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AgroPolicy, India, Textile industry

Strategic projects cleared for the development of Indian economy

Ministry of Textiles clears 20 strategic research projects worth Rs 74 crore in the areas of Agrotextiles, Speciality fiber, Smart textiles, Activewear textiles, Strategic application areas Protective gear and apparel Sports textiles under the chairmanship of Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles. These strategic research projects fall under the Flagship Programme ‘National Technical Textiles Mission.’

Among these 20 Research projects, 5 Projects of Speciality Fibres, 6 Projects of Agro-textiles, 2 Projects from Smart Textiles, 2 from protective gear and apparel, 2 from geotextiles, 1 from activewear apparels, 1 from strategic application area, 1 from sports textiles were cleared.

Leading Indian Institutes cleared strategic projects for the development of Indian economy and a step in the direction of Atmanirbhar Bharat, especially in the field of Geotech, Industrial and Protective, Agriculture and Infrastructure.

“Industry and Academia linkages are essential for the growth of research and development in the application areas of Technical Textiles in India. Building convergence with Academicians, Scientists and Researchers is the need of the hour.” Said Piyush Goyal. 

To bolster the innovation and research ecosystem in technical textiles, NTTM will support ideation and prototyping R&D projects worth upto Rs 50 lakhs and 100 lakhs respectively, which have clear potential to translate into commercial products and technologies.

Strategic projects cleared for the development of

Agro chems – Fertilizers, India, Schemes - Govt

Subsidy approved will be Rs 51,875 Cr

The Union Cabinet, chaired by the Prime Minister Narendra Modi, has approved the proposal of the Department of Fertilisers for per Kilogram rates of Nutrient Based Subsidy (NBS) for various Nutrients that is Nitrogen (N), Phosphorus (P), Potash (K) and Sulphur (S) for Phosphatic and Potassic (P&K) fertilisers for Rabi Season – 2022-23.

Subsidy approved by Cabinet for the NBS Rabi-2022 (from 01.10.2022 to 31.03.2023) will be Rs 51,875 crore including support for indigenous fertiliser (SSP) through freight subsidy. 

This will enable smooth availability of all P&K fertilisers to the farmers during Rabi 2022-23 at the subsidised / affordable prices of fertilisers and support the agriculture sector. 

The variation of trading prices in the international market of fertilisers and raw materials has been primarily absorbed by the Union Government.

Subsidy approved will be Rs 51,875 CrThe

Agro chems – Chemicals, Company News, Finance, India

Profit After Tax at Rs 44.83 Crore in Q2 FY23 and Rs 83.14 Crore for H1 FY23

New Delhi-based Insecticides (India) Ltd. (IIL), one of the country’s leading manufacturers of crop protection and nutrition products announced its unaudited results for Q2 and H1 ended on 30th September, 2022. IIL boasts of an impressive product portfolio consisting of 21+ technical products and 105+ formulation products.

Performance Highlights:

Revenue from Operations reported at Rs 582.49 Cr. in Q2 FY23 and Rs 1143.37 Crore for H1 FY23

EBITDA stands at Rs 68.45 Crore in Q2 FY23 and Rs 126.90 Crore for H1 FY23

PAT at Rs 44.83 Crore in Q2 FY23 and Rs 83.14 Crore for H1 FY23

Commenting on the performance, Rajesh Agarwal, Managing Director (IIL) said, “We are very happy to share that we had a good quarter and half year in terms of financial performance and a successful quarter and half year in terms of market acceptance of our newly launched products. We have been able to deliver solid results, with revenue from operations having grown by 31 per cent from Rs 44.36 Crore in Q2 FY22 to Rs 58.24 Crore in Q2 FY23.

The EBITDA increased by 6.68 per cent from Rs 64.16 Cr in Q2 FY22 to Rs 68.45 Cr. in Q2 FY23. EBITDA margins declined from 14.45 per cent in Q2 FY22 to 11.76 per cent in Q2 FY23 on a YoY basis due to increase in cost of raw materials and currency headwinds which led to a forex loss. However, on QoQ basis the margins improved by 133 bps primarily led by better product mix and calibrated price hikes majorly offsetting elevated input cost and currency headwinds. While PAT increased by 7 per cent from Rs 41.87 Crore in Q2 FY22 to Rs 44.83 Crore in Q2 FY23.

