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Agro chems – Fertilizers, E-commerce

Company recorded fertilizer sale of 3.62 Lakh MT in April’ 20 compared to 2.12 Lakh MT in the same period last year.  

 

 

 National Fertilizers Ltd, a PSU under the ministry of Chemicals and Fertilizers registered a 71 percent growth in fertilizer sale in the month of April 2020. Despite the stringent restrictions in country in April due to COVID-19 lockdown Company recorded fertilizer sale of 3.62 Lakh MT in April’ 20 compared to 2.12 Lakh MT in the same period last year. 

Company had to face lot of logistics hurdles due to lockdown but despite that it left no stone unturned to make fertilizers available to farmers during this crucial period. C&MD, NFL, Manoj Mishra has appreciated the efforts of marketing team for achieving this highest-ever growth in sales in the month of April 2020. 

NFL produces urea at its five plants located at Nangal and Bathinda in Punjab, Panipat in Haryana and two plants at Vijaipur in M.P. Though the company has a production capacity of 35.68 Lakh MT of urea. With all these products, the company has recorded highest-ever sale of 57 Lakh MT in 2019-20, continuously for the fifth time in a row. Maintaining optimum operations of these plants in difficult times is a big success story especially towards fulfilling Government’s commitment to the farming community of the country. 

 Apart from this to support the efforts of Government to fight COVID-19, NFL employees’ have not only contributed one day’s salary of Rs. 88 Lakh towards PM CARES Fund, but have also contributed an amount of Rs. 63.94 Lakhs under CSR towards PM CARES Fund for the same objective. With this, the  Company has contributed total amount of Rs. 1.52 crores towards PM CARES FUND.

Company recorded fertilizer sale of 3.62 Lakh

E-commerce

 The company will create a cooperative and a pool of farmers across different regions. 

With the astounding success in last 6 years in Bridging the Gap between the Craftsmen of the Country and Modern Retail Space (by providing Premium Retail Space to all the Craftsmen in Malls, Metro Stations, Airports by taking care of all their risks), X5 Retail has initiated yet another concept in Farming where it focuses on the subject of Cooperative Contract Farming. Here too, bridging the GAP between Farmers and Market Place, increasing income levels of farmers and using our nation’s strengths in herbs and medicinal plants, X5 AGRO has started its logical, reasonable & ambitious journey. Contract farming is being done in the Country but in a much scattered manner. 

What X5 AGRO intends to do is:

  1. Create a Cooperative and a Pool of Farmers across different regions. Currently, it has initiated in UP, MP, Rajasthan and Uttarakhand.
  2. This will be 1 stop solution for all the farmers to get contract farming in their lands and get genuinely paid by the corporates and assured returns.
  3. Corporates too get one stop Solution to get their contract farming done with consistency in supplies and consistency in pricing.
  4. Both Farmers and Corporates interests are undertaken and guaranteed by X5 AGRO.
  5. In absence of Contract Farming, Farmer’s Crop Buy Back is assured by X5 AGRO.

 

X5 AGRO, will grow by itself and also ask all farmers in the cooperative to use their 20%-25% of their land in Non-Traditional Farming, with complete focus on herbs & medicinal/aromatic Plants. These crops, with all scientific intervention will be least risky as risks will be kind of covered with direct or in-direct Crop Buy Back Assurances of X5 AGRO.  

X5 AGRO not only will get the Farmers a suitable assured income for their Farm Lands but also will work upon creating markets for their crops. I.e. taking care of the headache of selling their Crops. With this, assurance of Income to Farmers will come. Not only assurance, but the returns per acre for the Farmer too will be increase with better yield. 

Besides these, the Company, will help all the Farmers in the Cooperative to get value addition tools (Small Scale / GramUdyog) for example, cold pressing machine for taking the Oil from the flaxseed crop. This will ensure that the Farmer Income for that Crop Doubles. There is also Extraction of Starch from Giloye, Distillation of Lemongrass crop, etc.

