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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

Agro chems – Pesticides, E-commerce, R&D

 It is a novel nematicide and fungicide technology under development for both seed- and soil-applied uses.  

 

Syngenta has recently  unveiled  the TYMIRIUM™ technology platform brand. It is a novel nematicide and fungicide technology under development for both seed- and soil-applied uses. 

TYMIRIUM™ technology is a great example of Syngenta investing in innovation to provide farmers with tools that help them maximize their yield in a sustainable way. 

Based on the active ingredient cyclobutrifluram, TYMIRIUM™ technology provides long-lasting protection against a broad spectrum of nematode pests and diseases across all major crops and geographies. Nematodes not only attack crops but also open a path to further fungal infection. TYMIRIUM™ technology offers excellent control of both nematodes and soil-borne diseases, especially Fusarium species. By protecting the root mass, TYMIRIUM™ technology plays a critical part in enabling no-tillage and conservation-tillage practices.

 Jon Parr, President Global Crop Protection, said: “We are investing significantly in soil health at Syngenta, and the development of the TYMIRIUM™ technology is a major step forward in this space. It will give farmers the freedom to maximize their yields without having to compromise on sustainability.”

The first launches of TYMIRIUM™ technology-based products are planned for Latin America in 2021 / 2022. Further registrations across a broad range of crops world-wide are expected over the next five years.

 

 

 

 

 It is a novel nematicide and fungicide

E-commerce, Machinery - Pre-harvesting, Machinery – Post-harvesting

The company sold 4716 tractors in the month against the 27,495 tractors sold in the same month in 2019. 

 

 

The Covid-19 lockdown has made adverse impact on the sales of farm inputs required for the upcoming Kharif season. It seems evident in the sales of tractors of India’s largest tractor manufacturing company, Mahindra & Mahindra. The domestic sales of the company has declined 83 percent in April 2020. The company sold 4716 tractors in the month against the 27,495 tractors sold in the same month in 2019. 

The exports witnessed the similar trends, the company sold 56 tractors in the month against 1057 tractors sold in the same month in 2019. It is a decline of 95 percent. 

Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), recently, announced its tractor sales numbers for April 2020.

 Highlighting the sales, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 4,716 tractors in the domestic market during April 2020. The extension of the national lockdown impacted the business, with dealers partially open for just a few days. Going forward, several positive factors including a good Rabi output, opening of procurement centres by the government, indication of good crop prices, reservoir levels etc., augur well for tractor demand.”

 “However, the rate of improvement will depend on how quickly the on-ground sales operations, including the start of NBFCs are normalised, following the relaxation of the lockdown. In the exports market we have sold 56 tractors,” Sikka added.

 

The company sold 4716 tractors in the

Acts & Schemes – Centre, Cold Storage

The promoters of 38 cold chain projects participated in the Video Conference 

 

 

Union Minister of Food Processing Industries Harsimrat Kaur Badal, held video conference with the promoters of the completed Integrated Cold Chain Projects supported by the Ministry of Food Processing Industries in the State of Maharashtra. 

Minister of State for FPI, Rameshwar Teli was also present in the meeting.The promoters of 38 cold chain projects participated in the Video Conference. The promoters interacted with the Union Minister of Food Processing Industries and shared their experience gained/ problems faced in completing the projects. Further, the promoters shared the challenges faced in running the cold chain projects during the lockdown period.

 Harsimrat Kaur Badal emphasized on the need to leverage the collective strength of the Integrated Cold Chain network to cope up with the COVID-19 crisis that has posed a serious challenge to the existing supply chain of food products.

 They discussed issues such as piling stocks of frozen vegetables and processed dairy products not finding their traditional markets like restaurants, banquets, hotels etc. amidst the lockdown and further, the difficulty in exporting these products. 

The promoters shared that higher number of working hours are required as businesses are operating with 1/3rd or half of labour Force. This has increased the cost of production rendering product as less competitive. 

Union FPI Minister discussed following major issues in the Video Conference: 

  • Raw material availability and its high cost
  • Impact of Lockdown on operations
  • Labour and Logistics issues
  • High inventory costs
  • Liquidity crisis as payments have to be made to farmers 

The promoters of 38 cold chain projects

Agro chems – Pesticides

CCFI has also raised serious concerns with the new Pesticide Management Bill 

Crop Care Federation of India (CCFI), an industry body of pesticide manufacturers and formulators, claims that indigenous pesticides meet global standards and help farmers reduce 30% of annual crop losses in commercial and horticultural crops. 

