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R&D, Sustainable Energy

Praj is offering its State of the art, worlds’ first-of-its-kind RenGas technology developed using proprietary microbe to produce CBG from rice straw. 

Praj Industries bags the prestigious breakthrough order from Hindustan Petroleum Corporation Limited (HPCL) for setting up the Compressed Biogas (CBG) project at Badaun in Uttar Pradesh. Praj is offering its worlds’ first-of-its-kind RenGas technology developed using proprietary microbe to produce CBG from rice straw.

The project has capacity to process 35000 MT of rice straw as feedstock to generate 5250 MT of CBG annually. In addition, the project will also generate 23,000 MT high quality solid bio[1]manure and 350,000 MT of liquid bio-manure for ferti-irrigation. This project has a potential to save up to 15000 MT of CO2 emissions per year. The project will be completed and commissioned within 12 months timeframe.

The Best-in-Class RenGasTM technology, to process agri-residues for the production of CBG is developed at Praj-Matrix, Department of Scientific and Industrial research (DSIR) certified the R&D centre. Praj has incorporated unique dual plug flow digestor design, in collaboration with DVO Inc of USA. This patented design technology has several advantages including higher efficiency, lower energy consumption and near zero maintenance. RenGasTM technology yields are considerably higher compared to conventional biogas processes.

The project will generate significant employment opportunities in surrounding farming and rural community. Agricultural waste in the form of rice straw procured as feedstock for the CBG project will provide additional income revenue stream to farmers.

Speaking on this development, Shishir Joshipura CEO & MD of Praj said, “We are  delighted to partner HPCL for the CBG project at Badaun UP which will  deploy RenGasTM technology an integral part of our Bio-MobilityTM platform. This project is a definitive solution to meet the challenge of air pollution related to stubble burning while simultaneously enable sustainable decarbonisation. We are already executing for HPCL advanced biofuels project at Bhatinda Panjab, based on our enfinity 2G technology that uses rice straw as feedstock to produce ethanol. We look forward to continue strengthening of our association with HPCL in future.”

Praj is offering its State of the

Europe, R&D, Seeds

A team of researchers and breeders from Rijk Zwaan in the Netherlands, Spain and Italy have developed a number of high-yielding squash varieties with particularly good fruit quality and the resistance to the New Delhi virus. 

The New Delhi virus (ToLCNDV) has been causing serious problems for squash growers in the Mediterranean region for close to a decade. The plant virus can attack the foliage and the fruits in any stage of cultivation, resulting in smaller, misshapen fruits and ultimately a lower yield. Following years of research, vegetable breeding company Rijk Zwaan has now introduced the first squash varieties with resistance to the New Delhi virus.

A team of researchers and breeders from Rijk Zwaan in the Netherlands, Spain and Italy have succeeded in developing a number of high-yielding squash varieties with particularly good fruit quality and resistance to the New Delhi virus. “There is huge market demand for such products. Even though Rijk Zwaan is still a relatively small player in squash, we wanted to offer a solution for growers who are affected by this virus,” comments María Lourdes Pérez Aguilera, Squash Breeder at Rijk Zwaan in Spain. The company has now taken an important step in this segment with the launch of squash varieties with resistance to the New Delhi virus.

Extending the reach

Rijk Zwaan is working hard to ensure that varieties with resistance to this unpredictable virus are available for as many growers as possible. The first batches of seeds have already been supplied to a group of selected growers for use in the upcoming season. In parallel with the production process, the Rijk Zwaan team is continuing the breeding work to extend this resistance to the company’s other open field and protected cultivation squash varieties.

Defense label indicates strong and resilient varieties

As a vegetable breeding company, Rijk Zwaan is constantly innovating to develop strong and resilient varieties that produce high-quality vegetables in various climate zones and under various growing conditions. Rijk Zwaan markets its varieties that have ground-breaking, innovative resistances under the Defense label. The squash varieties with New Delhi resistance definitely fall into that category and will therefore be sold under the DelhiDefense label.