Talking about the growing acceptance of their products, R&D initiatives, and export performances, Rajesh Agrawal, Managing Director, “We have received a good response to our newly launched products like Hachiman, Shinwa, Torry and Izuki. Our R&D initiatives are being recognized as successful innovations in the form of several patents being granted in H1 FY23, taking our total patented products to 18. On the exports front, we continue to witness good demand, however we have focused on exports in a calibrated manner.

“At IIL, we’re committed to launching new products to keep pace with the changing trends and requirements of crop protection and nutrition market.,” Agarwal further added.

Profit After Tax at Rs 44.83 Crore

Agrotech, India, R&D

This platform functions efficiently at temperatures as low as 4°C.

The CRISPR gene-editing technology has scaled to a new height in India. Indian scientists have demonstrated for the first time that the associated Cas9 enzyme, which acts as molecular scissors to cut DNA at a location specified by a guide RNA, can bind to and cut the target DNA at very low temperatures.

This work has shown the highly efficient functioning of this platform at temperatures as low as 4°C. making it possible to edit genes in temperature sensitive organisms, plants, or crop varieties.

Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) are short DNA sequences found in the genome of prokaryotic organisms such as bacteria, which are reminders of previous bacteriophage (viruses) attacks that the bacteria successfully defended against. Cas9 enzyme (part of bacteria’s defence mechanism) uses these flags to precisely target and cut any foreign DNA, thus protecting the bacteria from future attacks by similar bacteriophages. The unprecedented precision of targeting the DNA sequences and then efficiently cutting them is the basis for CRISPR-Cas9 technology, which has been recently demonstrated in editing genes in cells and organisms.

CRISPR-Cas9 technology has been successfully used for many purposes, including basic studies of gene function, agriculture, and medicine to increase our knowledge of disease processes and their potential future therapies. So far, most binding trials were typically performed at 37 °C.

As a further step to advance this platform into the forefront of biomedical and analytical biotechnology, scientists of Raman Research Institute (RRI), an autonomous institute of the Department of Science and Technology (DST), have explored temperature-dependent binding and release of cleaved products by the Cas9 enzyme. Serene Rose David, Sumanth Kumar Maheshwaram, Divya Shet & Mahesh B. Lakshminarayana, under the guidance of Dr Gautam V Soni, have demonstrated that the Cas9 enzymes strongly bind to the target at very low temperatures and remains bound to the cleaved DNA products even after the enzyme has done its job.

Subsequently, the bound products were released in a controlled fashion using high temperature or chemical denaturant (that make proteins and DNA lose their 3-dimensional structure and become non-functional). The research published in the Scientific Reports journal of the Nature Portfolio expands possible application of the Cas9-based genetic toolbox to a previously unexplored temperature range that would be compatible with long-term storage of biological samples.

This platform functions efficiently at temperatures as

Agro Universities, Start ups

Start-ups selected for incubation will be evaluated as per the scheme criteria to receive funding of up to Rs 50 lakh.

Hyderabad based Agribusiness Incubator (ABI) of the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) has launched a second call for applications from eligible ag-tech start-ups under the National Initiative for Developing and Harnessing Innovations-Seed Support Program (NIDHI-SSP).

ABI-ICRISAT will offer incubation services for business development and scaling up activities, access to mentor and investor networks and ecosystem service partner packages. Start-ups selected for incubation will be evaluated as per the scheme criteria to receive funding of up to Rs 50 lakh.

This program is supported by the National Science & Technology Entrepreneurship Development Board (NSTEDB) and the Department of Science and Technology (DST), Government of India. Indian start-ups working on innovative technologies or business models in the agri-food and allied sectors are encouraged to apply. It is an ideal opportunity for start-ups to raise funds without any equity dilution. ​ ABI-ICRISAT will provide debt-based funding at the prevailing repo rate.

Start-ups selected for incubation will be evaluated

Agrotech, India, IT, Start ups

MCCIA will help curate the list of potential investee start-ups and intend to make the first investment before the end of December 2022.

