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E-commerce, Finance

Funds will be used to extend the network to 2,000 rural retail centres

DeHaat, an agri-tech platform that helps farmers access agri inputs and financial services, and sell their produce, has raised $12Mn in a Series A round funding led by Sequoia India and FMO, the Dutch entrepreneurial development bank. Existing investors Omnivore and AgFunder also participated in the latest round of funding.

 

Shashank Kumar, co-founder and CEO of DeHaat, said the company plans to use the funds to strengthen its presence in States such as Bihar, Uttar Pradesh, Jharkhand, Odisha and West Bengal, where it currently operates, and also to expand to newer regions, mainly in North India.

“The platform helps farmers secure thousands of agri-input products, including seeds and fertilizers, and receive tailored advisory on the crop they should sow in a season. We have built a comprehensive database of crop tests to offer advice to farmers,” he added. 

DeHaat, which employs 242 people, also helps them connect with 200 institutional partners to provide farmers with working capital, and when the season is over, helps them sell their yields to bulk buyers such as Reliance Fresh, food delivery start up Zomato i and business-to-business e-commerce giant Udaan.

DeHaat does not charge any fee for its advisory, but takes a cut whenever farmers use its platform to buy agri-inputs or sell their crop yields. The start-up will use the fresh capital to extend its network to 2,000 rural retail centres, on-board more micro-entrepreneurs for last-mile delivery and reach 1 million farmers by June of next year. DeHaat is also working on automating its supply chain and developing more sophisticated data analytics, Kumar said. 

At stake is India’s agriculture market that is worth $350 billion and serves nearly 100 million small and independent farmers, said Abhishek Mohan, VP at Sequoia Capital India, i the VC fund that writes more checks than anyone else in the country. 

This industry is on the brink of a massive transformation thanks to ease of regulation, farmers getting organized and increasing penetration of smartphones. DeHaat is leveraging these trends to build the next-gen product in agricultural supply chain,” said Mohan in a statement. 

“The tipping point that led to Sequoia India’s decision to partner with them was the field visit, where the farmers expressed how proud they were to be associated with a platform they felt truly worked in their favour. This impact and deep brand loyalty stems from the leadership team’s razor-sharp focus, deep empathy and fine execution,” he added.

Funds will be used to extend the

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

Sovinol P850 aimed at providing viable solutions for reducing the impact on the global environment of chemicals in the agricultural sector

Minagro, a developer of higher quality green and safe products and solutions for the crop care industry, announces the unveiling of Sovinol® P850, an in-can preservative that safely counters microbial contamination in agrochemical formulations. This preservative pack can be used to protect in-can spoilage of liquid biostimulants and fertilisers, aqueous pesticide formulations that use thickening gums, as well as raw materials and formulants for agrochemical applications. 

 

Minagro developed Sovinol P850 as a safer alternative to isothiazolinone based preservatives.

Isothiazolinone based preservatives are used to prevent microbial development in aqueous agrochemical formulations. While these products are compatible with most common formulants and present efficient anti-microbial protection, the toxicological profile of these molecules is currently a concern for regulators; in Europe, steps have been initiated to restrict the use of some of these compounds in consumer products. Benzisothiazolinone (BIT) – a widely used biocide, Methylisothiazolinone (MIT) – a preservative with antibacterial and antifungal effects and Chloromethylisothiazolinone (CMIT) – a microbicide, fall within the group of isothiazolinones. 

Unlike isothiazolinone, Sovinol P850 has shown a favorable tox-ecotox profile, allowing for higher doses in more sensitive formulations, such as biostimulants rich in amino acids. Sovinol P850 is a liquid product making it is easy to handle. It is compatible with the most common formulants and is stable within a broad pH range (3 to 10). This in-can preservative is readily biodegradable and will not modify the final product classification at the recommended use rate. 

“Minagro’s Sovinol P850 is the first in a series of protection packs aimed at providing truly viable solutions for reducing the impact on the global environment of chemicals in the agricultural sector,” said Arnold de Maere, sales and marketing manager at Minagro. “The launch of this product offers customers a safer co-formulant for their mixtures. We anticipate strong interest from global customers as demand grows for greener and more sustainable products.”   