 X5 Agro, will work upon creating markets for the herbs Crops / Value Added Products in Domestic as well as Overseas Markets. The Work has already begun and there is good interest amongst buyers implying sure success is in the sight.

 Farmers from across all regions must become part of this X5 AGRO FPC and on the other hand corporates too have a unique opportunity for their Raw Material Assurances in terms of both quantities as well as quality.

With its unique preposition of farming / growing herbs & medicinal aromatic plants, farmers Cooperatives with full interests of Farmers covered. Buy Back of Crops from Farmers, Assistance in Value Addition of Farmer’s Crops, Market Creation both Domestic & Overseas will be taken care by company.

In the process taking help and Guidance of CIMAP, NABARD, Various Government Departments for empowering Farmers and Women in the Rural part of our Country.

X5 AGRO FPC is sure to bridge the GAP between farmers and market and assuring higher income to all the Farmers in the Co-operative. 

With herbs & medicinal / aromatic plants, The Company is working on the full integration right from farming till the last finished Product Market / Business Development. And the demand for these crops and their extracts is increasing each year in herbal cosmetics, health supplements and also in pharmaceutical industry.

 

 

 

 The company will create a cooperative and

Agrotech, E-commerce

He previously spent nearly two decades focused on quantitative traits and molecular breeding at Monsanto

 

Corteva, Inc. announced that Sam Eathington, Ph.D., will join the company as senior vice president and Chief Technology Officer. Reporting to Chief Executive Officer James C. Collins, Jr., Eathington will lead Corteva Agriscience’s research & development organization. He will oversee the company’s efforts to advance its industry-leading portfolio, helping to drive global agricultural innovation for the benefit of farmers, consumers and the planet.

Eathington joins Corteva from the Climate Corporation (part of Bayer Crop Science), where he was Chief Science Officer. He previously spent nearly two decades focused on quantitative traits and molecular breeding at Monsanto. He succeeds Neal Gutterson, PhD, who last October announced his plans to retire from the company in the second half of 2020.

 “We are delighted to welcome Sam Eathington to Corteva Agriscience,” Collins says. “For over 25 years, Sam has established himself as a driving force in agricultural innovation, deploying science and technology to solve some of the biggest challenges in agriculture and food production – experience that is especially valuable at this moment in time. Under his leadership, we will build on our strong foundation, continuing to leverage the unparalleled insights from our direct farmer relationships to introduce products and services that enable them to increase production and profitability while enhancing the environmental sustainability of their operations.”

Eathington says, “As a passionate advocate for agricultural advancement with a lifelong love of farming, I am excited to join Corteva Agriscience. I was immediately drawn to this role because of the Company’s dedication to helping farmers maximize the potential of their land and drive progress for generations to come. I look forward to working alongside my new colleagues to introduce innovations that create value for customers, address the evolving expectations of consumers and support the sustainable, long term growth of the business.”

 Collins continues, “Neal Gutterson established an R&D organization that is second to none in our industry, and a strong, balanced pipeline of seed, crop protection and digital products. We are deeply grateful for his contributions to Corteva Agriscience and our predecessor companies over the past six years and wish him all the best.”

 Following the merger of Dow and DuPont in 2017, Gutterson led the integration of the highly complementary capabilities from DuPont Pioneer, DuPont Crop Protection and Dow AgroSciences into a single, unified innovation organization. By 2023, that organization will have enabled the launch of 21 products with combined estimated peak sales of more than $6 Billion, including Enlist, Qrome, Pyraxalt and Rinskor. Gutterson will remain in place to assure a smooth transition.

 Prior to his role at The Climate Corporation, Eathington spent 17 years in roles of increasing responsibility and seniority in quantitative traits and molecular breeding at Monsanto, including Vice President, Global Plant Breeding. Eathington holds more than 50 patents, patent applications and publications and is an expert contributor to numerous periodicals. 

Additionally, Eathington is a sixth-generation Illinois farmer. His family has been farming the same land for more than 150 years. He holds a B.S. in agronomy, an M.S. in soybean breeding and genetics and a PhD in quantitative genetics and maize breeding, all from the University of Illinois, Urbana-Champaign.

