Indian Farmers Fertiliser Cooperative Ltd. (IFFCO) announced that it has signed a Memorandum of Understanding (MOU) with the Organization of Brazilian Cooperatives (OCB), Brazil’s national confederation of cooperatives, for setting up a Nano Urea fertilizer plant in the Latin American country with mutual collaboration.
The Indian cooperative said the purpose of the MOU is “to express the intentions of the parties.” This MOU will remain valid for two years from June 8, 2021, the date of its execution, unless extended by mutual agreement.
IFFCO launched Nano Urea Liquid on May 31 and plans to start production of the new product in India this month. It has conducted some 11,000 farmer field trials (GM June 4, p. 32). The Indian cooperative, which is based in India’s Karnataka state, said the new product could cut conventional urea use by at least 50 percent.
“Besides setting up a Nano Urea plant in Brazil, under the MOU both parties intend to share best practices, create mutual opportunities, offer visibility, develop professional relationships, build resources and better service delivery, [innovate,] and strengthen cooperative ties between them and their members,” said IFFCO in a June 10 statement.
The scope of the MOU with OCB can be further expanded into mutually acceptable fields and areas of interest with the mutual consent of the parties, according to the statement.