Chem / Fertilisers
Crystal Crop acquires I&B Seeds to expand vegetable, flower seed business
Crystal Crop Protection has acquired I&B Seeds to bolster its presence in the vegetable and flower seed market. The acquisition, funded by internal accruals, is expected to contribute 30% to Crystal Crop's seed business. The deal includes I&B Seeds' brands 'Indus' and 'SPS'. Crystal Crop aims to diversify its offerings and provide farmers with high-quality seeds.
BASF, AM Green B.V join forces to explore business opportunities in low-carbon chemicals with RE
BASF and AM Green B.V. signed an MoU to explore low-carbon chemical production using renewable energy in India. The agreement includes feasibility studies and a non-binding intent for BASF to purchase 100,000 tons of ammonia annually from AM Green's renewable energy-powered plants, complying with EU standards.
Thermax to acquire Buildtech Products India
Thermax has announced its acquisition of Buildtech Products India for approximately Rs 72 crore, aiming to enhance its footprint in the construction chemicals sector. This acquisition, involving a 100% stake, underscores Thermax's commitment to supporting India's infrastructure development with advanced chemical solutions. Buildtech, established in 1995, specializes in admixtures and other products used in major infrastructure projects.
Global carbon black industry projected to grow by 50% to USD 42 bn by 2032
The global carbon black market is projected to grow by 50 per cent, reaching USD 42 billion by 2032, driven by increasing demand in the Asia-Pacific region. Investments in the global tyre industry and rising exports from India will play significant roles in substantiating this growth.
Mid-East crisis may inflate fertiliser subsidy bill by 9%
The Indian government projects an 8-9% rise in the FY25 fertiliser subsidy due to the Middle East crisis, leading to price increases. Current subsidy is ₹1.64 lakh crore, down from ₹1.88 lakh crore. Key Middle East suppliers and shipment issues may necessitate further budget adjustments.
Sudarshan Chemical Industries to acquire global pigment biz of Heubach Group for Rs 1,180 crore
Sudarshan Chemical Industries Ltd will acquire the global pigment business of Heubach Group for Euro 127.5 million. The deal includes operations in Germany and other countries. The acquisition aims to enhance Sudarshan's product portfolio and expand its market presence in Europe and the Americas. The transaction is expected to close in 3-4 months.
IFFCO invested Rs 2,000 crore since 2017 on nano fertilisers; expects demand to rise, says MD
IFFCO has invested around Rs 2,000 crore since 2017 on nano liquid urea and nano liquid DAP. The cooperative launched these innovative fertilisers to improve crop productivity and soil health. With significant annual investments in promotion, IFFCO aims to achieve 80% capacity utilisation in the next 2-3 years.
India key market for Syngenta, focus on innovation for farmers: CEO Jeff Rowe
Syngenta's CEO Jeff Rowe highlights India as a key market for the global agricultural company, focusing on innovation to support Indian farmers and enhance food security. The company plans to introduce new technologies in crop protection, biological products, and vegetable seed varieties, emphasizing sustainable and profitable farming practices.
Urea import dependency to fall to 10-15% from this fiscal, says Crisil
India's urea import dependency is expected to drop to 10-15%, according to Crisil. New plant operations and stable profits will enhance domestic production. Government's adequate subsidy allocation ensures industry stability. The industry, which gets 80-85% sales from subsidies, benefits from timely disbursement and steady working capital cycles.
Green Ammonia Scheme: Bidders invited to visit procurers' fertiliser plants
The government had begun allowing companies to visit fertiliser units to gather information necessary for green ammonia production under the SIGHT Scheme. These visits were scheduled from August 27 to September 10. The deadline for bids was September 3, possibly extending. The scheme facilitated agreements between ammonia producers and buyers, with a yearly capacity of 739,000 tonnes.
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India imported 18.65 lakh tonne urea, 22.58 lakh tonne P&K fertilisers from China in 2023-24
In 2023-24, India imported 18.65 lakh tonnes of urea and 22.58 lakh tonnes of phosphatic and potassic (P&K) fertilizers from China. To address the urea demand gap, India has revived several domestic fertilizer plants, adding 50.8 lakh tonnes per year. P&K fertilizers are imported commercially under the Nutrient Based Subsidy Scheme.
CCI approves merger of Mangalore Chemicals & Fertilisers with Paradeep Phosphates
The Competition Commission of India has approved the merger of Mangalore Chemicals & Fertilizers with Paradeep Phosphates Ltd, and Zuari Maroc Phosphates' share acquisition in Mangalore Chemicals. It also cleared Bunge's 100 per cent acquisition of Viterra, with Viterra's shareholders receiving Bunge stock and owning minority stakes in the company.
FMC obtains registration in India for Isoflex(R) active and Ambriva(R)herbicide
FMC, a global agricultural sciences company, has received registration in India for Isoflex® active and Ambriva® herbicide for use in wheat. This new development promises to offer an effective solution for controlling Phalaris minor, a weed that has become resistant to other herbicides.
Govt to make intervention to address challenges faced by chemical industry, boost growth: Min
Union Chemicals and Fertilizers Minister Jagat Prakash Nadda announced government interventions to support the chemicals and petrochemicals industry's growth, aligning with India's goal of becoming a USD 5 trillion economy. Speaking at the launch of the 13th India Chem event, Nadda assured necessary policy adjustments and encouraged the industry to reduce imports, enhance R&D, and improve skills. The event, themed "Advantage Bharat: Indian Chemicals and Petrochemicals Paving the Future," is set for October in Mumbai. Anupriya Patel highlighted the sector's crucial role in economic development and called for investment-friendly reforms.
Proposal to increase customs duty to 20% on agrochemicals will hurt interests of farmers: Report
CropLife India, representing 17 research-driven crop science companies, opposes a proposal to increase customs duty on agrochemical formulations to 20%. They argue that such a move, based on misinformation about high formulation imports, would adversely affect farmers by raising farming costs and limiting access to newer, safer products.
Air Liquide India sets up manufacturing unit in Mathura with Rs 350 cr
Air Liquide India is a key supplier of industrial gases to hospitals and industries from its various production facilities situated in northern and western regions of India. Air Liquide India Managing Director Benoit Renard said, "This new plant is a key step in our expansion, fostering growth in both industrial and healthcare sectors throughout the region".