Pune based Mahratta Chamber of Commerce Industries and Agriculture (MCCIA) has launched an initiative to support Agri-tech start-ups which provide technology-based solutions to various agriculture-related problems. The chief guest for the event was the prominent Indian Cricket Player, Ajinkya Rahane, who has a keen interest in the agriculture sector and start-ups. He would be playing a key role in this initiative. Ajinkya Rahane and associates will make seed investments in some of the Agri-tech start-ups. Towards this, they will begin with a fund of Rs 1 crore. They hope to inspire more such investors to come forward and grow the size of the fund over the next few months and years and further enhance the impact.

(MCCIA) will help curate the list of potential investee start-ups. They intend to make the first investment before the end of December 2022 and three of them before the end of this financial year. As a part of its mission to support and strengthen the agriculture sector in Maharashtra, the (MCCIA), Pune has been actively working with start-ups and small-scale entrepreneurs in the sector to help them grow.

 Fifty-one Agri-Tech Startups participated in this initiative. The attendees also included founders of other (non-Agri-tech) start-ups, corporate professionals, business owners and MCCIA office bearers.

MCCIA will help curate the list of

Agrotech, India, Start ups

At the CII Agro Tech India 2022, WRMS displayed a variety of IoTs like AWS, APS, AIS and educated attendees about the SecuFarm App and SecuTrak solution.

Chandigarh based Weather Risk Management Services (WRMS), an agriculture and dairy risk management company, recently participated at the CII Agro Tech India 2022, the premier Agri and Food Technology Fair held at Chandigarh. At the CII Agro Tech India 2022, WRMS displayed a variety of IoTs like AWS, APS, AIS and educated attendees about the SecuFarm App and SecuTrak solution. The expo was focused on strengthening the Indian agriculture and food processing sectors through technology interventions, discussions, and nurturing partnerships.

“We are delighted to take part in CII Agro Tech India 2022. It was a fantastic opportunity to interact directly with potential clients, discover new markets, build business connections, and gain honest feedback on the products the company offers. Our booth witnessed a good footfall of attendees that included Farmers, FPOs, MFIs, seed companies, contract farming companies, and other sustainable farming companies. We received a lot of inquiries about and positive feedback about our Automatic irrigation, SecuTrak and smart farming solutions that use AI and IoT technology to help farmers overcome their most difficult obstacles, increase production, practise sustainable farming, and ensure revenue” said Anuj Kumbhat, CEO and Co-Founder, WRMS.

“We also displayed IoTs like AWS, APS, AIS which were extremely popular among farmers and FPOs visitors. FPOs connected with us to understand our SecuFarm product and showed keenness to pilot with us” he further added.

The SecuFarm app from WRMS is a ground-breaking agri-tech solution that gives farmers farm-level production assurance by downscaling their risk using data and technology. With the most up-to-date digital technology, it reaches farmers all over India and supports them to ensure they achieve a better yield by adhering to the package of practices supplied with them in their native dialect.

At the CII Agro Tech India 2022,

Country, India, Sugar industry, World

As of October 31, 2022, more than 96 per cent of cane dues of farmers for SS 2021-22 have already been cleared despite record procurement of sugarcane of more than Rs 1.18 lakh crore

The government of India has allowed the export of sugar up to 60 Lakh Metric Tonne (LMT) during the sugar season (SS) 2022-23. The Director General of Food Trade (DGFT) has already been notified to extend the inclusion of sugar exports under the ‘Restricted’ category up to October 31, 2023.

The Central Government has prioritised the availability of about 275 (LMT) of sugar for domestic consumption, about 50 LMT of sugar for diversion to ethanol production and has a closing balance of about 60 LMT as of 30.09.2023. A balanced quantity of sugar produced by sugar mills in the country would be allowed for exports. Since at the beginning of sugar season 2022-23, initial estimates of sugarcane production are available, it has been decided to allow the export of 60 LMT sugar. The sugarcane production in the country will be reviewed periodically and based on the latest available estimates, the quantity of sugar exports to be allowed could be reconsidered.