About the New Delhi virus

The Tomato Leaf Curl New Delhi virus (ToLCNDV) was first discovered on tomato plants in India in 1995. In 2012, the same virus was found on squash plants at production sites in Murcia, Spain. The virus soon spread rapidly across the Iberian Peninsula, causing major problems for Spanish growers.

A team of researchers and breeders from

Acts & Schemes – Centre, R&D

Granted conditional exemption is for conducting the trials to evaluate drone spraying solution for controlling pest and diseases of sugarcane crop using drones. 

Ministry of Civil Aviation (MoCA) and Directorate General of Civil Aviation (DGCA) have granted a conditional exemption to ICAR – Indian Institute of Sugarcane Research (llSR), Lucknow, Uttar Pradesh for conducting the trials to evaluate drone spraying solution for controlling pest and diseases of sugarcane crop using drones.

The exemption is valid until 30th November 2021 from the date of issue of the permission letter or until the Digital Sky Platform becomes operational, whichever is earlier. This exemption shall be valid only if all conditions and limitations as stated below are strictly adhered to. In case of violation of any condition, this exemption shall become null and void and action may be initiated by MoCA & DGCA.

Conditions and limitations to the ICAR – Indian Institute of Sugarcane (IISR) Research to use Remotely Piloted Aircraft Systems (RPAS). The llSR shall obtain necessary clearances from (a) Local Administration (b) Ministry of Defence (c) Ministry of Home Affairs (d) Air Defence Clearance from Indian Air Force (e) Airport Authority or India (AAI) and (f) Ministry of Agriculture [as applicable) prior to operation of Remotely Piloted Aircraft System (RPAS). 

M s General Aeronautics engaged by llSR (through Mahindra & Mahindra ltd.) shall only operate the RPAS models specified in the approved Standard Operating procedures (SOP) No. GA/DGCA/CA0202 Revision No. Initial Issue dated 08 January 2021. The operations of the RPAS having valid Drone Acknowledgement Number (DAN) [specified in the approved SOP] shall be operated as per the above-mentioned approved SOP in the area specified therein. Any change in the approved SOP for e.g. Change in procedures or RPAS or use case or personnel or area specified in the approved SOP shall be included in the SOP and submitted to DGCA for approval. 

 The photographs/video-graphs,  if taken through RPAS shall be used by llSR only. llSR shall be responsible for the safety and security of RPAS and data collected through RPAS. llSR shall adhere to DST Guidelines for acquiring and producing geospatial data and geospatial data services including maps (if applicable).

llSR shall ensure their 10 items are discharged or dropped during light of the RPAS. The llSR shall a so ensure that hazardous material or variable payload are not carried in/using the RPAS under any circumstances except allowed pesticides.

 

 

 

Granted conditional exemption is for conducting the

Agrotech, Singapore

The online forum discussed topics like Regulatory frameworks for pesticide application by drones around Asia Pacific, and Safety Standard Operating Procedure (SOP) for pesticide application by drone.

CropLife Asia’s Drone for Pesticide Application Online Forum was conducted on March 8 to 10, 2021 and brought together virtually technology experts and sector stakeholders from across Asia and around the globe. The three-day conference was structured to convey and grow: a common understanding of drone benefits to sustainability as well as farmers’ safety and productivity; a strong cross-sector partnership between government and industry; and open exchange of knowledge and best practices to manage risks and concerns.

A total of seven sessions were conducted during the forum to guide the discussion on a range of topics. From the ’government’ perspective, this included sessions on Digital transformation and its impact on government agricultural policies; Regulatory frameworks for pesticide application by drones around Asia Pacific; and Safety Standard Operating Procedure (SOP) for pesticide application by drone. Sessions focusing on the ’field’ perspective included: R&D – Technology enablers for pesticide application by drone; and Commercial adoption of drone for pesticide application in APAC. Lastly, capturing the “future” perspective were sessions on: Emerging technological advancements in drones for pesticide application; and Roundtable – Future collaborations to drive best practices in the region.