The crop protection market is forecast to grow at a CAGR of 5.15% to reach $70.57bn (€63.03bn) in 2021. Biopesticides is expected to grow at a CAGR of 15.99% to reach $6.4bn (€5.63bn) in 2022, with projections that biostimulants will grow at a CAGR of 11.24% to reach $4.9bn (€4.3bn) in 2025.

 

 

Sovinol P850 aimed at providing viable solutions

Agro chems – Fertilizers, E-commerce, Trade

The Company announces profit crossing Rs 1000 crore and achieved the highest ever production of 91.42 Lakh Metric in 2019-20

Amid the spectre of Corona Virus looming large, there is good news coming from the largest fertilizer cooperative IFFCO. The co-op titan has produced and sold the highest amount of fertilizer ever in the country, beating its own previous records. 

 

“In the Financial Year 2019-20 we were able to register a profit of more than 1000 Crore (PBT). We managed to achieve the highest ever production of 91.42 Lakh Metric”, announced a jubilant MD Dr U S Awasthi.

Listing the new initiatives like Nano fertilizer, Sikkim IFFCO Organics and IFFCO Bazar, the MD goes on cheering his team while thanking his Board of Directors including Chairman B S Nakai and Vice-Chairman Dileep Sanghani for their continual support and guidance.

Starting the new financial year, the MD pens this letter listing IFFCO’s achievements, challenges and what the future has in store for the co-op behemoth.

Excerpts:

In the Financial Year 2019 – 20 we were able to register profit of more than 1000 Crore (PBT). We managed to achieve the highest ever production of 91.42 Lakh Metric.

Tonnes of fertilisers which includes highest ever production of Urea at 48.75 Lakh Metric Tonnes, highest ever production of DAP at 20.93 Lakh Metric Tonnes and also the highest ever production of NP/NPK/DAP/WSFS at 42.67 Lakh Metric Tonnes. Paradeep unit achieved its highest ever production of NP/DAP. Our three Urea plants Kalol, Phulpur & Aonla achieved the lowest composite energy consumption of 5.285 GCal/MT of Urea. Kalol, Phulpur, and Aonla units also achieved the highest ever production of Urea.

IFFCO has achieved highest ever yearly record despatch of 133.24 lakh MT of Urea/NP/NPK/DAP/WSF and other Speciality fertilizers, in the year 2019-20 from IFFCO’s Plants at Kalol, Phulpur, Aonla, Kandla, Paradeep and Ports.

Correspondingly, we were able to sell 133.30 Lakh Metric Tonnes of fertilisers, the highest sales figures in history of IFFCO. I congratulate both the production and marketing teams for their stellar performance and encourage them to keep up the good work. 

Apart from this, our novel project of nanotechnology based products is on the right track. The marketing, R&D and the IT teams are working with excellent synergy on this project. We have commenced over 11,000 trials of these fertilisers across India. The results of these trails are promising and motivating. Farmers are able to see a visible change in the quality and quantity of their output. This will be a game changer in the field of nutrient application. 

In FY 2019-20 we also launched two exciting initiatives.One being, Sikkim IFFCO Organics Pvt. Ltd., to promote and market the organic produce from the State of Sikkim and other North-Eastern states of India. The other one being www.iffcobazar.in, our unique e-commerce portal to sell non subsidized IFFCO’s agri related inputs online.

 

 

 

 

 

 

The Company announces profit crossing Rs 1000

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

Exports in the same period has registered a decline of 84 percent.

Amid COVID-19 pandemic, India’s largest tractor manufacturer, Mahindra & Mahindra has registered a 27 percent dip in its tractor sales in March 2020 as against the same month sales of 2019. Exports in the same period has registered a decline of 84 percent. 

 

Mahindra & Mahindra’s Farm Equipment Sector (FES), has sold 13,418 tractors in March 2020 in domestic markets, as against 18,446 units during March 2019. Mahindra’s total tractor sales — domestic as well as exports — during March 2020 were at 13,613 units, as against 19,688 units for the same month last year. Exports for the month was 195 tractors as compared to 1242 tractors in the corresponding month last year. 