During SS 2021-22, India exported 110 LMT of sugar and became the second largest exporter of sugar in the world and earned about Rs 40,000 crore worth of foreign exchange for the country. Timely payment and low carrying cost of stocks for sugar mills also resulted in early clearance of cane arrears of farmers. As of October 31, 2022, more than 96 per cent of cane dues of farmers for SS 2021-22 were already cleared despite record procurement of sugarcane of more than 1.18 lakh crore rupees.

In the sugar export policy for SS 2022-23, Government has announced a sugar mill-wise export quota for all sugar mills in the country with an objective system based on the average production of sugar mills in the last three years and the average sugar production of the country in last 3 years. Further, to expedite the sugar exports and to ensure flexibility to sugar mills in the execution of the export quota, mills may decide to surrender the quota partially or fully within 60 days of the date of issue of the order or they can swap the export quota with domestic quota within 60 days.

At the end of Sugar Season 2022-23, it is expected that most sugar mills will be able to sell their products either in the domestic market or in the international market through exports and will clear the cane dues of farmers in time. Thus, the policy has created a WIN-WIN situation for sugar mills in the country.

As of October 31, 2022, more than

Dairy, India

The industry is projected to maintain a stable credit profile, supported by a favorable demand outlook and moderate debt levels

According to the report published by Investment Information and Credit Rating Agency of India Limited (ICRA), Indian dairy companies are estimated to attain a revenue growth of 12-14 per cent in FY23 on a year-on-year basis. The revenue growth will be led by the rejuvenation of the Hotel- Restaurants and Catering (HoReCa) segment and an increase in milk retail prices.

Despite showing progress in its revenues, the dairy sector of the country may suffer due to the expected shrinking of its operating profit margins by 120-160 bps on a year-on-year basis. This is mainly due to the rise in input cost pressure that will overpower the benefit of rising retail prices, said report.

The report also stated that the earnings from Value-Added Products (VADPs) will experience a healthy YoY growth of 18-20 per cent in FY22. Scorching summer, relatively high temperatures, and the waning impact of pandemic spurted the growth.

According to ICRA report, the liquid milk segment will also grow in the current year. However, the industry may face the challenge of rising input costs. Revenues in the liquid milk segment are predicted to grow by 7-9 per cent in FY22.

After analysing all the aspects behind the growth of the dairy industry, ICRA has estimated a stable credit profile for the industry. The credit profile will be supported by a favourable demand outlook and moderate debt levels.

 Impact of Lumpy Skin disease

Highly prevalent Lumpy Skin in cattle class animals is another factor that impacted the milk production in the current financial year. The disease was prevalent among cows in northern states.The impact of the disease was brought down with the help of a successful immunisation programme. Even though ICRA expects a slight impact in milk production growth to 4-5 per cent in FY23.

The industry is projected to maintain a

AgroPolicy, India, Interaction

In an interaction with AgroSpectrum India, Vijay Sardana, a renowned techno-legal advisor on agribusinesses, explains the key dimensions of agriculture along with the action points that such committees should undertake. Edited excerpts.

Post the repeal of the farm laws last year, the centre was tasked with the forming of a committee to give suggestions on making minimum support price (MSP) more effective, giving more autonomy to the Commission for Agricultural Costs and Prices (CACP) and to suggest measures to strengthen the agricultural marketing system. The committee had its first meeting in August and created sub-groups to examine the important issues hindering the business of agriculture. In an interaction with AgroSpectrum India, Vijay Sardana, a renowned techno-legal advisor on agribusinesses, explains the key dimensions of agriculture along with the action points that such committees should undertake. Edited excerpts.

Can you brief us about how MSP works and the role played by the government for its effective functioning?

There are a lot of issues surrounding agriculture, one of them being the remunerative prices given to farmers.  Here we have to consider the fact that price is a factor of market forces and the government itself cannot play around with the same beyond a certain bandwidth. One classical yet reverse example to explain the case in point is the recent losses being incurred by petroleum companies in the event of the government trying to control it. The Public Sector Units (PSUs), however, are not impacted by such a move as the losses are later absorbed by the government through sacrificed losses or recapitalisation. But the private players have to bear the brunt in such a case, thus being a testament to this theory that remains true in the business of agriculture as well.

