New Delhi, May 11: Fertiliser cooperative major Iffco has inked a long-term agreement with a Brazilian mining company Vale SA for the supply of rock phosphate, used in manufacturing phosphatic soil nutrients. “This is a step towards backward integration strategy of Iffco in order to strengthen its phosphate sourcing for manufacturing of phosphatic fertilisers in India,” Iffco managing director U.S. Awasthi said.
Mumbai, May 11: India’s forex reserves plunged $2.06 billion to $294.31 billion for the week ended May 3 amid a sharp fall in the value of gold reserves. Foreign exchange reserves went up $1.61 billion to $296.37 billion in the previous week.