He previously spent nearly two decades focused

North America, R&D, Seeds

The company received two patents for extending the shelf life of whole wheat by minimizing hydrolytic and oxidative rancidity 

Arcadia Biosciences, Inc., (Nasdaq: RKDA), a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, recently announced the U.S. Patent and Trademark Office has awarded the company two patents for extending the shelf life of whole wheat by minimizing hydrolytic and oxidative rancidity. 

The company also received notices of allowance for two additional patents extending earlier claims surrounding the extended shelf life of wheat and reduced gluten grains. The new patents bring the total number of patents in Arcadia’s Good Wheat portfolio of non-genetically modified (non-GM) wheat varieties to 22. 

“These patents further strengthen our intellectual property and technology portfolio, as well as our position as a leader in improving the nutritional value of crops,” said Randy Shultz, Ph.D., Chief Technology Officer at Arcadia Biosciences. “We continue to focus our research and development – and ultimately, our commercial activities – on bringing healthy innovation to wheat through our GoodWheat portfolio.” 

These patented traits apply to two of the company’s GoodWheat wheat varieties: extended shelf life and reduced gluten. Arcadia’s extended shelf life wheat has been shown to extend the storage life of whole wheat flour to more than 10 months, compared to standard whole wheat flour, which begins to oxidize immediately after milling and has an average shelf life of 10 to 30 days. The company’s reduced gluten variety of GoodWheat delivers all the taste and performance of traditional flour, but with 65 percent less allergenic gluten. 

Specifically, U.S. Patent 10,463,051 grants intellectual property protection for wheat plants with reduced Lipase 1 activity, leading to reductions in decomposition products of fatty acids that can affect the smell or flavor in the processed crop. The second patent, U.S. Patent 10,457,951, focuses on similar reductions in decomposition products of fatty acids driven by lipoxygenase enzymes.

 

The third patent, U.S. Notice of Allowance 16/580,975, extends Arcadia’s protection of extended shelf life technology in food and food products. Together, these patents, along with Arcadia’s existing estate, establish a broad and powerful intellectual property portfolio protecting the company’s extended shelf life technology for its GoodWheat lines of products. The fourth patent, U.S. Notice of Allowance 15/577,588, builds upon Arcadia’s intellectual property estate for reduced gluten GoodWheat product lines. 

Arcadia’s GoodWheat portfolio also has a high-fiber variety with up to 10 times the dietary fiber of traditional wheat. The company announced in 2019 the high fiber bread wheat will come to the North American market exclusively through Bay State Milling Company.

The company received two patents for extending

Agrotech, Dairy, E-commerce, Start ups

The start-up provides software named ‘ WeSTOCK’ to reduce the expenses of livestock farmers

Agritech start-up Brainwired, which provides livestock health monitoring and tracking solution has raised undisclosed funding from Mumbai Angels. The start-up provides software to adopt tech to reduce their expenses.

Brainwired is founded by Romeo Jerard and Sreeshankar Nair, who have a background in livestock industry. Brainwired is an Agri-tech startup that is developing a livestock health monitoring and tracking system named WeSTOCK for Indian farmers to help them earn more income by reducing their present expenses.

One of the investors Kritk Abiram said: “Brainwired is a perfect Fitbit for Livestock, also enabling farmers to maximize their profits. Both co-founders have background in the livestock industry and they are very well versed with issues plaguing the sector.”

The start-up provides software named ‘ WeSTOCK’

Agro chems – Fertilizers, E-commerce

Besides this RCF’s Trombay unit has set a new milestone in the energy efficiency of 6.178 MKcal/MT.    

Despite enormous logistic and other challenges posed by COVID-19 lockdown, Rashtriya Chemicals Fertilizers Ltd, (RCF), a PSU under Ministry of Chemicals and Fertilizers, Government of India, in a trail blazing performance registered an increase of 35.47 percent in sale of its NPK fertilizers SUPHALA in the month of April, 2020 as compared to April, 2019, says PIB reports. 

