Connect with:
Thursday / November 21. 2024

logo
mobile-logo
Home2022June
AgroPolicy, Trade

India has shipped 13,69,264 MT of seafood worth Rs 57,586.48 crore during FY 2021-22

Despite several challenges in its major export markets caused by the Covid pandemic, India has managed to do an all-time high export. India has shipped 13,69,264 MT of seafood worth Rs 57,586.48 crore ($7.76 billion) during financial year 2021-22, despite heavy odds. During this period, export improved in rupee terms by 31.71 per cent, in USD terms by 30.26 per cent and in quantity terms by 19.12 per cent. In 2020-21, India had exported 11,49,510 MT of seafood worth Rs 43,720.98 crore ($5,956.93 million).

According to K N Raghavan, Chairman, Marine Products Export Development Authority (MPEDA), India managed to do an all-time high export despite several challenges in its major export markets caused by the Covid pandemic.

Frozen shrimp remained the major export item in terms of quantity and value and earned Rs 42,706.04 crore ($5,828.59 million). It accounted for a share of 53.18 per cent in quantity and 75.11 per cent of the total dollar earnings. Shrimp exports during the period increased by 31.68 per cent in USD value and 23.35 per cent in quantity.

The other items being the second largest export, fetched Rs 3,979.99 crore ($540.73 million), accounting for 12.96 per cent in quantity and 6.97 per cent in USD. The export of other items increased by 43.8 per cent in rupee value and 42.94 per cent in dollar value. Other items comprise surimi and surimi analogue products by 56.55 per cent in USD terms.

Frozen fish, the third largest export item, fetched Rs 3471.91 crore ($471.45 million), accounting for 16.55 per cent in quantity and 6.08 per cent in USD. The export of frozen fish increased by 20.44 per cent in quantity and 17.19 per cent in USD.

India has shipped 13,69,264 MT of seafood

Company News, Sustainability

UPL and Bunge will establish Orígeo, a new company providing end-to-end solutions to farmers in Brazil’s MAPITOBAPA macro-region

UPL Limited, a global provider of sustainable agricultural solutions and Bunge, a global leader in agribusiness, have announced a new partnership to increase productivity, profitability and sustainability for farmers in Brazil.

UPL and Bunge will establish Orígeo, a new company providing end-to-end solutions to farmers in Brazil’s MAPITOBAPA macro-region, drawing on its highly qualified technical team’s understandings of each producer’s needs from crop planning to harvest. Orígeo will combine Bunge’s expertise in financing, trading, and logistics matched with UPL’s comprehensive sustainable agricultural inputs, solutions, and services portfolio.

Orígeo’s offering will include seed, pesticide, biosolutions and fertiliser inputs; crop-planning assistance; agronomical advice; consulting on sustainability and regenerative and low carbon agriculture certification; agricultural financing solutions; and harvest marketing and logistics services. The company will also offer farmers digital agriculture services, including real-time information, recommendations and alerts using satellite-collected field data to improve decision-making and business efficiency.

Rossano de Angelis Junior, Bunge VP of Agribusiness in Brazil, stated, “Orígeo will work closely with the farmer, mapping needs, bringing solutions, and addressing business challenges. We want to simplify processes and make operations even more efficient so that farmers have more time to focus on what they do best – produce more and sustainably.”


UPL and Bunge will establish Orígeo, a

Company News, Sustainability

Hormel Foods continues ESG investment in practices to enhance soil health, water and air quality, and sequester greenhouse gases

Hormel Foods Corporation, a Fortune 500 global branded food company, along with its subsidiary Applegate Farms LLC, is leading the way in supporting farmers who employ regenerative agriculture practices, a holistic system of farming that encourages continuous innovation and soil improvement using techniques such as minimal or no soil tillage, regular crop rotation and cover cropping.

