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Home2022November (Page 6)
Agro chems – Chemicals, Agro chems – Fertilizers, Company News, Finance, India

Fertilisers segment revenues grow by 47 per cent y-o-y

Deepak Fertilisers and Petrochemicals Corporation Limited, one of India’s leading producers of industrial chemicals and fertilisers (DFPCL), announced its results for the quarter ended September 30, 2022.  The company registered best financial performance with high growth in Q2 and H1. Company’s Q2 FY 2022-23 net profit jumped nearly threefold to Rs 276 crore whereas revenue was up by 51 per cent.

H1review:

The company’s net profit stood at Rs 93 crore during the corresponding quarter of the previous fiscal whereas operating revenue of the company grew by 51.7 per cent to Rs. 2,719 crore during the quarter under review, compared to Rs 1,793 crore in the same period a year-ago. H1 Fertilisers Segment revenues grew by 36 per cent y-o-y with segment margins of 8 per cent. Cost of production inevitably grew due to the sharp rise in the price of raw materials

Q2 review:

Company’s Q2 Fertilisers Segment revenues grew by 47 per cent y-o-y with segment margins of 7 per cent. Although the southwest monsoon started off abnormally, it made a full recovery after June. India received above normal rainfall during the monsoon season (June -Sept) Croptek Cotton and Maize was introduced in Kharif season. Croptek sales volumes received encouraging response during the quarter which was majorly in Cotton, Maize and Sugarcane.Restricted availability of MOP, key source of Potassium i.e ‘K’, majorly impacted Smartek portfolio in Q2. Cost of production has inevitably grown due to the sharp rise in the price of raw materials.

Commenting on the company performance in Q2 and H1, Sailesh C Mehta, Chairman & Managing Director said, “Despite huge RM prices hikes, our pass through remains healthy. Our strong alignment with India growth story provides positive tailwinds to demand growth for our products. Our drive from Commodity to Speciality continues to support premium margins and brand consolidation in the mining chemicals, pharma chemicals and crop nutrition businesses.

 Mehta also added that the unique ADB association has been a very satisfying acknowledgement of the efforts and impact we have been making with providing speciality and crop-specific performance fertilisers and our intense work at the farmer level. Our drive for fast-track project execution for the Ammonia and TAN projects continues full swing.

Fertilisers segment revenues grow by 47

Agrotech, India

25 per cent of revenue earned by NamFarmers will be shared with IISR, Lucknow

ICAR-Indian Institute of Sugarcane Research, Lucknow have signed an MoU with NamFarmers.com for faster dissemination of IISR developed technologies.The MoU will be helpful in quick dissemination of ICAR-IISR developed technologies.

The MoU was signed by Dr A D Pathak, Director, ICAR-IISR, Lucknow and Asif Riaz, General Manager, NamFarmers.com on behalf of respective organisations.

Under this MoU, the ICAR-IISR, Lucknow will get Rs 2 each for the registration of each sugarcane farmer with NamFarmers.com. The advisory and technological information shared by the IISR, Lucknow will be sponsored by private firms on NamFarmers.com and thus 25 per cent of the revenue earned by the firm will be shared with IISR, Lucknow.

Dr Pathak said that there is immense scope for dissemination of improved sugarcane production technology as the Institute has developed number of improved sugarcane varieties with matching production and protection technologies which need faster dissemination among the stakeholders.

25 per cent of revenue earned by

Acts & Schemes – Centre, Foodgrains, India

Millets market set to grow from its current market value of more than $9 billion to over $12 billion by 2025

To promote shipment of nutri-cereals, the Ministry of Commerce and Industry through its apex agricultural export promotion body, Agricultural and Processed Food Products Export Development Authority (APEDA) has prepared a comprehensive strategy to promote Indian millets exports across the globe commencing December 2022.

The millets export promotion programme comes at the backdrop of the proposal of India that was supported by 72 countries which lead to the United Nations’ General Assembly (UNGA) declaring 2023 as International Year of Millets (IYoM). The government is currently organising IYoM-2023 at domestic and international level to popularise Indian millets as well as its value-added products across the world and make it a peoples’ movement.

For exports of Indian millets’ promotion, centre has planned to facilitate participation of exporters, farmers and traders in 16 international trade expos and Buyer Seller Meets (BSMs). As per the government’s robust strategy to promote millets, Indian missions abroad would be roped in branding and publicity of Indian millets, identification of international chefs as well as potential buyers such as departmental stores, supermarkets and hypermarkets for organising B2B meetings and direct tie-ups.

APEDA has planned to organise millet promotional activities in South Africa, Dubai, Japan, South Korea, Indonesia, Saudi Arabia, Sydney, Belgium, Germany, United Kingdom and United States of America by facilitating participation of different stakeholders from India in some of the significant food shows, Buyer Seller Meets and Road Shows.

As part of the promotion of Indian millets, APEDA has planned to showcase millets and its value added product at various global platforms such as Gulfood 2023, Foodex, Seoul Food & Hotel Show, Saudi Agro Food, Fine Food Show in Sydney (Australia), Belgium’s Food & Beverages Show, Germany’s BioFach and Anuga Food Fair, San Francisco’s Winter Fancy Food Show, etc.

India’s top 5 millet producing states are Rajasthan, Maharashtra, Karnataka, Gujarat and Madhya Pradesh, while the share of export of millets is nearly 1 per cent of the total millet production. Exports of millets from India include mainly whole grain and the export of value-added products of millets from India is negligible. However, it is estimated that the millets market is set to grow from its current market value of more than $9 billion to over $12 billion by 2025. India’s major millet exporting countries are U.A.E, Nepal, Saudi Arabia, Libya, Oman, Egypt, Tunisia, Yemen, the UK and the USA. The varieties of millets exported by India include Bajra, Ragi, Canary, Jawar, and Buckwheat.

Millets market set to grow from

India, Live Stock

BIMSTEC Secretariat and the International Food Policy Research Institute (IFPRI) sign MoU

India hosted the Second Agriculture Ministerial-level meeting of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) on November 10, under the chairmanship of Narendra Singh Tomar, Union Minister for Agriculture and Farmers Welfare. Agriculture ministers of Bhutan, Bangladesh, Nepal, Myanmar, Sri Lanka and Thailand participated in the meeting. While addressing the meeting through video conference, Tomar urged the member countries to cooperate in developing a comprehensive regional strategy to strengthen cooperation for the transformation of agriculture and urged the member countries to adopt a conducive agricultural food system and a healthy diet for all.

The 2nd BIMSTEC Agriculture Ministerial Meeting adopted the Action Plan for Strengthening BIMSTEC Agricultural Cooperation (2023-2027). An MoU between the BIMSTEC Secretariat and the International Food Policy Research Institute (IFPRI) has been signed and approval has been given to bring Fisheries and Livestock sub-sectors under the Agricultural Working Group. Tomar, in his address, referred to the importance of millet as a nutritious food and the efforts made by India to promote millet and its products during the International Year of Millets – 2023. He asked participating countries to actively participate in India’s initiative to promote millet as a food. “Natural and ecological farming should be promoted to conserve agricultural biodiversity and reduce the use of chemicals”, Tomar added. 

BIMSTEC Secretariat and the International Food

Agrotech, Company News, Middle East countries, Sustainability

To become globally available to farmers interested in regenerative agriculture practices from 2023

 Israel-based Netafim, an Orbia business and a global leader in precision agriculture solutions, recently announced the first ever carbon credit programme for drip-irrigated rice. The aim of this inaugural program is to dramatically reduce methane emissions from rice cultivation to almost zero, while providing additional long-term income to growers. The first project for this program is located at the LaFagiana Farm in Venice, Italy and will be registered with Verra. The carbon credits programme will be available to farmers around the world interested in regenerative agriculture practices beginning in 2023.

Rice is the most prolific source of sustenance worldwide, approximately accounting for 21 per cent of global per capita caloric intake, and 27 per cent per capita caloric intake in developing countries. A staple for more than half of the world’s population, rice cultivation uses 30-40 per cent of the world’s annual consumption of freshwater while contributing to over 10 per cent of the world’s methane emissions.  

With Netafim’s innovation, carbon credits serve an important role in financially assisting farmers in adopting sustainable or regenerative agricultural practices that reduce or sequester emissions, with each credit representing one ton of CO2 equivalent emissions.

Sameer Bharadwaj, CEO of Orbia said, “Netafim’s carbon credit programme is a pioneering example of our company’s commitment to solving for global food security and economic enablement while contributing to a healthy planet. Through this programme, we are challenging 5,000-year-old assumptions about rice farming and demonstrating better, cleaner and more productive ways to sustain and advance lives around the world, by the billions.”

“If just 10 per cent of paddy rice farmers switch to drip, the drop in emissions will be equivalent to taking 40 million cars off the road,” said Gaby Miodownik, Orbia’s Executive Vice President & President, Precision Agriculture (Netafim). “This program marks the first time a carbon credit is being generated based on the application of irrigation technology.”

To become globally available to farmers interested

Live Stock, Sustainability

To invest $1.4 billion to help smallholder farmers 

The Bill & Melinda Gates Foundation echoed African Leaders Call for countries to rapidly scale-up finance for climate adaptation and pledged to invest $1.4 billion to help smallholder farmers address the immediate and long-term impacts of climate change. The announcement was made by Mark Suzman, CEO of the Gates Foundation at the United Nations Climate Change Conference (COP27).

“The effects of climate change have already been devastating, and every moment the world delays action, more people suffer, and the solutions become more complex and costly,” said Suzman. “Our commitment will help smallholder farmers adapt today and build resilience for the future. It is essential for this climate summit to produce bold commitments that address immediate and long-term needs. Leaders must listen to the voices of African farmers and governments to understand their priorities and respond with urgency.”

The foundation’s commitment will fund immediate action and long-term initiatives over four years to help smallholder farmers in sub-Saharan Africa and South Asia build resilience and food security. Funding will focus on spurring African-led innovation to build a pipeline of climate-smart agriculture projects, new applications of digital technologies, climate-smart innovations for smallholder livestock farming, and support for women smallholder farmers to capitalise on their untapped potential.

“Women in rural Africa are the backbone of their food systems, but they have never had equal access to the resources they need to reach their full potential or build resilience to looming climate threats,” said Melinda French Gates, co-chair of the Bill & Melinda Gates Foundation. “As the climate crisis accelerates, women’s vital role in their economies is too important to overlook. With the right financing and marketing support, women smallholder farmers could earn more in a day than they currently earn in a month, ultimately transforming these regional food systems and unlocking a healthier, more sustainable, and more prosperous future for families and communities across the continent.”

“The climate crisis is causing enormous harm every day as it jeopardises entire regions of people and economies,” said Bill Gates, co-chair of the Bill & Melinda Gates Foundation. “More funding is necessary to ensure agricultural and technological innovations are widely available to vulnerable communities, helping them to adapt to climate change, save lives and increase economic growth.”

To invest $1.4 billion to help smallholder

Company News, Europe

New Generation T4 F/N/V offers more powerful performance and has been extended with a new 118-hp model at the top of the range

The New Holland T4.120 F was crowned as the ‘Best of Specialised’ tractor at the Tractor of the Year 2023 Awards. The coveted title, assigned by a jury of independent journalists specialising in agricultural mechanisation, recognises the best tractor in the European market.

The engine, advanced hydraulics and specifications packed in a supremely compact tractor with a new, low-height hood make it a true game-changer in the specialty sector.

Carlo Lambro, New Holland Brand President “This prestigious award recognises once again New Holland’s supremacy as the undisputed leader in the specialty tractor segment. We have remained at the forefront of this sector for seven decades by constantly innovating, upgrading and extending our uniquely wide offering to meet the most specialised requirements of our customers. This latest “Best of Specialised” title is testament to the many years of work and dedication in this important segment, particularly in Europe. I would like to congratulate and thank all the teams involved in the development of this tractor, especially at the Jesi plant and Engineering in Modena, Italy.”   