 A first-of-its-kind virtual conference on drone use for pesticide application in Asia concluded this week after three days of dialogue and discussion among stakeholders from across the food supply chain. “Our industry takes seriously its commitment to ensuring responsible use of plant science technologies and sustainable agricultural practices. Drones are a new tool that can support and strengthen that effort – and have the potential to play a transformative role in Asian agriculture”, said Gustavo Palerosi-Carnerio, CropLife Asia President.

 

The online forum discussed topics like Regulatory

AgroPolicy, Agrotech, Trade

The trade fair with a theme ‘India Rice and Agro Commodity’, will focus on showcasing the exports potential of various agricultural commodities. 

In a first of its kind initiative for boosting export potential of India’s agricultural and processed food products during COVID19 pandemic, APEDA has launched its first Virtual Trade Fair (VTF) yesterday on 10th March 2021. The fair will conclude on March 12, 2021.

The fair with a theme ‘India Rice and Agro Commodity’, will focus on showcasing the exports potential of various agricultural commodities. Importers as well as exporters will be key participants of the VTF. The potential buyers or importers and visitors will get to explore a wide range of food products presented by the exporters through this virtual fair.

The key products which would be displayed through VTF include – basmati rice, non-basmati rice, millets, wheat, maize, groundnut and coarse grains. So far 135 Exhibitors have registered for the VTF. Further 266 Indian and international buyers from United Arab Emirates, Brazil, New Zealand, France, Saudi Arabia, United Kingdom, Afghanistan, Bahrain, Egypt, Fiji, Philippines, Qatar, Sudan, Myanmar, Netherlands, and Peru have registered at the starting of the events. The buyers have been generated with the support of Indian Embassies abroad.

Because of COVID19 related restrictions on physical travel and trade, APEDA has initiated the concept of VTF for sustaining India’s agricultural and processed food products exports and also exploring new markets for expanding export footprints.

In the pre-COVID19 era, trade fairs and exhibitions have been instrumental in promoting export of agricultural foods by APEDA. In the VTF, the trade facilitation would take place using interactive technology.

Through VTF, the exporters and importer meetings can be held with no interruption via audio as well as video sessions. The fair provides the facility workshops, product launches, live streams and webinars. The virtual meet will have facilities for private meeting rooms, personalized meeting provisions.

The online interactions between exporters and importers and data exchanged during such interaction will be secured and can be accessed only by parties concerned.

 

The trade fair with a theme ‘India

Acquaculture, Agro Universities, R&D

It aims to bring in all the viable aquaculture technologies of the Institute in a single location for better technology demonstration and knowledge dissemination 

Tage Taki, Minister for Fisheries, Agriculture, Horticulture & Veterinary, Dairy Development and Fisheries, Government of Arunachal Pradesh recently inaugurated the Aquaculture Technology Park in Papum Pare, Agro Eco, Sonajuli . The Technology Park is a unique initiative of the ICAR-Central Institute of Freshwater Aquaculture, Bhubaneswar, Odisha that aims to bring in all the viable aquaculture technologies of the Institute in a single location for better technology demonstration and knowledge dissemination. This is a first of its kind in India. More than 500 farmers from adjacent Districts participated in the programme.

The Minister lauded the ICAR-CIFA for establishing the Aquaculture Technology Park in a remote place from the mainland.

In his Special Address,  Pratap Chandra Sarangi, Union Minister of State for Fisheries, Animal Husbandry & Dairying and Ministry of Small & Medium Enterprises stressed that the Park will play a key role in fostering the technology dissemination mechanism in the state, which in turn, will improve the productivity of the existing fisheries resources and paves the way for climate resilient, sustainable livelihood options for the tribal people and add more protein diet items to their food basket. 

 Bamang Felix, Minister for Home and Inter State Border Affairs, Rural Development and Panchayati Raj, Parliamentary Affairs, IPR & Printing, Government of Arunachal Pradesh regarded the Aquaculture Technology Park as an innovative concept which needs to be replicated in other places of the state as well.