As per reports, Chemicals and Fertilizers Minister DV Sadananda Gowda congratulated the RCF in showing zeal to meet the needs of farming nutrients so that farmers reap the benefits of higher yields. He also expressed satisfaction that different fertiliser PSUs under his Ministry are working hard to assist Indian farmers overcoming difficulties of lockdown announced to curb COVID-19 pandemic. Shri Gowda added that besides his Department of Fertilisers, he himself is in touch with his counterparts in Agriculture Ministries/ other related Departments at Centre and in States/UTs to facilitate production, transit, and distribution of the required fertilisers during the sowing season. 

SC Mudgerikar, CMD, RCF said in a tweet that during this difficult times of COVID-19 pandemic, RCF ensures a continuous supply of fertilizers to the farmers with the help of the agriculture department of Maharastra. For the safety of farmers, fertilizers are being delivered at the farm boundary. Apart from this RCF’s Trombay unit has set a new milestone in the energy efficiency of 6.178 MKcal/MT.    

RCF as part of its strong belief in Corporate Social Responsibility with the objective to benefit the needy and for the general good of the society, has contributed 83.56 lakh to PM Cares Fund and 83.50 lakh to Maharashtra CMRF. Its employees has also come forward and contributed one day’s salary for the cause. This is in addition to Rs 50 lakh already contributed by RCF through CSR.   

 RCF a “Mini Ratna”, is a leading producer of fertilizers and chemicals in the country. It manufactures Urea, Complex Fertilizers, Bio-fertilizers, Micro-nutrients, water soluble fertilizers, soil conditioners and a wide range of Industrial Chemicals.  The company is a household name in rural India with brands “Ujjwala” (Urea) and “Suphala” (Complex Fertilizers) which carry high brand equity. Besides fertilizer products, RCF also produces a large number of industrial chemicals that are important for the manufacture of dyes, solvents, leather, pharmaceuticals and a host of other industrial products.

Besides this RCF’s Trombay unit has set

Acquaculture, Agro Universities

CIFT Kochi prepared advisories in 10 different regional languages, besides English and Hindi. 

 

 

 The Covid-19 pandemic that spread all across the globe leading to lockdown, has significantly affected the fisheries & aquaculture sectors in a multitude of ways in the country. Besides the disruption of fishing activities from open-water, and aquaculture in both freshwater and brackish water systems, several associated activities like seed production, feed plant operation, supply and market chains, etc. have been greatly impacted. As a whole, the fishermen, fish workers, processors and their communities have been facing the threat of the pandemic, which is affecting the entire value chain and the livelihoods depending on it. 

In order to ensure safety of all stakeholders associated in the agricultural sector, the Indian Council of Agricultural Research (ICAR), Department of Agriculture Research and Education (DARE), Ministry of Agriculture & Farmers Welfare, Govt. of India, through its research Institutes have taken several innovative steps to sensitize all concerned in different sub-sectors. 

In fisheries sector, including capture fisheries, aquaculture and other associated activities, ICAR took lead in developing and issuing advisories through the Fishery Institutions, for safety of the workers and preventing the spread of the disease. In this endeavour, ICAR-Central Institute of Fisheries Technology (ICAR-CIFT), Kochi prepared advisories for the benefit of the fishermen, fishing boat owners, fishing harbour, fish market and seafood processing plants in 10 different regional languages, besides English and Hindi. ICAR-Central Inland Fisheries Research Institute (ICAR-CIFRI), Barrackpore prepared advisories for the stakeholders involved in fishing activities in rivers, estuaries, reservoirs and wetlands. These advisories were popularized through print & electronic media, circulated to State Fisheries Departments, developmental agencies, NGOs and SHGs, and also through social media. Such efforts have been received very well by the sector across the country.