Hormel Foods recently became a major sponsor of an up to 50,000-acre regenerative-agriculture pilot project to be located throughout central and southeast Minnesota. Assistance from Hormel Foods and other participants will help provide financial incentives for farmers to participate in the project and adopt regenerative agriculture practices. Furthering regenerative agriculture is part of the Hormel Foods 20 By 30 Challenge, a set of 20 aggressive environmental, social and governance (ESG) goals the company intends to reach by 2030.

“As we face the daunting challenges of feeding a growing global population while protecting the planet, we believe advancing regenerative agriculture practices is a smart and responsible choice,” said Mark Coffey, group vice president of supply chain at Hormel Foods.

Hormel Foods continues ESG investment in practices

Agri Genomics, Company News

As part of this agreement, Corteva and MS Technologies have licensed the Enlist E3 soybean trait to BASF for development with the NRS trait in BASF germplasm

Corteva Agriscience, BASF and MS Technologies recently announced that they have entered into a mutually beneficial trait licensing agreement to develop next-generation Enlist E3 soybeans with the nematode resistant soybean (NRS) trait for farmers in the United States and Canada.

As part of this agreement, Corteva and MS Technologies have licensed the Enlist E3 soybean trait to BASF for development with the NRS trait in BASF germplasm. BASF has licensed its NRS trait to Corteva and MS Technologies for use in Enlist E3 soybeans. The three companies anticipate commercialisation of Enlist E3 soybean varieties containing the NRS trait in the late 2020s, pending applicable regulatory reviews and completion of field testing.

The new NRS trait is expected to provide unprecedented protection against nematode pests in soybeans, including soybean cyst nematode (SCN).

“Our nematode resistant soybean trait will be the first commercially available biotechnology trait developed to control nematodes,” said Linda Trolinder, Senior Vice President of BASF Seeds and Traits R&D. “BASF is in its 5th year of advanced field testing the NRS trait in the US and in our trials, it has demonstrated an average 8 per cent yield benefit above today’s SCN-resistant varieties.”

The Enlist weed control system is an industry-leading system for soybeans, corn and cotton. Enlist E3 soybeans are tolerant to 2,4-D choline, glyphosate and glufosinate herbicides, giving farmers additional options to manage resistant and hard-to-control weeds.

As part of this agreement, Corteva and

Agrotech, Finance

The investment is the first transaction for 57 Stars Direct Impact Fund and the second investment for 57 Stars Global Innovation Fund 2

57 Stars LLC, an independent global alternative investment firm targeting high-growth sectors driven by technological innovation, has announced that it has led a $40 million investment in WayCool Foods & Products Private Limited, India’s leading food and agri-tech platform. The investment is the first transaction for 57 Stars Direct Impact Fund and the second investment for 57 Stars Global Innovation Fund 2.

WayCool provides farmers with cohesive solutions, potentially increasing their income by up to 30 per cent while reducing food waste by up to 70 per cent.

57 Stars’ investment exemplifies the firm’s commitment to sustainable development and its dedicated impact investing strategy, which seeks to deliver compelling financial returns alongside meaningful positive social and/or environmental impacts.

Chinna Pardhasaradhi, CFO, WayCool, said “We are happy to partner with 57 Stars in the next phase of our journey. This investment illustrates the continuing confidence of mature global investors in fundamentally sound businesses delivering lasting impact.”

The investment is the first transaction for

Agri Genomics, North America, R&D

United States Patent and Trademark Office (USPTO) granted the company a patent for its Pod Shatter Reduction (PSR) Trait.

Cibus, a leader in precision gene editing in agriculture, announced that the United States Patent and Trademark Office (USPTO) granted the company a patent for its Pod Shatter Reduction (PSR) Trait. The PSR Trait, developed using the company’s Rapid Trait Development System® (RTDS), strengthens the sheath that contains the Canola (oilseed rape) seeds and, in so doing, reduces pod shatter yield losses.