 Tana Hali Tara, MLA, Arunachal Pradesh & Advisor to the Minister of Fishery & Veterinary, Government of Arunachal Pradesh was also present during the occasion. Prof. Saket Kushwaha, Vice-Chancellor, Rajiv Gandhi University applauded the noble efforts of ICAR-CIFA for reaching out to the farmers.

Dr. Saroj K. Swain, Director, ICAR-CIFA, Bhubaneswar, Odisha underlined the Institute’s achievements and development activities for the empowerment of the aqua-farmers of the country.

It aims to bring in all the

Finance, Supply Chain

A $2 million annual fund will support global strategic partnerships and innovation in the crucial areas of sustainability, food access and reduction of food waste. 

Dole Asia Holdings and its subsidiaries are focusing on both global awareness and immediate action with the launch of its Sunshine for All Fund, a $2 million annual fund that will support global strategic partnerships and innovation in the crucial areas of sustainability, food access and reduction of food waste. The fund is being launched in tandem with ‘The Growing Distance’, a short film that addresses the critical gaps the company sees as barriers to good nutrition for all.

 By partnering with the talented innovators, promising start-ups, and progressive partners, the Fund will address these gaps of affordability and waste, as well accessibility and acceptability – all driving to fulfil Dole’s Promise for the benefit of the People, the Planet, and our collective Prosperity.

“As we scale up our presence in India, we have the unique opportunity to put the Dole Promise to work in one of the largest and important consumer markets of the world. Our goal is to build partnerships with innovators and to unlock opportunities for growth and tangible solutions,” added Aashim Malhotra, Vice President and Managing Director APAC Region at Dole Packaged Foods, LLC.

The company is seeking partners – from entrepreneurs, start-ups, strategic thinking to social impact enterprises, and NGOs – to bring their expertise in food production, nutritional science, compostable packaging, supply chain, logistics, sustainable agriculture and fast-moving consumer goods, to bear.

 Barbara Guerpillon, Global Head of Ventures, Dole Packaged Foods and Asia Fresh, said, “The Fund is our signal to the world that we are open for business and that business is finding, feeling and fostering innovation, actions and change.”

Launched in India in November 2019, Dole Asia Holdings is a global multinational leader selling fresh and packaged fruits and fruit-based products worldwide. Dole is expanding its presence in India in partnership with Cantona Industries Private Ltd., as importer and PAN-India distributor.

 

A $2 million annual fund will support

Agrotech, Europe, Trade

 Through this acquisition, KWS will be able to accelerate the development of its own tomato breeding programs globally 

 KWS is consolidating the expansion of its new vegetable seed business with the acquisition of the vegetable seed company Geneplanta S.r.l., domiciled in Noceto/Parma, Italy. The Company, founded in 2011, focuses on breeding, production and sales of tomato varieties. Its main sales areas are realized in Italy and Mexico.

KWS is developing its own vegetable seed business through a greenfield approach with organic growth, supplemented by suitable acquisitions and the sales of licensed-in varieties.

Tomato is one of the world’s most important  strategically relevant vegetable crops along with peppers, cucumbers, melons and watermelons for KWS.

“We are delighted to welcome the Geneplanta team into the KWS family,” said Dr. Léon Broers, KWS Executive Board Member responsible for Research & Development and the Business Unit Vegetables. “They have established an attractive tomato portfolio within a relatively short period of time for the plant breeding industry”.

“With the introduction of Geneplanta, we have gained access to high-performance genetic material and will be able to significantly accelerate the development of our own tomato breeding programs globally”, added Paul Degreef, Head of the Business Unit Vegetables at KWS.

