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Agro chems – Fertilizers, Agro chems – Pesticides, Company News, Finance, India, Inputs

The company has reported total income of Rs 2333.38 crores during the period ended June 30, 2023, as compared to Rs 3042.28 crores during the period ended June 30, 2022.

Deepak Fertilizers and Petrochemicals Corporation Limited has reported Consolidated financial results for the period ended June 30, 2023.The company has reported total income of Rs. 2333.38 crores during the period ended June 30, 2023 as compared to Rs. 2810.73 crores during the period ended March 31, 2023.

The company has posted net profit / (loss) of Rs 110.03 crores for the period ended June 30, 2023 as against net profit / (loss) of Rs. 254.88 crores for the period ended March 31, 2023.

The company has reported EPS of Rs 8.72 for the period ended June 30, 2023 as compared to Rs 20.19 for the period ended March 31, 2023.

The company has reported total income of Rs. 2333.38 crores during the period ended June 30, 2023 as compared to Rs.3042.28 crores during the period ended June 30, 2022.

The company has posted net profit / (loss) of Rs.110.03 crores for the period ended June 30, 2023, as against net profit / (loss) of Rs 433.89 crores for the period ended June 30, 2022.

The company has reported total income of

Agrotech, Company News, Horticulture, India, Inputs, Vegetables, Water

Drip irrigation system by the company helped farmers gain 40 per cent more yield and higher profit.

Netafim, an Orbia business and a global leader in precision agriculture solutions, under Better Life Farming, helping Shivpuri farmers grow more tomatoes with less spending on Agri inputs. Under the initiative, farmers are encouraged to adopt drip irrigation technology. The drip irrigation systems are provided through four Better Life Farming (BLF) Centres present in Khajuri, Kolaras, and Pohari region of Shivpuri district. Netafim has implemented drip irrigation system to cover 1,600 hectares of land in Shivpuri District. The farmers across Shivpuri district have witnessed higher crop yield and higher total income. The drip irrigation technology has helped farmers grow ~30 tonnes tomatoes in one acre and get a total income between INR 1.5 lac to 2.5 Lac compared to the previous 20 tonnes and income of 1 Lakh to 1.2 Lakh, in one acre.

Shivpuri District boasts a net cultivable area of 4 lacs hectares out of the total available land of 10 lacs hectares. It is one of the leading tomato crop producers in Madhya Pradesh. Traditionally, the district farmers produce 2.5 lacs metric tons of tomatoes in a total area of 8,145 hectares. Despite being famous for tomatoes, small farmers in Shivpuri often face challenges to cultivate and harvest tomato crops when the prices are optimum. One of the biggest reasons behind this is flood irrigation in tomato farming. This practice leads to an increase in Agri-input consumption, fertilizer wastage, getting a tomato harvest of uniform size, and the growth of weeds. Tomatoes require a high-water supply, especially in the phase immediately after transplant, to reach their full potential in the production process. It is precisely where irrigation technology comes into play, and Netafim, a global BLF Alliance partner, has taken on this task.

To create a conducive farming environment and replicating the successful model of drip irrigation technology for tomato farm fields across Maharashtra, Karnataka, Andhra Pradesh, and Gujarat, Netafim is constantly endeavouring to implement drip irrigation systems across the district. The company offers FlexNet Portable Drip Kit in the Shivpuri district for farmers to benefit from the flexibility and customization for their convenience. The community of farmers is benefiting from cutting-edge micro-irrigation solutions tailored to their farmland. The advanced technology offered by Netafim India has enabled farmers to optimize their farming practices, improve productivity and profitability. Drip Irrigation provides measured doses of water and nutrients at the right time directly to the root level, eventually reducing the input cost by 25 per cent and increasing profitability for farmers.

Speaking about the success, Amit Maheshwari, Head of Business Development, Netafim said, “Access to high-quality Agri inputs, financial and technical assistance are accelerated to tomato growers in Shivpuri through Better Life Farming centres. However, district farmers must focus on the optimum use of Agri inputs and time their tomato harvest. We believe sustainable technologies like adoption of drip irrigation technology will augment tomato farming and make it a lucrative crop. In the coming time, Better Life Farming Centres in conjunction with the expertise of Netafim will serve as catalysts for change in the agricultural landscape and foster a sustainable as well as prosperous farming ecosystem in the district”.

Drip irrigation system by the company helped

Company News, Horticulture, North America

CCA’s strategic priorities include coconut allergen classification, product quality initiatives, sustainability and providing education about coconut and coconut products

The Coconut Coalition of the Americas (CCA), the non-profit trade association serving the coconut industry, announced the addition of four new members to its roster. Exclusive Foods International and Karinor join at the Ruby Level, African Coconut Group joins at the Bronze level and Harmless Harvest as an associate member.

“The coconut industry is critical to the food and supplement markets,” said Len Monheit, CCA Executive Director. “These new members expand our presence globally and in multiple categories, including coconut water.”

CCA’s strategic priorities include coconut allergen classification, product quality initiatives, sustainability and providing education about coconut and coconut products.

CCA's strategic priorities include coconut allergen classification,

Europe, Horticulture, North America, Supply Chain, Trade

The resurgence of international travel has played a significant role in opening up new markets for durian

Agroforestry Group announced a remarkable surge in business across North America, Europe, and Africa. This growth is propelled by the resurgence of international travel, mounting consumer interest, and businesses seeking innovative selling propositions.

Prior to the COVID-19 pandemic, the demand for durian primarily originated from the Asia-Pacific region. Domestically, Malaysia led the way, followed by Singapore, Hong Kong, and China. While these countries remain crucial markets for the company, Agroforestry Group has witnessed a surge of inquiries from new markets, indicating a significant expansion in interest.

Paul Martin, Managing Director of Agroforestry Group, stated, “The surge in enquiries from new markets, particularly North America, Europe and Africa, has been staggering. The unexpected volume of interest from these regions was almost non-existent before the pandemic.”

The resurgence of international travel has played a significant role in opening up new markets for durian. Tourists visiting Asia inevitably encounter durian in various forms, as durian products are widely available throughout the region, both in Malaysia and other countries. Notably, The United Nations World Tourism Agency (UNWTO) reports a remarkable 200 per cent year-on-year surge in international tourism, with travel figures reaching 80 per cent of pre-pandemic levels in Q1 2023.

The post-pandemic shift in consumer and business sentiment in new markets has emerged as a significant driving force. Consumers have become more curious and adventurous, eager to explore diverse products and experiences. In response, businesses are strategically catering to this evolving consumer landscape, offering unique and innovative products. As a result, durian has been gaining traction internationally, with F&B companies introducing it in North America, Europe, and even Africa.

The resurgence of international travel has played

AgroPolicy, India, R&D

The agreement will pave the way for the training and dissertation of the university students, collaborative research projects

ICAR – Central Institute of Post-Harvest Engineering and Technology, Ludhiana, and Dr. Rajendra Prasad Central Agricultural University, Pusa entered into an agreement to collaborate in the area of Academics, Research, and Outreach.

The Memorandum of Understanding was signed by Dr Nachiket Kotwaliwale, Director, ICAR – CIPHET, Ludhiana, and Dr Ambarish Kumar, Dean, College of Agricultural Engineering in a ceremony held at RPCAU, Pusa.

The agreement will pave the way for the training and dissertation of the university students, collaborative research projects, and exchange of experts in various outreach programs conducted by both institutions in areas of food processing and other frontiers of mutual interest.

The function was chaired by Dr PS Pandey, Vice Chancellor, RPCAU, Pusa. All the Deans and Directors of the university along with some senior faculty were also present on this occasion.

The agreement will pave the way for

Acquaculture, Agro Universities, Climate, R&D

The product is a synergistic combination of seaweed-based nutraceuticals, which is a 100 per cent natural blend of highly nutritious bioactive ingredients extracted with eco-friendly ‘green’ technology

The ICAR-Central Marine Fisheries Research Institute, Kochi (ICAR-CMFRI) has developed a nutraceutical product from select seaweeds to boost the innate immunity related to post-COVID complications, named as CadalminTM Immunalgin.

The product was released by the Chief Guests Narendra Singh Tomar, Union Minister of Agriculture and Farmers Welfare and Parshottam Rupala, Minister of Fisheries, Animal Husbandry, and Dairying, and Kailash Choudhary, Minister of State for Agriculture and Farmers’ Welfare, at a function during the ICAR Foundation and Technology Day.

The product is a synergistic combination of seaweed-based nutraceuticals, which is a 100 per cent natural blend of highly nutritious bioactive ingredients extracted with eco-friendly ‘green’ technology. Dr Kajal Chakraborty, Head of the Marine Biotechnology, Fish Nutrition and Health Division of the ICAR-CMFRI led the research works to develop the product.

The product is a synergistic combination of

Foodgrains, Supply Chain, Trade, World

Pierre-Olivier Gourinchas, IMF’s Chief Economist, cautioned that such restrictions could exacerbate food price volatility worldwide and lead to retaliatory measures

The International Monetary Fund (IMF) has recommended that India lift restrictions on the export of a particular type of rice, as these restrictions could contribute to global inflation. To keep domestic rice supplies stable during the festive season, the Indian government banned the export of non-basmati white rice on July 20.

This type of rice accounts for about 25 per cent of India’s total rice exports. However, there will be no change in export policy for par-boiled non-basmati rice and basmati rice, which make up the bulk of India’s rice exports. Pierre-Olivier Gourinchas, IMF’s Chief Economist, cautioned that such restrictions could exacerbate food price volatility worldwide and lead to retaliatory measures.

India’s non-basmati white rice exports totalled $4.2 million in 2022-23, with major destinations including the US, Thailand, Italy, Spain, and Sri Lanka.

The IMF has projected India’s growth rate for fiscal year 2024 to be 6.1 per cent, up slightly from its previous estimate of 5.9 per cent in April. The IMF has also praised India’s world-class digital public infrastructure, which is driving efficiency gains for businesses. The Indian economy has been robust, and the IMF has called for reforms to increase female labour force participation and training opportunities for youth. Despite the challenges, India’s growth rate is expected to remain above average for the region, with inflation projected to be under control.

Pierre-Olivier Gourinchas, IMF's Chief Economist, cautioned that

Agrotech, Company News, Dairy, India, Live Stock

Madurai to New York world’s first virtual farm – your cow, your milk, become a farmer

The advent of technology has permeated all sectors of life, and agriculture is no exception. Leveraging the boundless potentials of the digital sphere, a new business idea has surfaced – Indigenous Virtual Cow Farming. This innovative concept aims to preserve India’s native cattle breeds and optimise dairy production by introducing a well-structured, efficient farming ecosystem that marries technology with tradition.

Jallikattu Inc, a new age entity, forayed into virtual farming, one of its kind and the world’s first virtual farming business, has been launched successfully in NY TIMES SQUARE.

Dilip Chauhan – