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Agro chems – Chemicals, Finance

 Company records Net Profit of Rs 3,626 crore in FY22, up 26% YOY

Agrochemical major, UPL Ltd., today reported financial results for the fourth quarter of FY22 (Jan-Mar 2022). Q4 FY22 Revenue witnessed robust growth of 24% YoY to reach Rs 15,860 crore, led by better product realizations (+19 per cent ), higher volumes (+3 per cent) and currency impact (+2 per cent)

 Q4 FY22 EBITDA grew by 26 per cent YoY to Rs 3,591 crore as against Rs 2,839 crore in Q4 FY21. Improved realizations, backward integration linkages for key products and effective supply chain management aided in delivering higher EBITDA margins (+46 bps)

Commenting on the performance, Jai Shroff, CEO, UPL Ltd., said, “We are delighted to share a strong set of results for Q4 2022, and another record year for UPL. Thanks to the dedication, agility and tenacity of our team, we have been able to significantly outperform the guidance given at the start of the year, with nearly every region seeing double-digit growth. FY22 was a year of challenging macro-environment, input cost inflationary pressures and supply chain disruptions and we chose to prudently invest towards ensuring reliable growth going forward.

Guided by our OpenAg purpose to create sustainable growth for all, we achieved important milestones in our mission to build a network that Reimagines Sustainability for the entire agricultural industry. In a significant achievement for this mission, our digital platform nuture.farm became the first company to successfully forward sell agricultural-related carbon credits in India.

As we look ahead into the new year, we feel very well-positioned to further power our growth trajectory as the demand outlook continues to be constructive supported by strong agri commodity prices. The positive traction in our differentiated & sustainable solutions business is expected to continue, led by new launches and a strong go-to market strategy. Further, we will continue to improve our leverage ratios and ROCE profile.”

 Company records Net Profit of Rs 3,626

Agro chems – Chemicals, Finance

As a sustainability-linked term loan, it is the largest of its kind in the Asia Pacific loan market

On 26 April 2022, Syngenta Group (HK) Holdings Company Limited has entered into USD 4,500 million syndicated three-year sustainability-linked term loan facility with a syndicate of banks from various jurisdictions led by the Agricultural Bank of China Limited Hong Kong Branch, Bank of China (Hong Kong) Limited, China Construction Bank Corporation, Hong Kong Branch and Crédit Agricole Corporate and Investment Bank. The initial size of this transaction was oversubscribed several times.

As a sustainability-linked term loan, it is the largest of its kind in the Asia Pacific loan market and has been the largest executed term loan facility in the Greater China loan market since the beginning of 2022 (according to Refinitiv). Syngenta Group’s global credit ratings are “A” from Fitch, “Baa1” from Moody’s and “BBB+” from S&P.

Syngenta Group, registered in Shanghai, China and with its management headquarters in Switzerland, has delivered strong growth with total sales of $2.4 billion in the first quarter of 2022. MAP revenues more than doubled to $650 million and continued to expand to 514 centers (149 new centers from end of Q1 2021) across China, with average MAP center sales up 57 percent year on year, serving farmers with solutions that increase yields and reduce greenhouse gas emissions.

As a sustainability-linked term loan, it is

Animal Health, R&D

The facility will provide scientific services and animal resources to students/researchers in conducting high quality research

Jayesh Ranjan, Principal Secretary, Industries & Commerce and Information Technology, Government of Telangana recently inaugurated the Central Animal Facility of BITS Pilani, Hyderabad campus. The facility will provide scientific services and animal resources to students/researchers in conducting high quality research. Ranjan also visited various facilities of the institute like High Performance Computing Cluster, Dhruva Space Center and MMNE (Microfluidics and Nano-electronics) Laboratory.

Prof G Sundar, Director, BITS Pilani, Hyderabad Campus presented a few crucial research projects and various social outreach programmes undertaken by the institute aligned with the focus by the Government of Telangana.

The facility will provide scientific services and

Agro Universities, Animal Health, R&D

Dr Devinder Kaur Kocher will work on the project titled ‘Evaluation of yeast-encapsulated essential oil-based biolarvicide formulation(s) for management of Aedes aegypti mosquito’ 

Dr Devinder Kaur Kocher, Professor, Department of Zoology, Punjab Agricultural University (PAU), has been awarded a competitive ad-hoc research project worth Rs 25 lakh, as Principal Investigator (PI) by the Department of Science and Technology (DST), Government of India under the DST SERB-POWER grant. The title of the project is ‘Evaluation of yeast-encapsulated essential oil based biolarvicide formulation(s) for management of Aedes aegypti mosquito.’ 

Dr GS Kocher, Principal Microbiologist and Head, Department of Microbiology, is the Co-PI of this project. The PI of the project Dr DK Kocher is already conducting a research on the non-chemical and eco-safe methods for the control of mosquito larvae and she was also granted a DST sponsored project on the biological control of mosquitoes in 2013.

Dr Neena Singla, Principal Zoologist (Rodents) and Head, Department of Zoology while congratulating Dr Kocher mentioned that work is going on in Zoology Department on various other important aspects including rodent control, bird management and impact of environmental pollution on animal and human health, she added.

Dr Shammi Kapoor, Registrar-cum-Dean, College of Basic Sciences and Humanities; Dr AS Dhatt, Director of Research and Dr TS Riar, Additional Director Communication, PAU congratulated Dr Kocher for this achievement and wished her all success in her future endeavours.

Dr Devinder Kaur Kocher will work on

Agro chems – Pesticides, Agro Universities

The building will house a soil testing lab and bio-pesticides production lab

Dr Ashok Kumar Singh, Deputy Director General (Agricultural Extension), ICAR virtually inaugurated the New Administrative Building, Soil Testing Lab and Bio-pesticides Production Lab of Krishi Vigyan Kendra, Badnapur, Jalna, Maharashtra.

In his inaugural address, Dr Singh highlighted the KVK’s efforts for doubling the farmers’ income in the country. He stated that the introduction of the additional enterprises like poultry farming, goat rearing, horticulture nursery and mushroom cultivation, etc., will help in doubling the farmers’ income. The DDG also stressed on linking the farmers with markets through the Farmers’ Producers’ Organizations (FPOs), crop residue management, water resource utilisation, conservation agriculture, reducing the cost of cultivation, processing and value-addition. The role of KVKs for the outreaching of the technologies developed to the farmers was underlined by Dr Singh.

Dr AS Dhawan, Vice-Chancellor, Vasantrao Naik Marathwada Krishi Vidyapeeth, Parbhani, Maharashtra highlighted the challenges and opportunities in front of farmers and the role of KVK in resolving them more strategically. He also urged the KVK to focus on developing good demonstration farm which will be useful to the farmers of the area.


Krishi Ratna, Vijay Anna Borade, Trustee, MSSM, Jalna, Maharashtra suggested the KVK’s Scientists to be ready to address the challenges faced by the agricultural community at the grassroot level. He also underlined that the Badnapur Campus is recognised for its outstanding contributions in the pulses’ researches and developing the climate-resilient varieties of pulses.

Dr Lakhan Singh, Director, ICAR-Agricultural Technology Application Research Institute, Pune, Maharashtra applauded the KVK’s work, especially, for the initiative of the Farmers’-Scientists’-Forum Meeting scheduled on 20th of every Month.

Dr DB Deosarkar, Director of Extension Education, VNMKV, Parbhani, outlined the initiative taken by the KVK during the short span of time.
Earlier, Dr SD Somwanshi, Head, KVK, Jalna – II, Maharashtra delivered the welcome address.

More than 200 farmers, extension functionaries, scientists and other officials from the various sections participated in the event.

The building will house a soil testing

Acquaculture, Agro Universities, Agrotech

MoA signed between ICAR Directorate of Coldwater Fisheries Research, Bhimtal, Uttarakhand with the Das and Kumars, Varanasi, Uttar Pradesh and the ICAR-Agrinnovate, New Delhi

A Tripartite Memorandum of Agreement (MoA) was signed by ICAR-Directorate of Coldwater Fisheries Research, Bhimtal, Uttarakhand with the Das and Kumars, Varanasi, Uttar Pradesh and the ICAR-Agrinnovate, New Delhi for the Technology Transfer of ‘Captive Maturation and Multiple Breeding of Golden Mahseer’ in Bhimtal.

The Chief Guest Dr Rajendra Singh handed-over the MoA to the Licensee, Harsh Aggarwal. The agreement will be valid for a period of seven Years.

Dr Pramod Kumar Pandey, Director, ICAR-DCFR, Bhimtal stated that the technology encompasses an efficient indoor system and method for the Year-round seed production of the endangered Golden Mahseer. It will facilitate its conservation and offer the livelihood opportunities through the sports fishery, ecotourism and conservation aquaculture.

The technology developed by Dr MS Akhtar, Senior Scientist, ICAR-DCFR, Bhimtal and his team has the prospects of reversing the population status of the Golden Mahseer from ‘Endangered’ to ‘Abundance’ in the near future.

The MoA is aimed to facilitate the close cooperation among the three parties and create a small business platform for Mahseer Conservation and fish-based ecotourism.

MoA signed between ICAR Directorate of Coldwater

Agrotech, North America, R&D

New facilities will expand local capabilities for producing biocompatible solutions for more sustainable agriculture.

Evonik has opened its new Applied Technology Center (ATC) in Americana, Sao Paulo, Brazil. Combining new laboratories, access to two pilot plants, and infrastructure to support customer training, the new “Agro Hub” strengthens its Interface & Performance business line’s support and testing capabilities for its agriculture market customers in the region.

Interface & Performance’s agro business offers additives and adjuvants for conventional and biological agrochemical formulations under its BREAK-THRU® brand. The broad portfolio of antifoams, dispersants, emulsifiers, oil enhancers, wetting agents, super-spreaders, and penetrants also includes biocompatible products for crop protection and seed treatments.

“The new collaborative environment enables us to quickly respond to our agro customers’ needs and changing market demands with customized solutions,” said Diego Abreu, Global Marketing Head of Evonik Interface & Performance’s agricultural market segment. “We can provide customers with a complete technical service for pesticides and biopesticides formulations, further strengthening our commitment to becoming the prime partner to the Central & South America agricultural industry.”

Biocompatible additives from Evonik improve biological crop protection formulations and enhancing sustainable yields in the fast-growing agricultural market in Central and South America. In particular, the shelf life of microbials is improved and the performance and stability of crop protection formulations increased. In the ATC, the agricultural team develops additives for biopesticides and bioinoculants for its customers in the region.

“We place great value on customer service and being close to our customers which helps us to understand their markets and support them every step of the way to develop the right conventional or biological solution,” said Lisa Roessler, Head Evonik Interface & Performances Agriculture and Functional Specialties product line. “Our team in Americana is fully equipped to develop new adjuvants and additives that improve the performance of agricultural products during application in the field.”

New facilities will expand local capabilities for

Agro chems – Chemicals

the new fungicide, OptiCHOS offers farmers a new, low-risk, residue free, and bio-degradable broad spectrum disease control solution, with low environmental and human impacts

UPL Limited has announced that UPL Group has acquired OptiCHOS, a naturally derived fungicide for its Natural Plant Protection (NPP) business unit. The NPP portfolio houses natural and biologically derived agricultural inputs and technologies. OptiCHOS offers farmers a new, low-risk, residue free, and bio-degradable broad spectrum disease control solution, with low environmental and human impacts.

The active ingredients of OptiCHOS were developed from the chitin-rich by-products of the shellfish industry by BioCHOS, a spin-off of the Norwegian University of Life Sciences. NPP’s acquisition of OptiCHOS includes the registration data package and patents enabling the product to be used in mixture of a wide range of fungicides, providing the agricultural industry a variety of options. OptiCHOS has already been submitted for approval for use in the European Union and NPP expects to be able to launch OptiCHOS products across the bloc in the next few years.

Mike Frank, President and COO at UPL said: “The addition of OptiCHOS to our comprehensive NPP biocontrol portfolio will enable us to further solve key global farmer pain points in an environmentally sustainable way by matching the efficacy levels of conventional fungicides with naturally-derived biosolutions. This reflects our mission at UPL to Reimagine Sustainability by harnessing the power of agriculture as a climate-positive industry. We look forward to delivering OptiCHOS-based products into the hands of farmers.”

OptiCHOS will be integrated into UPL’s ProNutiva programme which integrates naturally based biosolutions with conventional crop protection products to offer farmers tailored and adaptable packages that directly tackles pain-points. Through this programme, farmers can ensure higher yields with lower environmental impact while also improving their economic resilience and sustainability.

the new fungicide, OptiCHOS offers farmers a

Foodgrains, Pulses, Trade

The meeting was aimed at providing an impetus to ongoing trade, whilst also opening up potential avenues between the two countries.                  

Indian Pulses and Grains Association (IPGA), the nodal body for India’s pulses trade and industry, on 27th April 2022, held productive talks with Santiago Cafiero, the Argentine Minister of Foreign Affairs and International Trade, and Hugo Gobbi, the Argentine Ambassador.

The meeting, which was led by Bimal Kothari, the newly appointed Chairman of IPGA, was attended by other delegatory authorities including Sunil Sawla, the Treasurer of IPGA; Satish Upadhyay, Core Committee Member, IPGA; Sonia Kulkarni, CEO, IPGA and Pranav Marne, Deputy CEO, IPGA. The focus of the meeting was chiefly inclined towards promoting relations between India and Argentina and providing an impetus to ongoing trade, whilst also opening up potential avenues between the two countries. Kothari, Chairman, IPGA put forth the potential, the two countries have to further foster the volume of trade in the Agri-products space and pulses, especially lentils.

 Santiago Cafiero, the Argentine Minister of Foreign Affairs and International Trade and Hugo Gobbi, the Argentine Ambassador were keen to have a delegation from IPGA visit the provinces of Salta and Cordoba in July this year and welcome their insights on the overall agriculture system and explore trade opportunities between the two countries.

 Kothari, Chairman, IPGA extended an invitation to a large number of delegates from Argentina to attend the eagerly awaited sixth edition of ‘The Pulses Conclave 2022’ to be hosted by IPGA in September at Mumbai.

All the ideas and concerns put forward by IPGA, as well as its Argentine counterpart, received unanimous support from members and guests present for the meeting, stressing the importance of improving access to markets, achieving a sustainable food future, fostering new opportunities for value-addition, and creating jobs in particularly semi-urban and rural areas.

The meeting was aimed at providing an

Supply Chain, Trade, World

The whole batch contains super creamy Hass avocados, and the units are bundled in 4 kg tray packaging

Leading fruit importer IG International have received an inaugural batch of first-grade Tanzanian avocados from Avo Africa, Tanzania. This is the first-ever shipment of avocado cultivars from the East African nation. The whole batch contains super creamy Hass avocados, and the units are bundled in 4 kg tray packaging. These first-grade fruits will be keenly priced in comparison to the cultivars from other countries, as there is no levied custom duty on their import.

Avo Africa is a part of the Keitt Group of companies. Keitt Exporters prides itself on being the leading grower & exporter of fruits and vegetables to markets in Europe and the Middle East for over two decades now. They are the biggest growers and exporters of avocados from Tanzania and Kenya.

Speaking about the procurement of avocados from Tanzania, Shubha Rawal, COO, Procurement and Marketing, IG International said, “Avocados have established their reputation as a global fruit and are indeed one of the healthiest in the world. Multifarious cuisines are using these ambrosial fruits for preparing exclusive platters. For a long time, India had been bereft of the goodness of creamy Tanzanian avocados. At IG International, we will offer them the joy of biting into a selectively luscious bunch of hass avocados straight from the lush green lap of Tanzania at very fair prices.”

Dipesh Devraj, Commercial and Operations Director, Keitt Group – Tanzania and Kenya said, “In January, a trade prohibition on avocado shipments from Tanzania to India was removed, allowing us to access the Indian fresh produce market. Over the years, our avocados have been adored across the world, and now we wish to introduce them to India. Anyone apart from IG International would not have sufficed as we were only going to approach the best. Their extensive network and our stringent quality control are a winning combination.”

The whole batch contains super creamy Hass

Company News, Inputs

nurture.retail platform to sell 40+ Agfarm products at exceptionally competitive market prices  to over 70,000 agri-inputs retailers and dealers across 13 Indian states.

 nurture.farm, India’s leading AgTech startup for end to end agriculture ecosystem related solutions, announced an exclusive tie-up between its online B2B platform nurture.retail and Dubai based agrochemical company – Agfarm. To begin with, a total of 40+ products from Agfarm will be available for purchase on the nurture.retail platform. These include a range of herbicides, insecticides and fungicides, which can be applied to a wide variety of crops. Glyphosate, Emamectin Benzoate, Thiamethoxam, Pretilachlor, Paclobutrazol are a few of the molecules launched, among others. Additionally, the nurture.retail platform will also be launching Agfarm’s patented molecules targeted to different pest segments.

Along with launching innovative and patented products, the tie-up will also bring products at highly competitive rates for the 70,000 retailers using the nurture.retail app. Consequently, the price benefit will get passed on to the farmers, who will witness lower input costs and access to better and advanced biochemistry.

Speaking about the partnership, Dhruv Sawhney, Business Head and COO, nurture.farm, said, “We aim to offer our 70,000 and growing base of Ag-input retailers and dealers using the nurture.retail app the choice of authentic quality products at competitive prices. The product range offered via our exclusive partnership with Agfarm will help address some of the most pressing issues farmers face in protecting their crops from pests and diseases thus building resilience. Additionally, the digital platform brings these products to the retailers and subsequently to the farmers at extremely affordable rates. We are also building strong forecasting and predictive models that will allow us to align timely placement of critical products in areas most prone to pest and disease attacks. “

Commenting on this exclusive partnership, Vaman Alawadhi, Director, AgFarm, said, “AgFarm aims to empower the agricultural community through digitalization. We decided to ditch the traditional way of over-the-counter selling and chose to sell our products online instead because digital buying and selling of agro-inputs is the only way to break the vicious circle of mediators. It gives the dealers and retailers direct access to manufacturers and ultimately enables them to pass on the service benefits to farmers. Availability of authentic and quality products at a fair price leads to better crop quality and higher yields. This association will help us a great deal in achieving our goal as through their platform we will get to serve more than 70,000 retailers and dealers directly.”

nurture.retail platform to sell 40+ Agfarm products

Agrotech

The eligibility criteria for the PLI scheme for drones and drone components includes an annual sales turnover of Rs 2 crore for drone companies and Rs 50 lacs for drone components manufacturers

The Ministry of Civil Aviation (MoCA) has opened the application window for those manufacturers of drones and drone components, who may have crossed the PLI eligibility threshold for the full financial year.

The final list of PLI beneficiaries is expected to be released by June 30, 2022 after detailed scrutiny of their financial results and other specified documents. 

Earlier on April 20, 2022, MoCA has published a provisional list of 14 PLI beneficiaries based on the financial results submitted by PLI applicants for the ten-month period. These include five drone manufacturers and nine drone component manufacturers. 

The eligibility criteria for the PLI scheme for drones and drone components includes an annual sales turnover of Rs 2 crore for drone companies and Rs 50 lacs for drone components manufacturers; and value addition of over 40 per cent of sales turnover.

The PLI scheme for drones and drone components was notified on September 30, 2021. Under the scheme, a total incentive of Rs 120 crore is spread over three financial year which is nearly double the combined turnover of all domestic drone manufacturers in FY 2020-21. The PLI rate is 20 per cent of the value addition which is one of the highest among other PLI scheme.

The eligibility criteria for the PLI scheme

Finance, Machinery – Post-harvesting, Schemes - Banks

J&K Bank will provide financing to prospective customers who can avail affordable and hassle-free financing facilities on Mahindra branded tractors and farm machinery, via its branches.

Mahindra & Mahindra’s Farm Equipment Sector has signed a memorandum of understanding (MoU) with the Jammu & Kashmir Bank to finance Mahindra’s range of tractors and farm machinery.