New Generation T4 F/N/V offers more powerful

Agrotech, Company News, Europe, Start ups

Targenomix to continue its startup approach as a standalone entity wholly-owned by Bayer

Bayer has announced the acquisition of German biotech start-up Targenomix. The spin-off of the Max Planck Institute for Molecular Plant Physiology (MPI MPP) uses novel systems biology and computational life science tools to identify new modes of action for crop protection compounds.

The Targenomix expertise, personnel, and platforms will be an important part of delivering on Bayer’s commitment to the design of safe and effective molecules and will accelerate the discovery and development of molecules with the potential to make agricultural production more sustainable despite dynamic challenges like climate change, and increasing weed, disease and insect resistance.

Targenomix, a spin-off of the Max Planck Institute for Molecular Plant Physiology, will contribute to Bayer’s Crop Science R&D pipeline by continuing to deliver novel systems biology approaches for innovative crop protection discovery. Targenomix will continue its startup approach as a standalone entity wholly-owned by Bayer.

Dr Robert Reiter, Head of R&D at Bayer’s Crop Science Division said, “By using a unique and holistic systems biology approach and leveraging leading expertise building on a strong scientific foundation stemming from the MPI MPP, Targenomix has delivered numerous novel targets and modes of action for small molecules in weed control. Their innovative tools to identify and select safe and sustainable compounds complement our design-based strategy in crop protection discovery and will accelerate the development of new products that farmers need to meet future challenges of agriculture.”

By further integrating Targenomix’ systems biology approach into Bayer’s established R&D pipeline, Bayer is driving the development of innovative new technologies towards safe and effective products that farmers need. “Combining Bayer’s leading capabilities and proven crop protection pipeline with Targenomix’ flexible startup mindset, deep multi-omics technology, and systems biology expertise will allow us jointly to continue to deliver novel modes of action,” said Dr Sebastian Klie, CEO of Targenomix.

Targenomix to continue its startup approach

Agro Universities, India, Pulses

16 beneficiaries awarded an ‘Authorised User Certificate’ of GI-tagged Gulbarga Tur Dal 

At a recent training programme hosted by the University of Agricultural Sciences (UAS), Raichur and ICRISAT, 16 beneficiaries were awarded an ‘Authorised User Certificate’ of GI-tagged Gulbarga Tur Dal as granted by the Geographical Indications Registry, Government of India.

The programme enlightened the authorised users on ways to discover and flag counterfeit tur dal being sold as GI-tagged Gulbarga Tur Dal in the market. The importance of using the GI logo as an identification mark on the packaging for originality and quality assurance was explained to the authorised users.

“The GI protection offers benefits to both consumers and producers, leading to the overall economic prosperity of rural communities. An exclusive logo distinguishes the original from the counterfeit products, thus guaranteeing quality to the consumer,” said Dr Surya Mani Tripathi, Head, Legal Services, ICRISAT, who was instrumental in facilitating the GI tag for the Gulbarga Tur Dal.

The program was attended by farmers and millers, members from the Pulse Board, UAS Raichur and the IPFC team at Agribusiness and Innovation Platform (AIP)-ICRISAT. Throughout the discussion, it was emphasised that post GI registration, the focus should be on quality control and implementation of business frameworks to maximise the commercial value of GI-tagged Gulbarga Tur Dal.

16 beneficiaries awarded an 'Authorised User Certificate'

Acquaculture, Environment, IT, R&D, Sustainability

CAIS will act as a knowledge platform and a way forward for sustainable coastal agriculture benefiting farmers, scientists and policy makers

The ICAR-Central Coastal Agricultural Research Institute (CCARI) has launched a Coastal Agricultural Information System (CAIS) developed by ICAR-CCARI. CAIS launched for the benefit of farmers, scientists and policymakers, during the ongoing 5-day international training program on “Diversification of Coastal Agroecosystems for Climate Resilience and Livelihood Security”.

The programme was organised by ICAR-CCARI in collaboration with the Centre for International Forestry Research (CIFOR) and World Agroforestry (ICRAF). The inaugural function was attended by eight foreign and six national participants from India, Bangladesh, Sri Lanka, Indonesia, Maldives and Vietnam.