Geneplanta’s entire business will be integrated into the KWS Vegetables Business Unit. The acquisition was completed on March 9th, 2021. KWS is one of the world’s leading plant breeding companies. More than 5,700 employees in 70 countries generated net sales of around €1.3 billion in fiscal 2019/2020. It focuses on plant breeding and the production and sale of seed for corn, sugarbeet, cereals, vegetables, rapeseed and sunflowers.

 Through this acquisition, KWS will be able

R&D

This bio fungicide has been field-tested for several years and proven to be highly efficacious

Botanical Solution Inc. (BSI) and Syngenta, two companies that are closely aligned in their commitment to innovation and sustainability in agriculture, have announced that they have reached an agreement to commercialise BSI’s first product in Peru and Mexico. The two companies have already commercialised successfully the product in Chile under the trade name Botristop.

This bio fungicide has been field-tested for several years and proven to be highly efficacious and consistent in the prevention and control of Botrytis cinerea, especially for conventional growers of blueberries, vines and vegetables.

This innovative product is based on the extract of Quillaja saponaria Molina, a plant native to Chile. This biofungicide’s unique modes of action provide growers with an effective tool for resistance management and allow worldwide exports of top-quality fresh produce, while meeting the world´s strictest MRL guidelines.

In 2019, Syngenta launched BotriStop in Chile. In 2020 new uses were approved in the country, such as sour rot. It is estimated that currently over 25,000 hectares are protected by the product in Chile.

Meanwhile, both companies have recently agreed to further plans for distribution throughout Peru and Mexico.

Syngenta remains committed in its “Good Growth Plan” since 2013, with the goal of “improving farmers’ productivity and profit throughout the world with fewer resources, while protecting nature and improving life for people in rural communities.” For the years 2020–25, Syngenta’s “Good Growth Plan” calls for a $2 billion investment in sustainable agricultural breakthroughs, two new sustainable technology breakthroughs a year, and to strive for the lowest residues in crops and the environment.

 

This bio fungicide has been field-tested for

World

AgWater Challenge encourages better water stewardship among the world’s most influential food

Two major agricultural giants, representing 12 billion USD in annual revenue, announced new commitments to improve water stewardship as part of the Ceres and World Wildlife Fund (WWF) AgWater Challenge. They include Danone North America, owner of the iconic dairy and plant-based brands and leading sweetener and starch producer Ingredion.

Launched in 2016 by Ceres and WWF, the AgWater Challenge encourages better water stewardship among the world’s most influential food and beverage companies. These two commitments set a high-water mark for businesses to protect freshwater resources in their agricultural supply chains. With the global food sector using 70% of the world’s fresh water supply, food and beverage companies play an important role in protecting water quality and supply.

In August, the AgWater Challenge released a new area of focus, calling on companies to go a step deeper by committing to sustainable agriculture principles that create a positive effect on water resources via soil health and nutrient management practices.

With these two commitments, the AgWater Challenge facilitated the addition of 1.1 million acres over the next ten years to the land farmed with both water stewardship and sustainable agriculture in mind.

The new commitments from Danone North America and Ingredion build on previously made commitments from other AgWater Challenge participants including Target, Driscoll’s, Diageo, General Mills, Hormel Foods, Kellogg Company, and PepsiCo. This is the second AgWater Challenge Commitment for Danone North America.

 

AgWater Challenge encourages better water stewardship among

Acts & Schemes – Centre, Trade

Out of 38 private markets, 18 markets have been developed in Maharashtra, 6 in Gujarat, 12 in Rajasthan and 2 markets in Karnataka

Union Agriculture Minister Narendra Singh Tomar said in the Lok Sabha on March 9, “Private companies have developed 38 farm markets in four states with a total investment of over Rs 300 crore in the last three years”. As per the 2006 National Commission on Farmers’ Report, the minister said that there should be one market to serve 80 square kilometre (sq km), whereas presently one regulated market serves 473 sq km.

As per the information available from state governments, a total number of 38 private agriculture markets have been developed during the last three years including the current year involving a total investment of Rs 301.19 crore, Tomar said.