As one of the oldest nationalised banks in India, with its corporate headquarters in Srinagar, J&K Bank will provide financing to prospective customers who can avail affordable and hassle-free financing facilities on Mahindra branded tractors and farm machinery, via its branches in Srinagar, Jammu & Kashmir, Punjab, Himachal Pradesh, Leh and Ladakh.

Commenting on the collaboration, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “Access to credit is a major hindrance in allowing farmers to employ mechanisation solutions in their farmlands. With J&K Bank we at Mahindra aim to help farmers purchase the latest Mahindra farm equipment in the region. Through J&K Bank’s wide network, we also aim to offer improved access to affordable credit through innovative and attractive financing solutions that will help farmers acquire the latest farm equipment to boost their yields.”

Speaking on the occasion, President, J&K Bank, Syed Rais Maqbool said, “In line with our customer-centric strategy, we have entered this tie-up with the country’s leading Tractor and Farm Equipment maker to enhance credit to the farm equipment sector, thereby facilitating ease of farming for people belonging to agricultural sector. The agreement shall entitle our customers for appropriate discounts from M&M along with the bank’s competitive rate of interest.” Syed Rais Maqbool further added “I hope the agreement will enable both the J&K Bank and M&M to leverage the inherent strengths of each other’s brand and network of outlets across India with focus on J&K and Ladakh where we have 851 business units.”

J&K Bank will provide financing to prospective

Agrotech, Finance

First-quarter EBITDA for 2022 increased 25 per cent to $1.9 billion

Syngenta Group has announced the results for the first quarter of 2022. First quarter sales increased to $8.9 billion, up 26 per cent. First-quarter EBITDA for 2022 increased 25 per cent to $1.9 billion. Syngenta Group China delivered strong growth with total sales of $2.4 billion in the first quarter of 2022. MAP revenues more than doubled to $650 million and continued to expand to 514 centres (149 new centers from end of Q1 2021) across China, with average MAP center sales up 57 percent year on year, serving farmers with solutions that increase yields and reduce greenhouse gas emissions.

Syngenta Group managed its supply chains in the face of procurement and increasing logistics challenges to meet grower needs. Procurement, logistics, energy and other operating cost increases and negative currency effects were offset by productivity improvements and higher selling prices across all businesses.

Synergy-driven sales increased by more than 140 per cent in Q1 year on year to more than $0.3 billion, with a profit contribution that tripled to $0.1 billion in the quarter.

In the first quarter of 2022, Syngenta Crop Protection sales grew 25 percent to $4.2 billion. Sales in Europe, Africa and the Middle East grew 8 per cent and in Asia Pacific (excluding China) 5 per cent. Driven by exceptional demand, sales in Latin America increased 70 per cent; North America 43 per cent; and China 46 per cent. Higher prices offset higher costs.

Syngenta Crop Protection acquired two next generation bioinsecticides from Bionema, a leading UK-based biocontrol technology developer. NemaTrident® and UniSpore® help combat increasing resistance and protect crops against a wide range of insects and pests.

In Indonesia, Syngenta Crop Protection launched NELVIUM, a pheromone based biological to control pests in rice. In El Salvador, the first regulatory approval was achieved for TYMIRIUM® technology which provides long-lasting protection against a broad spectrum of nematodes and diseases across all major crops.

ADAMA sales grew 28 per cent in the first quarter to $1.8 billion, helped by early demand. Sales in Europe grew 6 percent; North America 47 per cent; Latin America 28 per cent; India, Middle East and Africa remained flat; Asia Pacific (excluding China) grew 25 per cent. In China, sales doubled. Higher selling prices offset raw material, logistics and energy cost increases as well as negative currency effects.

In the first quarter of 2022, Syngenta Seeds sales grew 15 per cent to $1.4 billion. Field crop sales in Europe, Africa and the Middle East grew by 10 percent; North America 5 percent; the Asia Pacific (excluding China) 65 percent; and China 53 percent. Sales in Latin America doubled driven by higher corn sales across the region. Impacted by adverse currency effects, sales of vegetable seeds remained flat, and flowers were 3 per cent lower. Higher prices offset higher costs.

First-quarter EBITDA for 2022 increased 25 per