Highlighting the performance, Rajesh Jejurikar, Executive Director, Auto & Farm Equipment Sectors, Mahindra & Mahindra said, “We have sold 13,418 tractors in the domestic market during March 2020.The month was disrupted as business was hugely impacted by the lockdown just before the start of festive days in large parts of the country. In compliance with the regulations, the anticipated retail surge and billing totally stopped in all states.” 

“The Central government has taken timely initiatives for the farming community in the form of specific relief packages. We hope this will help bring in momentum for tractor sales, after the lockdown ends. In the exports market, we have sold 195 tractors,” Jejurikar added.

Exports in the same period has registered

E-commerce

UPL team is assisting local administrations by providing services of disinfectant spraying at various public and private spaces

UPL, India’s largest crop protection products manufacturer, has pledged Rs 75 crore to PM-Cares Fund in assisting the government to fight against Covid-19.

 

It is also continuously providing large number of Personal Protective Equipment (PPE) units to help with the safety of India’s frontline heroes in healthcare and sanitisation who are relentlessly fighting the battle against the Corona virus pandemic.

The company has also kept on standby, the premises of its educational institutions such as Gyan Dham School and Sandra Shroff Rofel College of Nursing, both at Vapi in Gujarat, with necessary arrangements to operate as quarantine centres as and when required.

“These are very challenging times for the entire mankind, and we find ourselves duty-bound to serve the nation and assist with our resources and expertise in this critical fight. As a responsible corporate, we remain committed to support the Government of India and various state governments in every possible manner,” said Jai Shroff, CEO, UPL.

UPL is additionally supplementing the Central and state government’s efforts by engaging 200 modern mechanical spraying machines (falcons) and 225 staff members to contain the spread of Corona virus. The company teams are assisting local administrations by providing services of disinfectant spraying at various public and private spaces such as hospitals, streets, police stations, railway stations and municipal corporations.

Tushar Trivedi, head, AFS, UPL, said, “We recognise that keeping public spaces disinfected is one of the most important aspect in checking the spread of Corona virus. Upon call from the authorities, we quickly aligned our resources and deputed our mechanised spraying vehicles to disinfect public spaces with sodium hypochloride provided by the government.

The company has till date sprayed 11.5 lakh litre of disinfectant solution in Gujarat, Maharashtra, Telangana, Punjab, Haryana, Rajasthan, Madhya Pradesh and Andhra Pradesh. It is working to extend the exercise to other states as identified by the government.

The company also quickly mobilised to manufacture hand sanitisers as per WHO guidelines for distribution to police and municipal corporations. These hand sanitisers are being given to the front level personnel working to control the spread of Covid-19.

 

 

 

UPL team is assisting local administrations by

E-commerce, Oilseeds, Trade

The imports of RBD Palmolein fell 90% in March 2020 to 30,850 tonnes, from the previous-year period’s 3,12,673 tonnes. 

 

 

Refined palmolein imports have plunged drastically following the government putting RBD Palmolein under the restricted list, according to trade body Solvent Extractors’ Association of India (SEA). The Centre had put RBD Palmolein under the restricted list with effect from January 8, 2020.

SEA’s provisional data reveal 32% fall in overall imports of edible oils. The imports of RBD Palmolein fell 90% in March 2020 to 30,850 tonnes, from the previous-year period’s 3,12,673 tonnes. For the period November 2019 to March 2020, the imports were 66 per cent less YoY, SEA said. 

In a report compiled and released by it based on the interim provisional data on edible oil imports in March, SEA noted that the nationwide lockdown made it unable to collate data from all sources.

“The imports of CPO and CPKO also registered a 12 per cent dip during the November 2019 to March 2020 period. This decline in the imports of palm products has directly benefited the imports of soft oils such as soyabean and sunflower, which is evident by their increase in imports by 22 per cent and 17 per cent, respectively,” the SEA noted.

 Soyabean imports in March 2020 were at 2,92,410 tonnes, almost like March 2019. Sunflower oil imports also remained stable at 2,96,501 tonnes.

