KRIBHCO’s 39th Annual General Meeting to Focus on Agriculture & Co-operative Development

The Krishak Bharati Cooperative Limited (KRIBHCO), the premier fertiliser producing farmers’ cooperative society will be holding its 39th Annual General Meeting (AGM) in New Delhi tomorrow, September 5, 2019 with focus on Agriculture and Co-operative development.

"Around 600 members and directors of KRIBHCO are expected to attend the AGM with focus on strengthening Agriculture development and co-operative system, to enhance the urea installed capacity and increase its market share, to diversify into other core sectors like power, port, infrastructure and rural retail and to transfer technology for modern farming and improving farmers livelihood", said Dr Chandra Pal Singh Yadav, Chairman of KRIBHCO in a press statement.

"The major highlight of the 39th AGM will be an Agri Exposition where latest farming technologies will be displayed, farmer’s meeting  and rural development. The farmers meet will help educate and train cultivators and provide free testing facilities for soil nutrients and irrigation water", said Dr Yadav.

N Samasiva Rao, Managing Director, Kribhco said, "Kribhco despite facing procedural challenges including introduction of Goods and Services Tax (GST) changes in the disbursement of subsidy on fertilisers by government and difficulties in generating Direct Benefit Transfer (DBT) due to systemic changes the society has poster Pre Tax Profit of Rs 162.56 Crore during the year 2018-19  and declared a dividend of 18 per cent on the paid up share capital."  

“KRIBHCO’s  during the year 2017-18  sold  44.03 lakh Metric Tonne of Urea, this included output from joint venture plants at Oman and Shahjahanpur in Uttar Pradesh. It also produced 3,69 lakh quintals  and sold 3.55 lakh quintals of certified seeds of various crops . This included about about 99,000 packets of BT Cotton seeds and other products .4.097  quintals of Maize, 203  quintals of  hybrid paddy and sold  compost, solid and liquid bio-fertilisers”, told Mr. Rao.  

Mr Rao said, "Kribhco has completed all completed all environment formalities  for setting up  up of DAP/NPK   fertiliser plant near Krishnapatnam in Andhra Pradesh .The project is being set up in partnership with OCP of Morocco. KRIBHCO & OCP issued  invitation bid  for selection of engineering process contractor but found bids received  too high.Soon further decision will be taken on the project”.

“At present, Kribhco has one urea plant in Hazira in Gujarat having an annual capacity of 2.2 million tonnes. Besides, the cooperative has one plant in Shahjahanpur in Uttar Pradesh where the Shyam Group has exit the  partnership having a capacity of 1 million tonnes and one plant in Oman in partnership with IFFCO”, told Mr. Rao.

He added  that KRIBHCO apart from chemical fertilisers should also focus on eco friendly bio and organic fertilisers as the demand for these products are on constant increase.