- Activity: Agrochemical Business
- IFFCO's Shareholding: 51%
IFFCO eBazar Ltd. has an ambitious expansion plan by opening more centres to make available quality products and services at most reasonable prices to the farmers atIncorporated on 28 th August 2015, IFFCO-MC Crop Science Pvt. Ltd (IFFCO-MC) is a joint venture between Indian Farmers Fertiliser Cooperative Limited (IFFCO) and Mitsubishi Corporation, Japan. The company has equity participation of 51% from IFFCO and 49% from Mitsubishi Corporation. The company has 7 Directors on its Board of which, 4 are nominated by IFFCO and 3 by Mitsubishi Corporation, Japan. their doorstep across India.
Crop protection being a significant component of crop productivity management, educating farmers on use of right type of pesticide, right dosage, right method and right time of application has always been at the forefront of IFFCO-MC’s endeavour.
IFFCO-MC started its operations from Rabi 2015-16 covering 10 states which were expanded to 16 states during 2016-17. The coverage of remaining territories is also planned in near future to be able to cater to farmers pan India. The product basket has also been significantly enhanced from 18 products at the time of launch of the company to now 41 products in the three major categories of pesticides viz., herbicides, insecticides and fungicides. The products offered to the farmers have been carefully chosen with an intention to provide complete solution to farmers for their crop protection needs.
The business model of the company is farmer centric and transparent. The products are sold at the price printed on the packs and channel margin is also clearly defined. This practice is unique in the agrochemical trade and has been expected to create the trust among the farming community.
For the benefit of its customers, the company has introduced a novel insurance scheme named “Kisan Suraksha Bima Yojana”. Like business model of IFFCO-MC, this scheme is also unique in the agrochemical industry and provides insurance coverage to the customers of IFFCO-MC in the event of loss of life or disability due to accident of any kind.
The company has been maintaining a positive bottom line since inception.www.iffcomc.in