 

Recognizing the importance of these timely advisories, the Food and Agricultural Organization (FAO), Rome has recommended these advisories prepared by ICAR-CIFT and ICAR-CIFRI by including them as Voluntary Guidelines for Securing Sustainable Small-Scale Fisheries under the Asia-Regional initiatives for the benefit of fisheries sector across the globe. This is a huge acknowledgement of the efforts by the ICAR and its institutes. The global fishery sector is expected to benefit from these efforts of the Council.

CIFT Kochi prepared advisories in 10 different

Dairy, Live Stock

BI is also providing tele-medicine consultation via video and voice calls to equines owners 

 

 

 Brooke India (BI), an International NGO dedicated to the service of the working equine and the socially backward and marginalised equine owning community immediately responded to the critical situation due to covid19. BI reached out to various Central, State and Local Administrative bodies and offered its services during the lockdown. The communication was sent to the State Animal Husbandry Departments (AHD), National Disaster Management Authority (NDMA), State Disaster Management Authorities (SDMA), District Magistrates, NITI Aayog and the All India Brick and Tile Manufacturing Federation. It conveyed BI’s availability of skilled veterinary staff and its reach in ten states.  

India announced a nationwide lockdown on March 24, 2020 following the increase in COVID 19 cases in the country. Just before announcing it, the central government released an exhaustive list of essential items and services, which included veterinary services. The Ministry of Fisheries, Animal Husbandry and Dairying, Government of India also wrote a letter to State Govt. Chief Secretaries that veterinary hospitals and dispensaries in the states, including private veterinary clinics, veterinary pathologies, animal shelters, etc. should function in the normal course. Elaborating on veterinary services, the letter mentioned – These may include but are not restricted to, emergency services like disease diagnosis and treatment, monitoring of any emergency livestock and poultry diseases, immediate disease reporting, etc. Strict instructions were also issued for veterinary staff to ensure that they adhered to personal safety and hygiene. The Animal Welfare Board of India also issued an advisory to the state governments and law enforcement agencies to ensure that animals and birds do not suffer due to hunger during the lockdown. 

 District Magistrates (DMs)/Sub District Magistrates (SDMs)/ Chief Veterinary Officers (CVOs) were responsible for the issue special passes to the personnel engaged in essential services. BI’s field staff along with our Partner NGOs approached these authorities in their respective operational areas for issuance of COVID19 passes to perform emergency veterinary treatment as per government instructions. BI’s prior networking with the State Animal Husbandry department and its CVOs worked in our favour. The CVOs having seen the work done by BI in their areas of jurisdiction did not hesitate to  issue the required special COVID19 passes, which have permitted BI veterinary staff to join the Government Veterinary Officers (GVOs) and their Para Veterinary staff in providing health care and emergency treatment to equines and other animals. 

The special COVID19 passes were initially obtained by staff of BI’s 10 PEWU units, namely Ghazipur, Lakhimpur, Pilibhit, Kausambhi, Udham Singh Nagar, Vadodara, Bahraich, Pratapgarh, Ballia & Beed. These passes enabled smooth movement of our field staff, as a result, they were able to handle cases of severe colic, abortion, eye injury and other emergency conditions. Similarly, BI trained Animal Health Providers linked with our Community-Based Organisations were also issued special passes in Agra, Saharanpur, Shamli, Muzaffarnagar, & Kausambhi for providing first aid. Till date, BI and Partner PEWUs have treated more than 250 emergency cases. Colic, lameness and wound were found to be the most commonly reported cases.   

BI is now not only treating the emergency cases, its vehicles are being used by GVOs and other Govt. Para Veterinary staff to treat suffering animals, in the absence of other modes of transport available during lockdown conditions. The vehicle passes have proven to be a boon and are serving as a medium of “Distress Call Response” for the poorest of our beneficiaries.  