“There has been false propaganda that 40- 50% of pesticides are “spurious or substandard” in the market in not only false but tarnishes the image of genuine manufacturers. This is baseless,” said Harsh Mehta, senior advisor to CCFI.

Right to Information applications filed with various state governments by CCFI have also revealed that 97.2% of pesticide samples were quality products meeting international standards. 

“Out of 54932 samples collected from agriculture department of various states during fiscal 2017-18 and 2018-19, only 1527 samples were found to be below standard or “not meeting specification”. When the ’failed’ 2.78% samples were sent for reanalysis, this failing percentage reduced further, giving credence to the fact that Indian agrochemicals are superior and accepted all across by the farming community,” Mehta claimed.

 Indian agrochemical industry, a major component of Agri inputs, has grown exponentially over the years both in domestic consumption and exports. This has only been possible on account of quality manufacturing by indigenous producers meeting global standards. 

“We have the potential to increase exports from existing $3bn to $8bn under favourable policies of government,” Mehta said. 

A leading global firm McKinsey & Company, in its recent report on Indian Chemical Industry, estimated India can aim for deeper market penetration into global markets in agrochemical exports. 

The body has also raised serious concerns with the new Pesticide Management Bill, which heightens the criminalisation of business operations, as there are penalties of up to Rs 50 lakh with an imprisonment up to 5 years or both, without differentiating between minor or major offences.

 “There is no safeguard provision for the genuine manufacturer, who applies the product manufactured as per the regulatory framework formulated by a competent body like the Registration Committee. No one would take the risk of imprisonment for minor offences,” Mehta said.

 

CCFI has also raised serious concerns with

Agrotech

Prior to the appointment as Director (Operations), he was serving as an Executive Director to the CMD

 

Ramesh Babu V has taken over the role of Director (Operations) at NTPC Ltd. He has been dedicated to NTPC since the year 1987. Started over his journey as an Executive Trainee, he has experience of managing large power stations in the areas of operations and maintenance. He also has a keen eye towards the renovation and modernization of old units and domains of efficiency & systems improvement of thermal plants. 

As a Professional Manager and Strategic Planner, Ramesh Babu has been leading several initiatives in order to improve the reliability and efficiency of Power Stations. He has hands-on knowledge in the power sector including Senior Management level exposure as a “Business Unit Head” of NTPC Talcher Kaniha & NSPCL Durgapur. 

As per NTPC, his primary responsibility as Director (Operations) will be the overall planning of safe, reliable and efficient operations of all power generating stations of the NTPC Group, at the same time, ensuring fuel security and environmental compliance of these power stations. Prior to his appointment as Director (Operations), he was serving as an Executive Director to the CMD. He was also in charge of system improvement activities and forming strategies related to the operational excellence of NTPC power plants.

 

 

 

 

Prior to the appointment as Director (Operations),

E-commerce

 The Tata group firm had posted a net profit of Rs 1.35 crore in the same period a year ago, the company said. 

Agriculture solutions firm Rallis India recently  reported a decline of 49.62 per cent in its consolidated net profit at Rs 0.68 crore for the quarter ended March of 2019-20.The Tata group firm had posted a net profit of Rs 1.35 crore in the same period a year ago, the company said in a BSE filing.

 The total income marginally increased to Rs 346.29 crore during the period as against Rs 339.69 crore during the quarter ended March 31, 2019. Expenses rose to Rs 369.87 crore from Rs 345.05 crore earlier. 

However, for the year ended March 31, 2020, the company reported a rise in its consolidated net profit at 183.69 crore from Rs 154.78 crore at the end of 2018-19.

The company’s total income rose to Rs 2,286.15 crore during the period as against Rs 2,014.61 crore at the end of 2018-19 fiscal. 

Due to the nationwide COVID-19 lockdown, Rallis India said its operations were disrupted at certain manufacturing facilities and depots of the company, as a result of which goods worth Rs.16.04 crore could not be dispatched to the domestic market.

Further, international shipments were also disrupted due to absence of transportation facilities in the last week of March 2020 resulting in lower shipment of Rs.53.18 crore, it said in the filing.

Sanjiv Lal, Managing Director and CEO of Rallis India said, “Under the current COVID 19 situation, we are focusing on the safety of our employees and operations. Taking view of the situation, we coincided our maintenance related shutdown with the lockdown period.” 

After completing critical maintenance jobs, the company has resumed operations since April 27 and expect to ramp up production levels gradually with the adoption of safe practices, he said.

“We are thankful to the government in supporting the agri input industry which is declared as an essential industry. As we move forward, we are adapting to the new normal with a consistent focus on product supply, cash position, optimal capex and calibrated fixed cost,” he added.

 The Tata group firm had posted a

E-commerce, R&D

It aims at Australia’s sorghum and sunflower germplasm portfolio and carry out R&D, plant breeding, and commercialization services. 

 Nuseed Pty Ltd (“Nuseed Australia”) and Barenbrug Australia Pty Ltd announced they have entered into a formal agreement for Barenbrug Australia to license Nuseed Australia’s sorghum and sunflower germplasm portfolio and carry out R&D, plant breeding, and commercialisation services. 

This announcement demonstrates Nuseed Australia’s prioritization and focus on its market-leading position in the Australian canola and Monola markets and its ongoing Australian research and development commitments as the global commercialization partner for CSIRO and GRDC for Nuseed Omega-3 canola. The collaboration aligns strongly with Barenbrug’s strategic objective of being a key player in summer crop in Australia, which includes a long-term focus and continued R&D investment.

Starting July 1st, 2020, all Australian-based Nuseed grain sorghum, forage sorghum and sunflower plant breeding, R&D, sales and distribution will be licensed to Barenbrug. Australian growers will have access to the same Nuseed products, sold under the Barenbrug brand. 

Travis Rankin, Nuseed Australia’s General Manager says, “Barenbrug is in a strong position to bring Australian farmers an exciting suite of next-generation hybrids from the genetics currently in the Nuseed pipeline.”

 “This agreement reinforces Barenbrug’s commitment to investing in R&D in Australian agriculture,” says Barenbrug’s Australian Managing Director Toby Brown. “We have an extensive program focused on innovation in Australia, and we look forward to developing new products and tools for sorghum and sunflower growers. It represents an exciting next step following the recent opening of our new, state-of-the-art warehouse and seed-coating facility in Toowoomba as part of our ongoing investment in Northern Australia. Barenbrug looks forward to working with Nuseed to continue driving the breeding program forward, with the objective of providing new and existing hybrids to sorghum and sunflower growers.”

 Globally Nuseed will continue to provide industry-leading sorghum and sunflower hybrids to other regions through global germplasm, R&D programs, sales and service in North America, South America, and Europe. Similarly, Barenbrug will continue to remain focused on being a global market leader in research and development, marketing, extension and distribution of proprietary pasture and forage seeds, cropping, turf and seed enhancement technology.

It aims at Australia’s sorghum and sunflower

Agro Universities

Around 100 participants involved in pearl millet R&D participated in the virtual meeting

The ICAR-All India Coordinated Research Project on Pearl Millet, Jodhpur, Rajasthan organized its 55th Annual Group Meeting through Video Conferencing.

The Chief Guest of Plenary Session, Dr Trilochan Mohapatra, Secretary (DARE) & DG (ICAR) applauded the participants for successfully coordinating the various activities of ICAR-AICRP on Pearl Millet. He also appreciated the Members for successfully conducting the Online 55th AGM of Pearl Millet despite the lockdown. 

Earlier, in his inaugural address through video conferencing, Dr Tilak Raj Sharma, Deputy Director General (Crop Sciences), ICAR emphasized on carrying out the basic and strategic research for enhancing the crops’ production, productivity and its sustainability. Dr Sharma stressed on pre-breeding by using the diverse gene pools for developing parental lines with resistance to major Pearl Millet diseases like blast, downy mildew and rust. He also suggested for exploring the possibility of fixation of heterosis using apomixis in pearl millet.

 Dr C Tara Satyavathi, Project Coordinator, ICAR-AICRP on Pearl Millet briefed about the various activities taken up and research conducted during 2019-20.

