Biofertilizers are cost effective, eco-friendly and when they are required in bulk can be generated at the farm itself. They increase crop yield upto 10-40% and fix nitrogen upto 40-50 Kg. The other plus point is that after using 3-4 years continuously there is no need of application of biofertilizers because parental inoculums are sufficient for growth and multiplication. They improve soil texture, pH, and other properties of soil. They produces plant growth promoting substances IAA amino acids, vitamins etc. They have 75% moisture and it could be applied to the field directly. Biofertilizers contained 3.5% - 4% nitrogen, 2% - 2.5% phosphorus and 1.5% potassium. In terms of N: P: K, it was found to be superior to farmyard manure and other type of manure.
Biofertilizers and PROM are a product that is likely to be commercially promising in the long run once information becomes available adequately to producers and farmers through experience and communication. In India, government has been trying to increase the application of bio fertilizers along with modern agrochemicals.
With the increasing pressure on global food production and development in technologies of fertilizer production, the demand for fertilizers is expected to increase, which in turn would enhance the growth of the biofertilizers market. As a whole it is a good project for new entrepreneurs to invest.
Few Indian Major Players are as under
· Abellon Agrisciences Ltd.
· Agro Extracts Ltd.
· Champion Agro Ltd.
· Jupiter Biotech Ltd.
· Jutlibari Tea Co. Ltd.
· Krishna Industrial Corpn. Ltd.
· Madras Fertilizers Ltd.
· National Fertilizers Ltd.