Colic cases are rising due to change in feed and dehydration. BI, taking note of this situation, started sending SMSs to equine owners and Local Health Providers (LHPs) on requirement of adequate water and feed for their equines to prevent Colic. Each day over 6000 SMSs are sent. BI’s Vet Staff are also providing tele-medicine consultation via video and voice calls to equines owners and assisting them in using First Aid Kits (FAKs) to give immediate relief to ailing equines. The FAKs have proved to be a boon for the equine in these special circumstances, Since BI teams have started visiting the sites and addressing emergency treatments, these visits have given the community a sense of renewed confidence. A number of equine owners have expressed their gratitude towards BI staff for remembering them during these tough times. 

 

BI is also providing tele-medicine consultation via

Agrotech, E-commerce, Seeds

With this acquisition, the company becomes a completely integrated seed company with over 25000 germplasms.

Global Transgenes Limited (GTL) is a company engaged in basic research and application aimed towards development of novel genetic stocks and breeding lines of crop plants, using tools and techniques of modern biology, particularly in molecular biology.

 GTL had developed Fusion Cotton Seeds Portfolio in joint association with Chinese Academy of Agriculture Sciences, Beijing and Bio century Transgenes Corporation (China) Limited through the elaborate regulatory process for widespread trials leading to approvals for commercialization from GEAC. The Technology provides cotton crops with resistance against bollworm complex resulting in reduction of pesticides use and consequent increase in yields. 

GTL’s hybrid cotton seed portfolio encoding fusion BT gene has since been evaluated in Philippines, Sudan, Myanmar and Uzbekistan. Trials have been conducted successfully and regulatory approvals are expected to be received soon. 

The company has ambitious plans for export of value added seeds embedded with Fusion Technology. The company has therefore decided to acquire exclusive rights from GTL for commercialization of Fusion Bt. Cotton seeds to Sudan, Uzbekistan, Myanmar and Philippines. 

The company appointed ZADN & Associates, Mumbai (Chartered Accountant) for the purposes of valuation for acquiring the said portfolio of seeds from GTL. 

In order to determine the value, management has prepared a consolidated business plan for (Sudan, Uzbekistan, Myanmar and Philippines) factoring sales, cost of production, marketing etc. The same has been considered for the purpose of the proposed Transaction. 

Based on the report of ZADN & Associates, the company is pleased to announce acquisition of the said portfolio of Fusion cotton seeds from GTL on exclusive basis for total consideration of Rs. 1194.90 Lacs. There would be NO effective Cash outflow of our company for the acquisition as the same would be adjusted against the existing related party receivables.

 In addition to the rights on products, the acquisition of GTL also includes taking over of its world class laboratory conducting genetic research along with the staff and other paraphernalia. 

This acquisition completes the re-structuring for Nath Bio-Genes (India) Limited where in entire seed business and related activity becomes a part of the operations. With this acquisition, the company becomes a completely integrated seed company with over 25000 germplasms, top agri scientists of the country plus seed development rights across Myanmar, Philippines, Sudan and Uzbekistan.

With this acquisition, the company becomes a

Agro Universities, R&D

The Board will provide financial assistance of ₹5 crore initially for two years for the establishment and running of Centre of Excellence. 

The Coir Board has signed MoU with the Indian Institute of Technology-Madras to establish a Centre of Excellence for the application of coir exclusively or in combination with other natural fibres.

 It was at the instance of Union Minister of MSME Nitin Gadkari, the IIT-Madras had earlier validated the research studies so far were undertaken by the Coir Board and other agencies in India on Coir Geo-Textiles (CGT) and recommended that CGT can be successfully used to prevent soil erosion in slopes/embankments, river embankments, mine slope dumps stabilisation etc. The institute has also recommended the use of CGT in the low volume rural roads as a re-enforcement material. 

The centre aims at furthering the research work in the coir sector with the support of IIT-Madras. It will also support the development of relevant technology and evolve standards for production and processing through specific projects and monitor research projects and mentor of Coir Board’s research institutes/laboratories. 

The Board will provide financial assistance of ₹5 crore initially for two years for the establishment and running of Centre of Excellence.