The Publications on Pearl Millet were also released during the plenary session. The ICAR-AICRP on Pearl Millet presented various awards to the Best Performing Centres & Scientists in different categories.

The senior officials of ICAR Institutes also attended the Online Meeting. Around 100 participants from various parts of the country representing public and private sectors involved in Pearl Millet R&D participated in various sessions of the 55th Annual Group Meeting on Pearl Millet through Video Conferencing.

Around 100 participants involved in pearl millet

E-commerce, Supply Chain

KRBL aims to provide all top selling packs to consumers without having them to step out of their home 

KRBL Limited, India’s largest branded rice company has announced their association with Zomato and Swiggy to introduce INDIA GATE BASMATI RICE on the country’s leading food delivery platforms. This service will be available on Zomato in 34 cities across 11 states-West Bengal (Kolkata, Durgapur, Siliguri), Orissa (Bhubaneshwar, Cuttack, Rourkela, Sambhalpur), Tripura (Agartala), Andhra Pradesh (Vijayawada, Nellore, Nizamabad), Jharkhand (Ranchi, Jamshedpur, Dhanbad), Bihar (Bhagalpur, Gaya), Chattisgarh (Raipur), Karnataka (Bangalore, Bellary, Mysore, Hubli, Bijapur, Bidar, Davanagere), Madhya Pradesh (Gwalior, Mandsaur,Neemuch, Indore), Gujarat (Surat), Maharashtra (Kolhapur, Pune, Nashik, Latur, Ichalkaranji). 

On Swiggy, this service will be available in Bangalore, Mumbai, Delhi & Gurgaon and will be extending to more cities as well.

Through this collaboration, India Gate Basmati Rice aims to provide all top selling packs to consumers without having them to step out of their home. The customers can choose any of the packs visible in the app as per availability. 

Commenting on the association, Ayush Gupta, heading the domestic marketing of KRBL Limited, elaborated, “During this pandemic situation which has taken most of the countries across the world Off-guard, we are making sure to be available as an essential grain to tens of thousands of our customers across the nation through all channels possible. It is our duty to provide best quality and hygienic products in controlled environment to each and every person while respecting their need for safety in a lockdown state. Our association with Swiggy and Zomato is further going to strengthen this promise and give assurance and ease to everyone who wants their product to be delivered safely at their doorstep.” 

Mohit Sardana, COO-Food Delivery, Zomato said, “We are focused on making sure everyone has access to essential products from the comfort of their homes. We are glad to partner with KRBL and make India Gate Basmati Rice available online on Zomato Market across 34 cities in India. Rice is one of the key staples in India and our wide delivery network will ensure our users don’t have to wait more than 60 mins for it.” 

Speaking on the collaboration, Paul Varghese, VP, Supply-Swiggy, said, “Swiggy is committed to accelerate its existing services to serve the citizens of our country in every way possible. Rice is the most basic grain in every household in India and is constantly in demand. We are happy to partner with KRBL to make this essential grain easily accessible to our customers. While KRBL team is persistently working to maintain the supply of essentials for its customers, Swiggy will maximise on its efforts to aid the last mile deliveries to ensure the product reaches the consumers quickly and in a safe manner.”

 

 

KRBL aims to provide all top selling

AgroPolicy

Govt will supply free power for nine hours of the feeders of the farm sector 

Andhra Pradesh government will supply free power for nine hours to 81 per cent of feeders of the farm sector during the Kharif season and will increase it to 100 per cent for the next Rabi season.

This was revealed in a review meeting, chaired by State Chief Minister YS Jagan Mohan Reddy. Due to issues relating to Covid-19 pandemic and its impact on the State power sector, the issue of supply of free electricity to farmers for nine hours has been restricted to 81 per cent. 

In the previous Kharif season, power was supplied to only 58 per cent of the feeders during the day time. Now, the state is ready to provide the power for 9 hours to 81 per cent of the feeders, State Power Secretary N Srikanth, informed.

The Chief Minister was however keen that there should be 100 per cent supply. He ordered the officials to supply free power to 100 per cent feeders from the next Rabi season.

The Chief Minister sought details on the progress of the proposed 10,000 MW capacity solar power plant. Officials stated that the works would start by month-end.

Govt will supply free power for nine