 Based on the available data, SEA said there was a 32 per cent dip in overall imports of edible oils at 9,41,219 tonnes, compared to 13,91,255 tonnes in March 2019.

 

“The overall import of edible oils during November 2019 to March 2020 is reported at 5,391,807 tonnes, as compared to 6,005,067 tonnes during the same period in the previous year, i.e. down by 10 per cent,” it added.

The imports of RBD Palmolein fell 90%

Agro chems – Fertilizers, E-commerce, Organic, R&D

The Gronamic fertilizers utilise organic and mineral nutrient sources

Israel Chemicals Ltd has recently announced the launch of Gronamic – a new range of organo-mineral fertilizers. The Gronamic range comprises various analyses and particle sizes and is designed for all types of fine and coarse turf.

UK sales and development manager Ed Carter said: “The introduction of the Gronamic range is a really positive step for ICL. We are world leaders in the production of mineral and controlled release fertilizers and adding organic technologies into our portfolio really broadens our reach. 

“We know that our customers utilise organic nutrient sources within their management programmes and the Gronamic range now allows them to do this with ICL branded material.” 

The Gronamic fertilizers utilise organic and mineral nutrient sources to provide a phased consistent release that creates consistent growth responses. The consistent granulation facilitates even spreading and ensures reliable performance.

The Gronamic fertilizers utilise organic and mineral

Agro chems – Chemicals, E-commerce

The uncertain situation makes it difficult to ascertain the exact financial impact on the business at this stage

Chemical maker BASF India recently said it has suspended manufacturing operations across the country except certain essential services.

 

In a regulatory filing, the company informed that “due to the global outbreak of coronavirus (COVID-19) and in compliance with the directives of the government of India/state governments, the company has, over the last few days, suspended its manufacturing operations across India (except for certain essential services). 

The uncertainty around the situation makes it difficult to ascertain the exact financial impact on the business at this stage, it added. “The duration of this shutdown will depend upon the directives issued by the respective government authorities in this regard,” the filing said. 

The company is closely monitoring the situation and will adhere to the government directives and support the fight against the COVID-19.

The uncertain situation makes it difficult to

Agro Universities, R&D

ICAR is documenting on impact on agriculture and allied sectors and measures to minimise the negatives

Government agri-research body ICAR is assessing the impact of Covid-19 lockdown on agriculture and allied sectors and taking measures to minimise its effect on the country’s food security, a senior ICAR official said.

 

 

The Indian Council of Agricultural Research (ICAR) is the apex body for coordinating, guiding, and managing research and education in agriculture in the entire country under the aegis of Ministry of Agriculture and Farmers Welfare.

 

“ICAR is preparing documents on the possible impact on agriculture and allied sectors and measures to minimise the negatives so that the food system remains unaffected,” the official said.

While the government has exempted many agricultural operations from harvesting to movement of produce to mandis from lockdown rules, the ICAR study will help the government take further action, the official added.

 

The official said that ICAR had issued crop-specific advisories to farmers, asking them to take general precautions and safety measures during harvesting, post-harvest operations, storage and marketing of rabi crops.

The government has imposed a 21-day countrywide lockdown to stop the spread of the coronavirus pandemic. There are more than 3,000 confirmed cases of coronavirus in the country at present. Meanwhile, the official said ICAR had offered all its guest houses located in different states for quarantine use.

 

ICAR also said that its four institutes — Bhopal-based National Institute of High Security Animal Diseases (NIHSAD), Bengaluru-based National Institute of Veterinary Epidemiology and Disease Informatics (NIVEDI), Izatnagar-based Indian Veterinary Research Institute and Hisar-based National Research Centre on Equines (NRCE) — have required facility to do COVID-19 tests.

 

ICAR further said its institutes are providing food and ensuring hygiene in nearby labourer colonies. It is also contributing one-day salary of its staff, amounting ₹6.06 crore, to PM-CARES fund to combat COVID-19.

 

 

ICAR is documenting on impact on agriculture

E-commerce, Machinery - Pre-harvesting

Logistics hubs, and the related industrial and supply operations, remain operational

In light of the continuing emergency caused by the COVID-19 pandemic, CNH Industrial announced today that the majority of its European assembly operations will remain suspended until April 17. 

