Project report for Bio Fertilizer

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Introduction

Use biofertiliser is recent developmented in india. First commercial production of biofertiliser in India began in 1956 and by late 1960’s when soybean was introduced, large scale production began. A biofertilizer  is a substance which contains living micro-organisms which, when applied to seeds, plant surfaces, or soil, colonize the rhizosphere or the interior of the plant and promotes growth by increasing the supply or availability of primary nutrients to the host plant. Biofertilizers are the product of fermentation process, constituting efficient living soil microorganisms. They improve plant growth and productivity through supply of easily utilizable nutrients. They are cost-effective and eco-friendly bioinoculants having great potential to enhance agricultural production in sustainable way. Biofertilizers are grouped into different types based on their functions such as nitrogen-fixing, phosphate-solubilizing, phosphate mobilizing, and other plant growth-promoting biofertilizers promoting plant growth by different mechanisms. Solid-state fermentation and submerged fermentation are two main types of fermentation, used for the production of biofertilizers. Each type of biofertilizer is prepared by selection of efficient microbial strain, its cultivation using specific nutrient medium, scale-up, and formulation using solid or liquid base. Knowledge about host specificity of the microbial strain and properties of soil and environmental conditions of the field are the important factors which determine the success of biofertilizer application. Recent developments in the field of microbial taxonomy, molecular biology, genetic engineering, metabolic engineering, computer science, and nanotechnology have played a significant role in the advancement of fermentation process of biofertilizer production. Hence, the production of biofertilizers having better efficiency, higher competitive ability, multiple functionality, and longer shelf life has become possible. Biofertilizers with such characteristics can be an effective substitute of chemical fertilizers.

Market potential & Strategy

The Indian fertilizer market was worth INR 467,500 Crores in 2019. Looking forward, the market is projected to reach INR 998,700 Crores by 2023, at a CAGR of around 13% during 2020 - 2023. Fertilizers have played a key role in the success of India's green revolution and subsequent self-reliance in food-grain production. The increase in fertilizer consumption has contributed significantly to sustainable production of food grains in the country. As a result, the demand of fertilizers has witnessed double digit growth rates over the past several years. Catalyzed by a strong growth in the country's population over the next five years, food demand is also expected to exhibit a strong growth. Conversely, as a result of increasing urbanisation levels, available arable land is expected to decrease. We expect fertilizers to play a key role in increasing the average crop yields per hectare. Despite strong historical growth, fertilizer consumption in India remains highly skewed. There are currently a number of states in India which still have a very low penetration of fertilizers. This leaves a lot of room for future growth. We expect a number of government and non-government awareness campaigns to educate farmers on the benefits of fertilizers. Promotion of fertilizers through television, radio and customized rural workshops are also anticipated to increase the consumption of fertilizers in the coming years.

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