Pod shatter refers to the pre-harvest release of oil seeds when the pod seam and connective tissue of the sheath that contains the Canola seeds breaks apart and releases the seeds. This occurs due to either a weakened pod seam or pod fracturing due to bad weather. Cibus’ PSR Trait reduces these yield losses due to pod shatter. PSR is called a Productivity Trait because it is part of a class of agricultural traits that address productivity and sustainability in farming by improving crop yields and lowering costs like diesel, fertilizer, and crop protection chemicals.

Greg Gocal, EVP and CSO at Cibus said, “It is a highly effective trait that has been developed using RTDS and has been validated in field trials over several years. We are preparing for the commercialization of PSR in the United States and Canada. We are expecting that our Pod Shatter Reduction Trait will be one of the first gene-edited traits launched in Europe subject to legislative changes in the UK and EU.”

Canola is a major global crop that is now planted on more than 50 million acres in North America, Europe, and Australia. It is second only to soybean as the most important annual crop source of vegetable oil in the world. Reducing pod shatter is a critically important trait for Canola farmers because pod shatter can result in yield losses of 10 per cent or more and increased expenses in farming practices during harvest. Cibus’ PSR Trait increases yields but also lowers the cost of farming by improving the flexibility for straight combining of canola and wheat, providing farmers the option to harvest wheat at the best possible time for the grain quality.

“Canola is a foundational crop for Cibus. Following PSR, we have a pipeline of additional Productivity Traits for Canola developed using RTDS. These include traits for Sclerotinia resistance and nitrogen use efficiency. Importantly, these are all traits that are critical to addressing farming sustainability as they would increase yields and lower the use of inputs like fuel, fungicides, pesticides, and fertilizers. Once developed, we believe that each of these traits will be important in many different crops,” said Rory Riggs, Chairman and CEO at Cibus.

United States Patent and Trademark Office (USPTO)

Company News, Singapore, Water

The merged company will be called Rivulis (In alliance with Jain International), and will be led by current Rivulis CEO Richard Klapholz, with dual headquarters in Singapore and Israel

Rivulis Pte. Ltd. and Jain Irrigation Systems Limited had announced that they have entered into definitive transaction agreements pursuant to which Rivulis will acquire multiple overseas subsidiaries which consist of the International Irrigation Business (“IIB”) of Jain Irrigation. The transaction consideration is a combination of cash and stock. Jain Irrigation will receive stock comprising 22 per cent interest in Rivulis, the holding company of the enlarged group (the “Company”), and cash for the financing of debt issuances of the IIB and of bonds issued by Jain International Trading B.V. (the “Transaction”), to create a climate and irrigation leader globally. Temasek, a global investment company headquartered in Singapore, will become the majority shareholder of the Company with a 78 per cent stake. The transaction is subject to required regulatory approvals and other customary closing conditions.

The Company will lead the mass adoption of modern irrigation solutions and digital farming by growers and business partners globally through its focus on accessibility, innovation, and sustainability.

The Company will be dual headquartered in Singapore and Israel and will continue to be named Rivulis Pte. Ltd. For the purposes of corporate branding, the company will be represented as “Rivulis (In alliance with Jain International)”. Richard Klapholz, the current Rivulis CEO, will continue to lead the Company. Top senior associates from the IIB are expected to continue in leadership roles across the Company. Jain Irrigation will also be a supplier of irrigation products made in India to the Company for its international markets outside of India.

Anil Jain, Managing Director of Jain Irrigation, commented, “ We anticipate that the merger with Rivulis will create a world leading player ideally placed to serve its global customer base thanks to its geographic footprint, breadth of offering as well as from technological depth and expertise in micro irrigation. This will enable us all to address climate change and food security challenges with sustainable solutions and implement the critical knowledge transfer for water efficiency and productivity for growers.  The combined entity will have a truly global presence in all relevant irrigation markets, enabling strategic growth and innovation that will further Jain Irrigation’s broad vision of reaching more small and large growers by creating shared value.”

Richard Klapholz, Rivulis CEO, added: “We are thrilled to have both companies join forces to better serve the growing needs of irrigation markets around the world. While benefitting from significant operational economies of scale and a dedicated, diverse employee base, we will ensure that all commitments to our grower community and to our combined business partners are maintained and further strengthened. Our goal is to ensure that all our customers will continue to be successful and benefit from a broader offering, leading industry brands, expanded manufacturing base and the support of leading irrigation services businesses. Rivulis, before the merger, represented the combination of four companies, and through this merger, several more companies from Jain Irrigation’s portfolio will be added, cementing our role as a market consolidator and leader across the globe and creating a single company with a much stronger financial foundation.”

The merged company will be called Rivulis

Agrotech, Company News, IT

 TraceX’s blockchain-powered platform will offer ‘bean to cup’ traceability for coffee produced by 3500 farmers in Araku Valley.

Bengaluru, based TraceX Technologies, a blockchain-powered traceability platform that enhances food and supply chain transparency, has partnered with international non-profit TechnoServe, to offer end-to-end digital traceability for coffee produced by 3500 farmers in Araku Valley, Andhra Pradesh. Through this partnership with TraceX, TechnoServe can provide their partner brands Blue Tokai and Humble beans the ability to track and record the journey of coffee through every stage of the production process, from bean to cup.

As a part of the ‘Sustainable Livelihoods for Smallholder Farmers’ program, grant-funded by the Walmart Foundation, TechnoServe currently works with 4000 farmers through Farmer Producer Organizations (FPOs) spread across 355 villages in the Araku Valley. Most of these farmers strictly follow organic farming due to which their yield capacity is much lower than their counterparts in Karnataka. Over the years, TechnoServe has assisted the farmers with agronomy training, building visibility, increasing coffee productivity, managing post-harvest, and providing the necessary market linkages. To further improve their livelihoods, TechnoServe has partnered with TraceX to ensure consistency in the quality of coffee produced, thus resulting in improved market linkage for the farmers. 

The TraceX’s solution to TechnoServe is a perfect example of seeing Blockchain Traceability in action. A connected supply chain with transparency across the multi-stakeholders is the need of the hour and that is being realized with TraceX’s Blockchain traceability platform.

TechnoServe uses the pre-harvest module to track the first mile connectivity of the coffee value chain. This is followed by the on boarding of Blue Tokai, Humble Beans and Slay Coffee clients onto the same blockchain network to track the post-harvest processes and generate a QR code product identity for consumer engagement. A seamless integration of all the stakeholders on a collaborative platform in the supply chain, building trustworthy and authentic customer brands. Sandesh Deranna, Crop Lead- Coffee Value Chain, TechnoServe, said, “TechnoServe’s program ‘Sustainable Livelihoods for Smallholder Farmers’, grant-funded by the Wal

Walmart Foundation, is aimed at improving the lives of smallholder farmers in Andhra Pradesh by establishing sustainable, locally-led systems and processes for FPOs and promoting good agriculture practices and post-harvest management practices among the FPO shareholders.”

Commenting on the partnership, Srivatsa Sreenivasarao, Co-Founder and CEO, TraceX, said “Traceability allows for a connected supply chain where brands can seamlessly access information about the work done by Farmer Producer Organizations in the pre-harvest stage. It offers transparency and differentiation to each stakeholder in the supply chain.”

 TraceX’s blockchain-powered platform will offer ‘bean to

Company News, Finance, India, Machinery - Pre-harvesting

Company experts will train 600 farmers on topics such as Financial Literacy, Farm Mechanization, Biomass Management and State Agricultural Subsidies

CNH Industrial Capital, the financial services division of CNH Industrial has launched a Financial Literacy Program, to educate farmers in Haryana and Uttar Pradesh. As part of its CSR (corporate social responsibility) initiative, company experts will train 600 farmers on topics such as Financial Literacy, Farm Mechanization, Biomass Management and State Agricultural Subsidies. The sessions will be conducted in significant farming regions like Bhiwani, Mahendragarh and Charkhi Dadri villages in Haryana; and Sonbhadra and Hardoi in Uttar Pradesh.

Launched on June 15 in the Charkhi Dadri district, this specialized program will initially help farmers familiarize themselves with the basic concepts of banking, digital payments, insurance, investments, fraud protection and financial planning.  A following session will focus on various Government initiatives such as Agricultural/Horticultural subsidies, farm mechanization plans and other value-added approaches. The program’s final session will focus on crop residue management, financing schemes for agricultural equipment, and regional subsidies offered by the state government.

“Educating Indian farmers on emerging technologies, policies and other government schemes will help them ease their financial burden and grow faster. This initiative will raise awareness amongst the farming community about the resources that are available to further elevate their productivity,” said Vishal Chaudhury, Managing Director-CNH Industrial Capital India. “We are confident that by the end of the program, the farmers will be capable of better managing their finances and producing in a more sustainable manner,” he added.

CNH Industrial Capital (India) Private Limited is an indirect wholly owned subsidiary of CNH Industrial N.V. and is licensed as a Non-Banking Financial Corporation under Reserve Bank India Act, 1934.

Company experts will train 600 farmers on

People

Gavriel will play a critical role in the introduction of Aleph Farms’ novel products into global markets

Aleph Farms, the first cultivated meat company to grow steaks directly from non-genetically engineered animal cells, has announced the addition of Yifat Gavriel as Chief of Regulatory Affairs and Quality Assurance. In this position, Gavriel will play a critical role in the introduction of Aleph Farms’ novel products into global markets. The establishment of a regulatory approval process for cultivated meat is underway in many countries around the world, with the Singapore Food Agency the first to approve it as an ingredient in 2020.

Didier Toubia, CEO and co-founder of Aleph Farms said, “In our work with regulatory agencies around the world, we have seen first-hand how they encourage innovation and have been willing to continue transparent dialogues with us and the wider cultivated meat industry. The next 6-12 months will prove critical as we work closely with regulators to launch our first product in key markets.”

Gavriel joins after previously serving as the head of regulatory affairs at Omrix Biosurgery Israel (a Johnson & Johnson subsidiary), where she managed the entire biological portfolio end-to-end, including biological products, combination products and medical device products.

Gavriel will play a critical role in

Company News

The New Facility enables a 30x increase in production capacity from Phinest’s original facility and incorporates state-of-the-art design and construction

Green Stripes Services, LLC (Phinest Cannabis), announces the opening of a new 40,000 ft² cannabis tissue culture and indoor nursery facility in Sacramento, CA to meet growing demand for pathogen-free cannabis nursery stock for the California cannabis industry. The New Facility was built by GCI – Green Capital Investments, LLC.

The New Facility enables a 30x increase in production capacity from Phinest’s original facility and incorporates state-of-the-art design and construction. The New Facility is capable of producing upwards of 15 million fully rooted cannabis plants yearly. Fred Barnum (Managing Member of the Developer) states, “The New Facility represents the future of tissue culture nursery operations. It is purpose-built, creating an environment that supports high phytosanitary standards to deliver the healthiest and most vigorous plants to licensed California cultivators and retailers.

“The New Facility includes space for tissue culture micropropagation production, rooting and hardening of plantlets, and research and development. Matthew Wich (COO for the Company) says, “Every aspect of the New Facility upholds the quality that has built Phinest’s reputation as a leading cannabis nursery operator. For our breeding and genetics partners, the New Facility provides a platform that delivers the best expressions of their work to the largest customer base.”

The New Facility enables a 30x increase

Agrotech

The new partnership will promote Evonik’s agribusiness capabilities and help to leverage its innovation in the area through better connections to the regional agribusiness ecosystem

Evonik has recently entered into a technological cooperation agreement with the AgTech Garage innovation centre in the Piracicaba Technology Park, in the state of Sao Paolo. The new partnership will promote Evonik’s agribusiness capabilities and help to leverage its innovation in the area through better connections to the regional agribusiness ecosystem.

