th Annual World Cooperative Monitor (WCM) report published by the International Cooperative Alliance, the ranking relates the enterprise's turnover to the country's wealth (ICA).
IFFCO has approximately 36,000 cooperative members. IFFCO has developed the world's first nano fertiliser, with the goal of reducing the use of chemical fertiliser and increasing crop productivity — a giant step towards sustainable farming, as well as increasing farmers' income.
IFFCO has also been ranked first among the top ten agricultural cooperatives in the world. During an international webinar on Thursday, the International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (Euricse) launched the 2022 edition of the World Cooperative Monitor.
As they did last year, two Indian producer cooperatives ranked first and second in the Top 300 ranking based on the ratio of turnover to GDP per capita: The Indian Farmers Fertiliser Cooperative (IFFCO) and Gujarat Cooperative Milk Marketing Federation Limited. The French Groupe Credit Agricole is third. "This is a proud moment for IFFCO as well as the Cooperative brotherhood."
"This is a tremendous accomplishment for all of us in the Indian cooperative movement," said US Awasthi, Managing Director of IFFCO. Notably, the majority of the top 300 enterprises are from the most developed countries, including the United States (71 enterprises), France (42 enterprises), Germany (31 enterprises), and Japan (22 enterprises).
The World Cooperative Monitor is a project that aims to collect comprehensive economic, organisational, and social data on cooperatives around the world. It is published annually to report on the Top 300 cooperatives' critical economic and employment data. This year's edition marks the report's second decade of reporting on economic and social impact, delving deeper into digitalization and cooperative identity.