Out of which, 18 markets have been developed in Maharashtra with an investment of Rs 88.62 crore, six markets in Gujarat at Rs 151.6 crore and 12 markets in Rajasthan at Rs 49.75 crore and two markets in Karnataka at Rs 11.22 crore, he added.

“In order to realize a greater number of markets in the country and to induce competitiveness and efficiency in the marketing ecosystem, there is a felt need for investment in farm marketing. Farm laws aim at promoting agriculture marketing infrastructure and supply chains for efficiently connecting farm gates to markets for the benefit of farmers by encouraging investments,” Tomar said in his written reply to the Lower House.

The minister added that these farm Acts facilitate direct buying from farmers in trade areas by traders, processors, exporters, Farmer Producer Organizations (FPOs) and Agri co-operative societies so as to facilitate farmers with better price realization to enhance their income.

 

Out of 38 private markets, 18 markets

Agro Universities, R&D, Seeds

Nutritional profiling of 300 selected rice varieties has been done for market linkage and better price to the farmers. 

Indigenous varieties of rice are being promoted through varieties programmes. 574 indigenous varieties of rice have been propagated and tested at more than 10,000 farmers’ fields, involving state agricultural universities, KVKs and NGOs through a project entitled ’Mainstreaming Agricultural biodiversity conservation and utilization of the agriculture sector to ensure ecosystem services and reduce vulnerability’.  Nutritional profiling of 300 selected rice varieties has been done for market linkage and better price to the farmers. Farmers are also being trained on conservation, improvement and use of traditional/ indigenous varieties through participatory variety selection.

Further, for access to seeds of these indigenous varieties, community seed banks have been established at the community level involving KVKs and Self Help Groups in remote and tribal areas of the country and a total of 26 community seed banks conserving more than 4000 native landraces and farmers’ varieties of different food crops including rice have been strengthened and established.

Rice varieties are also being promoted under the National Food Security Mission in 193 districts of 24 states and Union Territory. Similarly, ’Bringing Green Revolution to Eastern India (BGREI)’ a sub-scheme of Rashtriya Krishi Vikas Yojana is implemented in seven Eastern States viz., Assam, Bihar, Chhattisgarh, Jharkhand, Odisha, Eastern Uttar Pradesh and West Bengal to address the constraints limiting the productivity of ’rice-based cropping systems’ in Eastern India.

Five rice varieties viz., Lalat and Improved Lalat (GI value: 54) as low GI and Swarna, Sambha Mahsuri and Shaktiman (GI value <60) as intermediate GI have been identified and all these varieties are in seed chain and are being cultivated by the farmers.

There is no certification for GI (Glycemic Index) in rice. The details of indigenous rice varieties/ germplasm listed are as under:

Total rice germplasm conserved at National Gene Bank: 1, 09,834 including traditional varieties (6,707), land races (38400) and varieties released and notified (1190). Varieties registered with PPV&FRA: Total 2047 varieties have been registered which include 1645 farmers’ varieties.

Nutritional profiling of 300 selected rice varieties

Agro Universities, Agrotech

CBBOs will be the platform for an end-to-end support system for different issues in FPO cooperative business helping the farmers get various support. 

The Indian Council of Agricultural Research’s Institutions along with the Krishi Vigyan Kendras and National Cooperative Development Corporation (NCDC) jointly organized a Web shop to discuss the strategies for speeding-up the setting-up of Farmers’ Producers’ Organizations (FPOs) in 116 blocks in the country under the recently launched Central Scheme.

In his address, Parshottam Rupala, Union Minister of State for Agriculture & Farmers’ Welfare termed the ICAR and NCDC’s move to involve KVKs as Cluster-Based Business Organizations (CBBOs) as commendable. The Minister highlighted the launching of the Central Scheme by Prime Minister, Narendra Modi last year that aims to bring small and marginal farmers into production value-chains and help them boost their income.

The Minister stated that the CBBOs will be the platform for an end-to-end support system for different issues in FPO cooperative business helping the farmers get various support and be the game-changer in bringing about economic prosperity.