ICAR Director General (natural resource management) Suresh Kumar Chaudhari stressed on the importance of diversification, climate resilience and livelihood in coastal regions as different components of the training programme.

He also said CAIS will act as a knowledge platform and a way forward for sustainable coastal agriculture benefiting farmers, scientists and policy makers. CIFOR-ICRAF Country Director, Chandrashekhar Biradar stressed that “climate change is a fact and rising sea level, and land degradation, especially in coastal regions which are adversely impacting agriculture.” Highlighting the importance of the training program, CIFOR-ICRAF Asia Director Javed Rizvi urged the participating countries to identify opportunities for mutual collaboration.

CAIS will act as a knowledge

Company News, India

Platforms 14, 15, and 16 have majority of trains departing for Bihar and Uttar Pradesh where bulk of target audience resides

BL Agro, India’s leading FMCG Company, breaks new ground and becomes the very first company to be granted naming rights of New Delhi Railway Station platforms 14, 15 and 16.

This is the first time that such a tie-up with private players has been made possible, and the honour has been awarded to reputed businesses or government organisations.

With this pioneering agreement, Platforms 14 and 15 will be branded as ‘Nourish Platform 14 and 15’ and Platform 16, the one on the Ajmeri Gate side of the station, will be branded as ‘Bail Kolhu Platform Number 16’. The new stylisation ‘Nourish Platform 14 and 15’ and ‘Bail Kolhu Platform 16’ at New Delhi Platform will be seen at all the places in the platform area and wherever else the name is displayed.

Ghanshyam Khandelwal, Chairman, BL Agrosaid, “It is an appreciable initiative taken by Indian Railways, and I congratulate the ministry for such progressive vision. It indeed is a landmark moment for us and we’re ecstatic to be spearheading it for New Delhi Railway Station.”

Ashish Khandelwal, Managing Director, BL Agro said, “We chose Platforms 14, 15, and 16 because the majority of the trains that depart from there are for Bihar and Uttar Pradesh, the two states where the bulk of our target audience resides. It’s a meeting of minds. On average, each platform handles 13 to 23 trains per day, and the number of passengers the entire station gets is over 2 lakhs. Come the festive seasons, the footfall reaches 6 lakhs daily. It opens for us an unusual window to reach deeper into our target market in an unexplored way.”

Platforms 14, 15, and 16 have

Animal Health, Company News, Environment, Live Stock, Poultry, Thailand

All purchased maize is grown on land with legal land deeds, in support of the UN’s Sustainable Development Goals and CP Foods policies to help farmers to protect biodiversity

Thailand-based company Charoen Pokphand Foods PLC (CP Foods) has confirmed that the maize supply chain has met the 100 per cent zero-deforestation target, thanks to continual efforts in achieving sustainable and responsible sourcing and full traceability.

All purchased maize is grown on land with legal land deeds, in support of the United Nations Sustainable Development Goals and CP Foods policies to help farmers sustainably cope with climate impacts and protect biodiversity.

Woraphot Suratwisit, vice president of Bangkok Produce PLC (BKP), the supplier of agricultural raw materials for CP Foods feed mill, said that his company has strictly followed the responsible and sustainable sourcing policy. All materials must be cultivated on the land with legal deeds and not involving forest encroachment or deforestation. In this regard, based on the traceability system, maize is being supplied by sustainably-maintained plantation fields. Thanks to Blockchain technology, the supply data has been linked with feed mill’s production line, to raise the level of trust and transparency among consumers with the assurance that the purchased maize is not involved with any type of deforestation.

All enlisted in CP Foods maize supply chain, farmers or local purchasers, are required to register. Aside from registration, to identify their plantation fields, farmers must produce their farmer registration books that contain the information from the Ministry of Agriculture and Agricultural Cooperatives. For every purchase, the involved farmer or middle-man is required to add the transaction into the supply data system, so that the system can record the flow of corn and its volume.

CP Foods’ sustainable sourcing policy for 100 per cent zero-deforestation maize goes hand in hand with CP Foods anti-deforestation policy which is an integral part of the company’s net zero greenhouse gas emissions target and supports the Sustainable Development Goals 2, 13 and 15.