What are the possible ways of fixing the demand-supply imbalance to improve the business aspect of agriculture? Can you also shed light on the implications in the event of not doing so?

Creating a demand for the crop is important to avoid crashing of prices due to a demand-supply imbalance.  This is being done by the government through the Public Distribution System (PDS) or Food Security Mission, which is already a saturated mechanism. The second way is through creation of export opportunities and to provide an outlet for the surplus when the international prices are high. The government pursued the latter this year which ultimately led to the crop prices being higher than MSP. The major problem arises in a reverse case when international prices are low and there is more production in the country. In such a case, the government cannot buy all the crops at MSP because it lacks the financial resources to do so. And even if the centre is willing to somehow deploy resources, the same cannot be implemented keeping in mind the rules of the World Trade Organisation (WTO). In the event of not following the regulations, the country can be subjected to reverse pressures and penalties on other exports like marine and software to name a few.  Therefore, when demanding a certain MSP, the farmers should consider all the legalities involved as it’s not a matter of requesting charity from the government but a simple play of demand and supply and the resultant global implications.

How can crop diversification be encouraged for better agribusinesses?

We can consider the classical example of wheat which is one of the controversial crops and has a surplus production in Punjab, Haryana, Western Uttar Pradesh and some parts in Rajasthan and Madhya Pradesh. The farmers have been growing this in excess for the last 30 years knowing its low profitability in markets. This is because the commission agents are paid around 4-8 per cent interest by the Food Corporation of India (FCI) for procuring wheat and paddy. The farmers can instead grow mustard which is in short supply and can be cultivated under similar climatic conditions as wheat. Its production is far from profitable and hassle-free in terms of less use of water and fertilisers. But crop diversification is completely being overlooked when it is one of the biggest remedies to solve the business woes of agriculture.

To resolve this, the foremost thing is to impart education to farmers to strengthen their business and economies of scale of the country as a whole. Secondly, better coordination between the farmers and the industry is required at large to which no state government is paying any heed. In this respect, the three farm laws were very important for bringing together the farmers and traders to eliminate the role of middlemen and foster better business growth in the long run. Thus, there is a crisis due to complete lack of education and communication wherein farmers need to be particularly taught about the economies of agriculture and not only about the economies of production. These two factors work in tandem with each other and cannot be left in silos.

To read more click on: https://agrospectrumindia.com/e-magazine

In an interaction with AgroSpectrum India, Vijay

AgroPolicy, India, Industry Reports / Analysis

Contractual agreements between the farmers and agribusiness companies have gained immense momentum in many developing countries including India.The primary purpose was to legitimate contract farming in India which has been largely based on the provisions of Indian Contract Act 1872. AgroSpectrum India digs deeper into the contract farming landscape to uncover the complexities and benefits.

Contract farming is not a new practice in India and has been in place since the early 1900s or earlier. During the colonial period, cash crops such as tea, coffee, rubber, poppy, and indigo were grown in various parts of the country, mostly through central, expatriate-owned estates surrounded by small outgrowers. Most such arrangements exploited small peasantry and resulted in indenture and alienation in some instances. The ITC introduced cultivation of Virginia tobacco in coastal Andhra Pradesh in the 1920s incorporating most elements of a fair contract farming system and met with a good farmer response. This was replaced by auctions in 1984.

The British East India Company used the contract farming model for the procurement of crops like jute and tobacco for export to the West, and post-Independence some crops were still grown and procured by both processors and mills under this mechanism.

The first and most significant push for contract farming in independent India, despite varying opinions among many, came in the late 1980s when PepsiCo was permitted to use the contract farming model for growing and procuring a special variety of potatoes for their famous “Lay’s” brand. Since then, there has been no looking back. Contract farming as a model has been used by several businesses to benefit both the corporates and the farmers.

Currently, several businesses are using the contract farming model in India. While PepsiCo uses it for procuring potato in Punjab, Adani Wilmar uses it to avail groundnut and oil palms in Gujarat. There are also several brands of tobacco using the model for getting their business needs met. Contract farming is in use in the procurement of basmati rice, chili, and some horticulture products as well.