 Dr Trilochan Mohapatra, Secretary (DARE) & Director General (ICAR) underlined the challenges and opportunities of forming the FPOs. He stressed that it was not only important to set-up the farmers’ entity, but also to make them sustainable in the long run.

Dr. Ashok Kumar Singh, Deputy Director General (Agricultural Extension), ICAR stressed that the FPOs will ensure the small farmers with multiple benefits from ‘farm to market’ within a legal framework to resolve their problems.

Regarding the Scheme as revolutionary, Sundeep Nayak, Managing Director, NCDC highlighted the massive response received from the farmers. He outlined the use of a well-structured backbone of the ICAR which will help to meet the Prime Minister’s vision of Atmanirbhar Bharat through FPOs under the Cooperative Societies Act.

The main objective is to use a vast network backed-up by the ICAR and KVKs’ technology and scientific knowledge. Presently, out of a total of 717 KVKs having huge spread across the country, 468 are under the State Agricultural Universities, 65 under the ICAR and 22 under the Central Agricultural Universities in the country.

The Government has kept a total budgetary provision of Rs. 4,496 Crores for 5 Years with a further committed liability of Rs. 2,369 Crores for the next 5 years towards handholding of each FPO from its aggregation and formation under the Central Sector Scheme for “Formation and Promotion of 10,000 Farmers’ Producers’ Organizations (FPOs).

CBBOs will be the platform for an

Acquaculture, Schemes - Banks

Under this partnership, Bank of Baroda has extended loan for up to 10 lacs under KCC scheme and fisheries loan 

 The aquaculture tech pioneer ‘Aquaconnect’ has partnered with Bank of Baroda, India’s leading public sector bank to pave the way for access to formal credit for 1.6 million aquaculture farmers. This partnership has taken place at an opportune time as the Budget extensively talked about developing the fisheries sector with technological and financial interventions.

Bank of Baroda in partnership with Aquaconnect will provide credit access under the Kisan Credit Card scheme at an annualized rate of as low as 10 per cent. The fish and shrimp farmers can also avail the advisory services and quality farm inputs from Aquaconnect platform. Under this partnership, Bank of Baroda has extended loan for up to 10 lacs under KCC scheme and fisheries loan. Higher credit limits can also be availed under Pradhan Mantri Matsya Sampada Yojana (PMMSY) and The Fisheries and Aquaculture Infrastructure Development Fund (FIDF) schemes on case to case basis.

The partnership aims to make the loan application system hassle-free for aquaculture farmers along with access to Aquaconnect’s expertise through farm advisories and ease of buying farm inputs through Aquaconnect App. farmers can simply reach out to Aquaconnect on toll-free number 1800 123 1263, for loan queries. After which Aquaconnnect conducts the due diligence process and forwards the applications for further processing to BoB.

 The company aims to target Andhra Pradesh, Tamilnadu, Gujarat and Orissa and later extend it to other states of India. The partnership will benefit more than 15, 00,000 fish farmers & 150,000 shrimp farmers across India.

Rajamanohar, CEO, Aquaconnect, said “Due to the lack of formal credit access, Indian fish and shrimp farmers depend heavily on informal lending that pushes them to pay annualized interest as high as 40% to finance their farming operations. We are happy to partner with Bank of Baroda to enable low-interest farm loans for the farmers.”

Amit Salunkhe(Dhas) Head BFSI, Aquaconnect says on the partnership, “Aquaconnect’s AquaCRED platform helps banks manage the entire aquaculture lending portfolio throughout the loan lifecycle. We use cutting edge machine learning algorithms and satellite remote sensing analytics, to provide a near-real time view of the portfolio.”

 M V Murali Krishna, General Manager and Head, Rural and Agri Banking, Bank of Baroda said that this partnership will be a good opportunity for aquaculture farmers to avail loans at competitive interest rate along with technical expertise for shrimp farming.

 

Under this partnership, Bank of Baroda has