 

Logistics hubs, and the related industrial and supply operations, remain operational to guarantee as timely and efficient parts and service support to end customers as possible at this time. This decision has been taken considering the vital nature to society of the sectors in which the Company operates, especially in emergency situations: agricultural and construction machinery, the transport of goods and people, fire fighting vehicles and those dedicated to public safety.   

The safeguarding of the health and safety of Company employees remains at the forefront when taking decisions to suspend assembly activities, as well as to preserve others at minimum levels. To this end, CNH Industrial is following all national directives by implementing stringent measures and continuing to share and leverage internal best practices globally. This latest decision was reached in agreement with all social partners in the countries in which the Company operates.

Subsequent updates on European operations will be defined over the course of the coming weeks, based on COVID-19 developments.

Logistics hubs, and the related industrial and

Foodgrains

1.44 LMT wheat have been received in the last e-auction held on March 31, 2020

FCI (Food Corporation of India) has started conducting e-auction under Open Market Sales Scheme (OMSS) for providing wheat to the empanelled roller flour mills/state government to ease the supply constraint in the market. In the last e-auction held on March 31, 2020, bids for 1.44 LMT wheat have been received.

In view of outbreak of Covid-19, apart from regular e-auction, District Magistrates/Collectors have been authorised to lift directly from FCI depots at OMSS reserve price to cater to the needs of Roller Flour Mills and other wheat product manufactures.

Till now, 79027 MT wheat has been allotted in the following states through this route: Further, e-auction for rice is also conducted. In the last e-auction on March 31, 2020, bids for 77000 MT rice have been received from the state of Telangana, Tamil Nadu, J&K and so on. In addition, considering the emergent situation, States have been allowed to take rice under OMSS @ Rs. 22.50/kg without participating in e-auction to meet any requirement over and above the NFSA allotment and additional allocation done under PM Garib Kalyan Yojana Allocation.

So far, 93387 Metric Tonne (MT) rice has been allotted to the following six states as per their requests. Food Corporation of India (FCI) is ensuring uninterrupted supply of wheat and rice throughout the country during the lockdown period. FCI is fully prepared to meet not only the food grain requirement under National Food Security Act (NFSA) @5 KG/Month/Beneficiary but also any additional demand including supply of 5Kg/Person for next three months to 81.35 crore people under PM Garib Kalyan Ann Yojana.

As on March 31, 2020, FCI has 56.75 million MT (MMT) of food grains (30.7 MMT rice and 26.06 MMT wheat), according to a press release issued by the Ministry of Consumer Affairs, Food & Public Distribution.

Even in this challenging operational environment, FCI can meet the increasing demand of food grains by gearing up the pace of supply of wheat and rice throughout the country mostly by rail. A total of 53 rakes are being loaded on April 1, 2020, carrying about 1.48 Lakh Metric Tonne (LMT) food grain stock. Since the day of lockdown i.e. March 24, 2020, FCI has moved 352 rakes carrying an approximate quantity of 9.86 LMT.

1.44 LMT wheat have been received

Agrotech

Rai has also taken an additional charge of the chief executive officer (CEO) of Ramagundam Fertilizers and Chemicals Limited (RFCL). 

After serving as Executive Director at National Fertilizers Limited (NFL), a Miniratna PSU under the Ministry of Chemicals and Fertilizers, for many years, Nirlep Singh Rai has now been promoted as Director (Technical) of the company. 

Nirlep Singh Rai has also taken an additional charge of the chief executive officer (CEO) of Ramagundam Fertilizers and Chemicals Limited (RFCL). The company is a joint venture between NFL, Engineers India Limited (EIL) and Fertilizer Corporation of India Limited (FCIL).

 It was earlier in the reports that Rai would be recommended for the post of Director (Technical) of NFL by a Public Enterprises Selection Board (PESB) panel. Among the list of three candidates who were interviewed by the selection panel, Rai was selected for the post. Now, the selection has come to implementation and he has been appointed on the post for a period with effect from 1st April 2020 till August 31, 2022, i.e. the date of his superannuation, or until further orders. 

