A 50:50 joint venture between India’s Coromandel International and the Chilean main fertilizer make SQM is setting up a 15,000-tonne-per-annum capacity plant, of water-soluble fertilizers. The output of water-soluble fertilizers are crop specific products which involve relatively lower labour, power and water requirements. Currently, India consumes about 70,000 tpa, the total of which are imported, 10,000 by Coromandel.
Initially they will focus on vegetables, fruits, cotton, chilli and sugarcane crops. The water soluble products have in India a price tag ranging between Rs 60,000 (some 1,213 US dollars) and Rs 100,000 a tonne (some 2,021 US dollars).