“We are committed to developing innovative and sustainable solutions for the South American agricultural market. This partnership with AgTech Garage will help us to strongly connect with large companies and startups to promote and develop new technologies for the agricultural industry through open innovation”, said Diego Abreu, Global Marketing Head of Evonik Interface & Performance’s agricultural market segment.

AgTech Garage is one of the world’s main innovation hubs specialising in agrobusiness, promoting initiatives that connects startups, producers, investors, academics, scientists, and other stakeholders to develop technological solutions that contribute to a more sustainable, competitive, and socially inclusive agribusiness across the entire value chain. With established partnerships and the support of leading companies, AgTech Garage’s network provides an innovation dynamic: open, connected, collaborative and agile.

The new partnership will promote Evonik's agribusiness

AgroPolicy

Narendra Singh Tomar has said that the GOI wants to realise the vision of all-round and balanced development in the country

The Union Minister for Agriculture and Farmers Welfare, Narendra Singh Tomar has said that the Government of India wants to realise the vision of all-round and balanced development in the country. Tomar said that it is the belief of Prime Minister Narendra Modi that if the strength of the Northeast will increase, then the country’s strength will consolidate and with this strength the nation will move forward.

Further, Tomar launched the Honey Testing Laboratory at Dimapur, Nagaland, which will help beekeepers and processors for testing the honey produced. He also visited the Bamboo Museum and Organic AC Market. During these events, the Agriculture Minister of Nagaland G Kaito, Chief Secretary J Alam, Central Horticulture Commissioner Prabhat Kumar, other senior officers and distinguished people, farmers and scientists were present.

“The Northeast Region cannot be overlooked when it comes to all-round development. Therefore, through the schemes-programmes, funding and institutions of the government, it is our constant endeavour that the northeastern region should not depend on anyone, but should stand on its own feet and be able to contribute its fullest to the country’s development.” said Tomar, at an event organised at the North-East Agri Expo, Chumaokedlma.

Narendra Singh Tomar has said that the

Company News, Finance

Arya.ag records over 3X growth on its digital agri-lending book in the last 6 months

Arya.ag, India’s largest and fastest-growing integrated grain commerce platform, today announced crossing the distinct milestone of reaching the Rs 500 crore book outstanding on its embedded fintech platform, Aryadhan.

This feat is propelled by Arya.ag’s indigenously built digital capabilities, which have been customised for simplified and optimum use by smallholder farmers and farmer producer organisations (FPOs). With immediate access to finance, farmers, FPOs, and other stakeholders in the value chain can tide over any liquidity requirements and fend off any distressed sale scenarios after harvest.

Arya.ag’s technology stack built on IoT, analytics, AI, and ML enables minimal transaction costs and lower interest rates for borrowers while expediting the turnaround time (TAT) for loan disbursements. Today, Aryadhan is the largest NBFC in Warehouse Receipt Finance (WRF), distinguished by its deep outreach to farmers and FPOs. Its unique phygital model is especially relevant in near farm locations where banks are largely averse to lending citing risk considerations.

Arya.ag’s value proposition continues to find increased relevance with Agri stakeholders. The platform saw a sharp rise in its loan book from INR 142 crore in December 2021. Having disbursed over Rs 1200 crore so far, the platform has managed to maintain immaculate asset quality with near-zero NPA levels.

Recently, Arya.ag further consolidated its bouquet of digital lending offerings by introducing industry-first and revolutionary Insta-Loan and Insta-Release products. Arya.ag’s Insta-Loan allows a farmer to avail a loan instantly against her stored commodity at her discretion from the comfort and convenience of her home. The Insta-Release product enables farmers to have immediate access to their stocks upon payment of loans for further sale. Today, in a market that is adapting to digital solutions, 98 per cent  of all of Arya.ag’s loans are released digitally.

Arya.ag records over 3X growth on its