Two sides of the coin

According to Vijayaragavan, Consultant, National Association for Farmer Producer Organisations (NAFPO), while there have been several arguments against the contract farming model, the mechanism arms the farmer with a significant advantage and improved risk management. “It needs no new research to show that even in a good crop year, prices of farm produce are highly volatile and can mean losses or lower than expected prices/income for the farmer. There are numerous examples where the farmer makes a loss when a crop is damaged or when the yield and quality of produce are not good. Contract farming helps farmers get a fair, fixed return on their produce irrespective of market volatility. The practice has helped farmers scale up and follow modern farming and best practices adopted from around the world,” Vijayaragavan explained.

To read more click on: https://agrospectrumindia.com/e-magazine

E-Magazine

Contractual agreements between the farmers and agribusiness

India, Industry Reports / Analysis, Live Stock

Improved production efficiency, commercial culture development, increased revenue and employment are all possible through contract farming as it provides credit, technology, inputs, information, extension services, and risk mitigation to farmers. In addition, the provision of an assured market through contract farming is seen as an extremely useful benefit. Let us now examine the impact of contract farming on the livestock sector.

In the 1960s, contract farming emerged in India’s seed production sector throughout states; by the 1990s, it had spread to other farm goods in places like Punjab and Haryana, where companies like Pepsi Foods were cultivating tomatoes, chilies, and potatoes under contract. Currently, private domestic and international enterprises for internal processing or export mostly dominate contract farming in India. The practice is ubiquitous across crops and livestock, states, and agencies (public, private, and multinational). The government of Arunachal Pradesh has recently extended an invitation to large corporations like Reliance, Adani, and Patanjali to begin contract farming and a buy-back policy in the state.

The farmers in our country have to contend with a number of issues, including the use of antiquated equipment and management techniques, weak negotiating positions with input suppliers and produce markets, a lack of infrastructure and market information, a dearth of management expertise, a subpar packaging of goods, and a shortage of funds to raise high-quality livestock.

Contract farming can be viewed as a way to entice the private sector to deploy some of its considerable resources to solve these issues. Improved production efficiency, commercial culture development, increased revenue and employment are all possible through contract farming  as it provides credit, technology, inputs, information, extension services, and risk mitigation to farmers. In addition, the provision of an assured market through contract farming is seen as an extremely useful benefit.

Uplifts small farmers

Small farmers who are highly vulnerable to risk can especially gain from contract farming since it allows them to buy milking animals, boost output, and ride the wave of market-driven expansion. Farmers’ revenues will increase to their full potential, and their exposure to production-related risks, transfer price risks, and output hazards will be minimised with the use of contracts.

Elaborating further on this concept of contract farming, Narendra Pasuparthy, Chief Farmer, CEO & Founder, Nandu’s said, “Although contract farming in India has been prevalent for several decades, a legal framework on farming agreements came into force only in 2020. In the livestock sector, this has paved the way for greater investments, creation of new markets, and better financial security for the farmers. At Nandu’s, we envisage a promising future for this collaborative approach. Since our inception in 2016, Nandu’s has been making conscious efforts to build a steady source of livelihood for the farmer community. Currently, we have 300 farmers who work exclusively with Nandu’s. Integration farming contracts ensure that our farmers are exposed to zero risk – despite the unpredictable market conditions and other factors affecting production efficiency.”

To read more click on: https://agrospectrumindia.com/e-magazine

Improved production efficiency, commercial culture development, increased

AgroPolicy, Foodgrains, India, Industry Reports / Analysis, Trade

As a temporary measure, in September, 2022, India banned export of broken rice and imposed a 20 per cent export duty on non-Basmati rice except for parboiled rice to boost domestic supplies amid a fall in area under paddy crop in the current kharif season. AgroSpectrum spoke to the industry leaders on pros and cons of this action, which the government has undertaken for food security concerns of the country keeping in line with the achievement of SDGs (Goal 2: Zero hunger).

