World Cooperative Monitor: Kribhco among top ten in sectoral ranking

In the recently released World Cooperative Monitor report for 2023 by the International Cooperative Alliance (ICA), Kribhco, the second-largest fertilizer cooperative in India, secured the sixth position in the sector rankings.

The announcement took place during the launch event of the 2023 edition of the World Cooperative Monitor, a collaborative effort between the ICA and the European Research Institute on Cooperative and Social Enterprises (Euricse).

Within the Agriculture and Food Industries category, Kribhco emerged as the sixth-ranked cooperative. This assessment is determined by the ratio of turnover to gross domestic product (GDP) per capita, offering a comprehensive view of the cooperative’s economic standing within the sector.

The Agriculture and Food Industries section encompasses a spectrum of cooperatives operating throughout the entire agricultural value chain. This spans activities ranging from the cultivation of agricultural products and livestock farming to the industrial processing of agricultural goods and animals.

It includes both agricultural producers’ cooperatives and consortia of cooperatives that engage in the processing and marketing of agricultural products for their members.

Kribhco’s commendable performance across various operational domains translated into a significant profit before tax, amounting to Rs 763.16 crore during the fiscal year 2022-23. Notably, the society achieved a urea production of 22.21 Lakh MT and ammonia production of 13.24 Lakh MT during the same period, demonstrating a remarkable capacity utilization of 101.20% and 106.16%, respectively.

Furthermore, Kribhco successfully sold 57.08 lakh metric tonnes of fertilizers, encompassing urea and complex fertilizers, in the fiscal year 2022-23.

In a noteworthy development, Kribhco’s wholly-owned subsidiary, KRIBHCO Fertilizers Limited (KFL), achieved record-breaking production figures. KFL produced an unprecedented quantity of 10.95 Lakh MT Urea and 6.74 Lakh MT Ammonia, achieving remarkable capacity utilizations of 126.65% and 134.30%, respectively.

These achievements underscore Kribhco’s commitment to excellence and its significant contributions to the agricultural and cooperative landscape in India.