All purchased maize is grown on land

Agro chems – Chemicals, Company News, Finance, Seeds

Profit Before Tax stood at Rs 2,290 million, compared to Rs 2,195 million in the corresponding period of the previous financial year

 Bayer CropScience Limited announced its unaudited results for the quarter (Q2) and half year ended (H1) September 30, 2022. For Q2 ended September 30, 2022, Bayer CropScience Limited (BCSL) registered Revenue from Operations of Rs14,519 million as compared to Rs 13,651 million in the corresponding period of FY 2021-22. Profit Before Tax stood at Rs 2,290 million, compared to Rs 2,195 million in the corresponding period of the previous financial year.

For the H1 ended September 30, 2022, BCSL reported Revenue from Operations of Rs 31,193 million compared to Rs 27,810 million for the corresponding period in FY 2021-22. Profit Before Tax for the H1 ended September 30, 2022 stood at Rs 6,113 million, compared to Rs 5,395 million for the corresponding period in FY 2021-22.

BCSL concluded the sale of a part of its seed distribution portfolio comprising of mustard, millet, cotton and sorghum seeds in Q3 of FY 2021-22. Considering this, the portfolio adjusted Revenue from Operations grew by 8 per cent for Q2 and 14 per cent for H1 FY 2022-23 while Profit Before Tax increased by 14 per cent for Q2 and 22 per cent for H1 FY 2022-23, respectively.

Commenting on the quarterly and half-yearly results, Simon-Thorsten Wiebusch, Executive Director BCSL said, “Our continuing revenue growth in Q2 was driven largely by strong demand and product liquidation of our crop protection portfolio despite continuing supply chain challenges and a tough hybrid rice season. Supportive commodity prices led to better acreages and strong sales of Corn seeds. A near-normal monsoon in most parts of the country except for the states of Uttar Pradesh, Bihar and West Bengal also aided positive demand momentum. Our efforts of reaching larger segments of smallholder farmers through alternate go-to-market initiatives such as Sahbhaagi and Better Life Farming Centers are also steadily gaining ground.”

Simon Britsch, Chief Financial Officer, BCSL said, “We have maintained our growth momentum in H1. We continue to invest in our business growth opportunities and focus on sustaining margins despite continuing challenges associated with global supplies and rising costs”.

Profit Before Tax stood at Rs 2,290

Agro Universities, Agrotech, India, R&D

ICRISAT scientists evaluated improved management practices such as biochar, need-based fertiliser and irrigation for their potential to sequester carbon

Results of a modelling study by ICRISAT from 2020 to 2022 reveal that the right combination of fertiliser, biochar and irrigation can potentially increase soil carbon by as much as 300 per cent over 30 years in 13 districts of Odisha and Maharashtra, contributing to global efforts to combat climate change.

The modelling study found that biochar increased carbon value in the soil by 130-300 per cent over 30 years with little difference in yield. Whereas, optimal fertilisers increased the carbon as well as yield by up to 30 per cent. The carbon sequestration increased by more than 300 per cent in combination with fertiliser, biochar, and irrigation.

As part of the project, ICRISAT scientists evaluated improved management practices such as biochar, need-based fertiliser and irrigation and assessed agricultural management practices for their potential to sequester carbon. Important crops such as cotton, sorghum, soybean, chickpea, pigeonpea and millet were studied in the region. In addition, soil sampling and the analysis of long-term experiments on improved vs traditional farmer practices and tillage and residue management practices were also conducted.

The modelling study was conducted in five districts of Maharashtra (Jalna, Dhule, Ahmednagar, Amravati and Yavatmal) and eight districts of Odisha (Angul, Bolangir, Deogarh, Dhenkenal, Kalahandi, Kendujhar, Nuapada and Sundergarh). These districts have a predominantly semi-arid climate with annual rainfall between 600 mm and 1,100 mm.

Data such as crop yield, weather, soil types and crop management practices were collected from different sources. ​ ICRISAT scientists made projections for carbon sequestration and yields for both States and conducted long-term experiments.

ICRISAT scientists evaluated improved management practices such