The area under the paddy crop has been dropping steadily over the last few years due to factors such as loss of soil fertility and water scarcity. To counter the decrease in output, because of this during the current kharif season and ensure sufficient domestic supplies, India has banned the export of broken rice and imposed a 20 per cent duty on the export of non-Basmati rice, other than parboiled rice. There are four main types of rice that are sold internationally. Free and unrestricted export of Basmati rice and parboiled non-Basmati rice continues to this day. These restrictions only apply to uncooked (white) and broken varieties of rice that aren’t Basmati.

From what we can gather from official sources, the recent changes in India’s rice-export rules has helped to keep domestic prices stable without impacting the country’s ability to ship the commodity overseas. The alterations were made to assist the animal husbandry and poultry sectors by lowering the cost of animal feed, which has an impact on the price of milk, meat, and eggs.

This is also an effort to support the ethanol-blending programme, which helps to cut down on expensive oil imports. However, it is still a big question whether this move is going to achieve the desired impact. India is a major exporter of rice to many countries and it could easily affect its leading position, paving the way for other countries such as the US, Pakistan, and Thailand to grab top spot. Some media reports suggest that the export duty on non-Basmati rice and the ban on broken rice could reduce India’s rice exports by 4.5-5 million tonnes this fiscal year. Another drawback of imposing a 20 per cent duty on export is that Indian rice shipments will become uncompetitive in the world market.

As per the data of Directorate General of Commercial Intelligence & Statistics (DGCIS), India exported rice to over 150 countries across the globe in 2021-22. India exported rice worth more than $1 million to 76 countries out of the 150 countries reported in 2021-22, which indicates the diversification of India’s rice export over the years. India had exported non-Basmati rice worth $2015 million in 2019-20, which rose to $4799 million in 2020-21 and $6115 million in 2021-22. Registering a growth of 27 per cent in 2021-22, export of non-Basmati rice was the top forex earner among all agri-commodities, at $6115 million.

To read more click on: https://agrospectrumindia.com/e-magazine

As a temporary measure, in September, 2022,

Agrotech, Opinions

By Amit Sinha, Co-Founder, Unnati

Agriculture, as we all know, is crucial to our sustenance, as it forms the foundation of our lives. Today, we cannot fathom an existence without agriculture, the primary source of our food, and given the growing population, the food requirements are only increasing further. India, a majorly agrarian economy and an emerging market, is among the top four food-producing countries in the world. However, despite over half of the country’s population being involved in agriculture, the sector was one of the slowest in technology adoption compared to others.

Today, with technology being an integral part of the agri ecosystem and agritech startups bringing innovative solutions, the agriculture sector has registered impressive growth in a short period. But for agri retailers, the scenario isn’t quite the same since they are plagued with challenges, and as is the case with most issues in the modern world, technology can be a game-changer. Here’s how.

The gap in supply chain integration

Agri retailers make up a vital cog in the agricultural ecosystem. They are the primary source of supply for farmers in terms of seeds, nutrients, equipment, and crop protection products, among others, so when retailers face challenges, it impacts the entire ecosystem. Today, there is skyrocketing demand for consistently high-quality food, alongside the growing demand for overall food production.

However, this poses challenges for supply chain integration, creating inefficiencies. Lack of storage space, improper care and negligent post-harvest management are some of the factors coming into play to create discrepancies in supply chain integration. With technologies like AI, ML, IoT, and Data Analytics, we can automate and digitise processes to make them more efficient and bridge the gaps while ensuring quality control.

Increasing competition and gaining a wider reach

In recent years, agri retailers have witnessed cut-throat competition in the market from both online and offline players in the segment. Besides, internet proliferation is at an all-time high, especially in non-metros and rural regions, and farmers are now becoming more tech-savvy with increased awareness. They compare products from multiple retailers before purchasing. This means that agri-retailers will have to innovate, increase their reach, and gain more knowledge about complex products to stay ahead and thrive in the competitive market.

To help increase their reach and network and solve these challenges at the grassroots level, agri-tech startups are offering innovative, tech-powered solutions. For instance, right from helping retailers take their business online to expanding their network of customers, farmers, and wholesale markets, data-driven analysis and AI-powered tools used by agri-tech startups are offering strong market linkages to agri retailers.

To read more click on: https://agrospectrumindia.com/e-magazine

E-Magazine

By Amit Sinha, Co-Founder, UnnatiAgriculture, as we