Talking about his educational qualifications, Nirlep Singh Rai holds a bachelor’s degree in Engineering in the Instrumentation and Control field, from Thapar University, Patiala. With a professional experience of more than 35 years, he has served NFL in different capacities in all the production units of the organization including heading the Nangal Unit for more than two years. During his course of being the Executive Director, he also took charge of the CEO at RFCL. While in NFL, Rai has worked in all units in various capacities and was also given charge of technical services and projects at the Bathinda unit.

Rai has also taken an additional charge

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

Verdepryn insecticide allows growers to maximise both yields and crop quality 

 

 Summit Agro USA has recently announced the launch of two new products – Verdepryn 100SL insecticide and Timorex Act fungicide. Verdepryn insecticide allows growers to maximize both yields and crop quality by providing exceptional broad-spectrum insect control in pome fruit, stone fruit, grapes, berries, tree nuts and citrus.

“We have been pleased with the results seen with Harvanta insecticide in vegetable crops. Now we can bring that same successful active ingredient – Cyclapryn – to additional crops in the form of Verdepryn,” said Mary DeMers, Summit Agro marketing manager for insecticides and fungicides. “Verdeprynis a Group 28 insecticide with a control spectrum that is competitive with, or better than, most currently available diamide insecticides and does so with much less active ingredient.” 

A purely organic formulation, Timorex Act is a botanical broad-spectrum fungicide with preventative and curative activity based on an extract of the tree tea plant. “An OMRI-listed product, Timorex ACT is poised to meet the rigorous standards for sustainable agriculture,” said Fred Yates, Summit Agro marketing manager for biologicals.

Launch of new website

In addition to the launch of the insecticide and fungicide, Summit Agro USA also announced the launch of its new website designed from the ground up to be a solutions-centric tool for growers, dealers, consultants and PCAs.

“We surveyed our customers and distribution partners about website resources. What we found was that these other sites tend to be product-focused in their approach,” said Bill Lewis, Summit Agro CEO. “We wanted our website to be an easily searchable tool that allows users to quickly and simply get answers for the control of the specific pests threatening their particular crops. This mobile-friendly website fits with Summit Agro’s overall strategy of bringing the market a unique mix of conventional and biological offerings.”

In order to achieve this, a robust database drives the site’s search function. It catalog multiple diseases, insects and weeds for over 600 crops. This makes the Summit Agro website among the most comprehensive, easy-to-use sites in the industry.

 

Verdepryn insecticide allows growers to maximise both

E-commerce, Poultry, Schemes - Banks

Borrowers in the poultry sector can avail 20 per cent of the working capital limit under the IND Covid Emergency Poultry Loan scheme. 

The Indian Bank has launched three new products to support farmers, poultry players and the workforce in the informal sector during the current crisis triggered by the outbreak of dreaded Covid-19 virus.

Under the IND Covid Emergency Agro-Processing Loan, agro-processing units can avail 10 per cent of the working capital limit. Borrowers in the poultry sector (layer/breeder/broiler) can avail 20 per cent of the working capital limit under the IND Covid Emergency Poultry Loan scheme.

 Similarly, under the IND KCC Covid Sahaya Loan, farmers cultivating crops and rearing animals and having Kissan Credit Card facility can avail 10 per cent of the limit as a soft loan, Indian Bank said in a statement. The loans are repayable in easy instalments with six months moratorium period, it said.

Besides, under a special credit package “SHG Covid Sahaya Loan”, women members of Self-Help Groups can avail loan @₹5,000 each. Thus, an SHG with 20 members can avail a loan up to ₹1,00,000 as a soft loan repayable in easy instalments, the Bank said.

Covid-19 has affected farmers and workforce in the informal sector as well. While the food and agro-processing companies’ have witnessed a decline in cash flow, farmers are facing a liquidity crisis as they have difficulties in working on their land and while accessing markets to sell their products or buy essential inputs. In the poultry sector, the industry is affected by fake news spread among the common public about their products

Borrowers in the poultry sector can avail