The world wide awareness of the need of use of renewable forms of energy, environmental problems, high cost of fertilizers and recently gaining momentum of organic farming has revived the use of organic material for crop production. Increasing interest about the organic farming, disposal problem of the agricultural and industrial wastes causing pollution hazards, necessitated this study. To our knowledge, decay kinetics and phosphorus solubilization of different organic wastes composted with rock phosphate and by using different acidic industrial effluents as a wetting agent, have not been quantified so far. The present study thus compared the decay kinetics and phosphorus solubilization of the agricultural and industrial wastes/effluents in aerobic decomposition process. The chopped rice straw was composted with Mussoorie rock phosphate (4:1 w/w). Acidic industrial effluents were used as a wetting agent (70%) in composting pits under aerobic conditions. Organic carbon and different forms of phosphorus (total, citrate soluble and water-soluble) were determined periodically. Two first order kinetics were found to be valid for describing organic waste decomposition. Ten different treatments included in the study were found to consist of two components: (1) a fast decaying component A, and (2), a slow decaying component B. The use of industrial effluents instead of water was found to increase the fast decaying component of composting. The compost prepared by using Mussoorie rock phosphate with glue waste and distillery effluent was found to contain the maximum available and water-soluble phosphorus (0.35 g kg-1) which is considered as readily available P to the plants. Thus rice straw compost with rock phosphate and acidic industrial effluents was not only an efficient phospho-compost but also eco-friendly. In conclusion, we have been able to show the effective utilization of low grade rock phosphate in making phospho-compost in combination with solid wastes and acidic industrial effluents. Being ecofriendly, their use for phospho-composting may also solve to some extent the disposal and environment pollution problems.