The Board will provide financial assistance of

Agro chems – Pesticides, E-commerce, Seeds

Seed sales rose 25 per cent on a reported basis and 27 per cent on an organic basis primarily due to increased corn deliveries  

Corteva Agriscience, the leading agricultural chemical and Seed Company has recently reported financial results for the quarter ended March 31, 2020, amid the COVID-19 crisis. Moreover, the major American agriculture company has delivered double-digit sales and earnings compared to the previous year. As per reports, first quarter 2020 reported net sales were $4.0 billion, up 16% versus the year-ago period, with double-digit organic sales1 growth in every region.

 Seed sales rose 25%

Seed sales rose 25 per cent on a reported basis and 27 per cent on an organic  basis primarily due to increased corn deliveries in North America, coupled with strong sunflower and corn sales in Europe, says the official.

 Crop Protection Sales Improved 5%

Crop Protection sales improved 5% on a reported basis and 10% on an organic basis due to increased demand for new products globally, including ArylexTM and EnlistTM herbicides. 

GAAP earnings per share (EPS) from continuing operations were $0.36, up 157% as compared with the same quarter last year. On the other hand, GAAP income from continuing operations after taxes was $281 million, up 151% versus the prior-year period. 

Highlighting the global crisis over COVID-19 pandemic, James C. Collins, Jr., Corteva Chief Executive Officer said, “Driven by our purpose, Corteva has come together with industry, government, and society during this challenging global economic and health crisis to proactively drive solutions and to serve farmers and communities when they need us most. We quickly mobilized to ensure the safety of our employees and continued support for our customers – and worked collaboratively across industry and government lines to shape effective policies to avoid disruptions in our supply chain, helping to mitigate impacts to food security more broadly.”

 

“This level of collaborative coordination is essential as Corteva is a global citizen with an operational footprint that spans over 140 countries and includes a global workforce that serves over 10 million customers each year. Our global diversity, collaborative approach, and the dedicated team produced solid financial and operating results in the quarter, despite a difficult environment – and while more uncertainty lies ahead, we are committed to working transparently with our stakeholders as we navigate this historic time for our industry and our world”, he added.

 

As per reports, operating EPS was $0.59, up 79% and operating EBITDA was $794 million, up 53% versus the same quarter last year, as volume and price gains and ongoing cost-improvement actions more than offset exchange losses and currency headwinds.

 

Merger cost synergies for the three months ended March 31, 2020 totalled approximately $70 million, reflecting continued progress on productivity initiatives.

 

The Company continues to monitor near-term operating conditions with a focus on business continuity – and maintains strong liquidity via commercial paper markets and $8 billion in credit facilities, cash and cash equivalents.

 

Management suspends full-year 2020 guidance in light of the COVID-19 crisis and the uncertainty it is creating across global markets, including currency and commodity markets.

Seed sales rose 25 per cent on

Foodgrains

Wheat production during the current rabi season could be a record 113.66 million tonnes, nearly 10 per cent more than the 103.6 mt output in the previous year 

According to the crop estimate report  recently released by private weather forecasting firm Skymet ,wheat production during the current rabi season could be a record 113.66 million tonnes, nearly 10 per cent more than the 103.6 mt output in the previous year, while gram output could be 8 per cent higher at 10.74 mt.

Wheat production estimates of Skymet are much higher than the 106 mt projected by the second advance estimates of the Agriculture Ministry. Production of mustard and rapeseed, on other hand, would see only a marginal increase of 2.7 per cent at 9.5 mt as against 9.25 mt in the previous rabi season. 

Impact of lockdown

However, the Skymet report said that because of the nationwide lockdown, agricultural activities and supply chain were disrupted. Initially, the non-availability of migrant labour interrupted some harvesting activities. 

“Though the government is trying to normalise the situation, even till date the situation is dismal as farmers and their produce are unable to reach the market due to the lockdown,” the report said. As a result, producer is battling to sell the produce at appropriate prices, it added. 

Horticulture supply chain disruption

The worst-hit, according to Skymet, are horticulture farmers. It said there have been disruptions in supply chains because of transportation problems and other issues. Farmers are unable to bring the produce to mandis. Those who have storage facilities have stored the produce while the rest have sold it at whatever prices they could get.

Even though prices declined for vegetables and other crops, consumers ended up paying more. The temporary closing down of restaurants and eateries also affected farmers badly. 

 “The future also looks bleak as the supply of agri-inputs for the upcoming kharif season – especially seeds may get affected by this lockdown. Unavailability of seeds and other agricultural input may lead to the delayed sowing or no sowing at all,” the report said. 

Quoting the Ministry of Agriculture data, the report said wheat sowing was up by 12.3 per cent this year over last year, with most of increase in acreage coming from Maharashtra (89 per cent more), Gujarat (73 per cent), Madhya Pradesh (nearly 33 per cent) and Rajasthan (17 per cent). Skymet said it expected the national average yield to be 3.38 tonnes per hectare.

 Gram estimates

Similarly, there is 11.5 per cent increase in the area of gram cultivation which is on account higher acreages reported from Maharashtra (58 per cent more) and Rajasthan (42 per cent), which adequately compensated for the 20 per cent drop in gram area in Madhya Pradesh. 

The area under mustard and rapeseed was more or less the same this year, even though Rajasthan and Haryana planted marginal more than last year, but there was a nearly 10 per cent drop in mustard cultivation in Madhya Pradesh, said the Skymet report.

Wheat production during the current rabi season

Agro chems – Chemicals, E-commerce

The new plant is now the world’s most energy efficient plant per tonne of ammonia produced. 

 

 

 KBR has announced that Chambal Fertilizers and Chemicals (CFCL), Gadepan, India, has successfully commissioned a new plant using KBR’s PurifierTM ammonia technology, which is now the world’s most energy efficient plant per tonne of ammonia produced. 

CFCL has two existing ammonia plants that were revamped by KBR in 2009 to increase production and lower energy consumption. CFCL constructed and commissioned its third ammonia plant with a production capacity of 2200 tpd, which has achieved an energy consumption even lower than the guaranteed value of 6.417 Gcal/t during its test run period, making it the world’s most efficient ammonia plant. 

“This is another proud milestone for KBR’s ammonia technology,” said Doug Kelly, KBR President, Technology Solutions. “We are committed to offering our partners energy-efficient and flexible solutions while always striving to improve upon industry benchmarks with many of them previously set by ourselves.”

The new plant is now the world’s

E-commerce, Machinery – Post-harvesting, North America

Sales of agricultural equipment declined 9.9%, from $2.49 billion during the first period of 2019 to $2.24 billion during the first 3 months of 2020. 

CNH Industrial reported on May 6 that its consolidated revenues for the first quarter 2020 ended March 31 were $5.5 billion, down 15% vs. the first quarter 2019. The company reported a net loss of $54 million compared to net income of $264 million for the same period last year.

 Net sales of $5 billion in the first quarter of 2020 were down 17% compared to the first quarter of 2019 (down 14% on a constant currency basis), due to adverse COVID-19 impact on market conditions across all regions, coupled with previously announced actions to reduce dealer inventory levels. 

Agricultural Equipment Segment

Sales of agricultural equipment declined 9.9%, from $2.49 billion during the first period of 2019 to $2.24 billion during the first 3 months of 2020. According to the company, the decrease was driven by lower industry volumes across all geographies and further deterioration linked to the COVID-19 outbreak. These factors were coupled with actions to reduce dealer inventories in North America and were partially offset by positive price realization across all regions. 

Adjusted EBIT was $24 million, a $144 million decrease compared to the first quarter of 2019. Positive price realization, disciplined cost management and favourable purchasing performance were more than offset by lower wholesale volume and market and product mix, negative fixed cost absorption (primarily in Europe) due to plant shutdowns, higher product costs, and costs associated with product quality actions. Foreign exchange impact was negative, primarily from South America. Adjusted EBIT margin was 1.1% (6.7% in the first quarter of 2019).

Sales of agricultural equipment declined 9.9%, from