Mahadhan Agritech Limited (MAL), a subsidiary of Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL), signed a pact with Israel's Haifa Group for agricultural innovation.
The two companies entered into an understanding to promote high performing specialty fertilisers to improve quality and productivity of crops in India and other countries, according to an exchange filing from DFPCL.
“This partnership with Haifa Group is yet another milestone in MAL’s journey towards transforming agriculture in India with customised crop nutrient solutions that deliver balanced and precise crop nutrition. Currently, over 6 million hectares of agricultural land are already supported by drip irrigation systems spread over most states. It encompasses a wide range of crops including fruits, vegetables, sugarcane, and many other field crops giving a ready platform to deploy the specialty water soluble fertilisers," the exchange filing said.
“The MAL-Haifa offerings will support agricultural practices that counter the vicious trend of water scarcity and also hugely enhance nutrient uptake and use efficiency in the plants. This will directly help achieve our Prime Minister's dream of doubling the farm incomes. In addition, these initiatives will also help reduce groundwater and air pollution. We believe this collaboration will bring positive change in the agricultural sector, thereby empowering farmers,” said Sailesh C Mehta, Chairman and Managing Director of DFPCL.
The partnership is expected to significantly speed-up MAL’s journey in the specialty crop nutrient market.
“I am pleased that we have entered into an agreement with Mahadhan Agritech to support Indian farmers by synergising our global expertise and resources with MAL’s on-ground expertise, we aim to proactively address the evolving needs of Indian agriculture and farmer preferences by leveraging the latest technologies. Through this collaboration, we will also take special practices and innovations of Mahadhan Agritech to other geographies in the developing world to improve yields and agri produce and quality,” said Motti Levin, CEO of Haifa Group, Israel.
Shares of Deepak Fertilisers and Petrochemicals Corporation Limited were trading at Rs 552.40 at 1 pm on April 19.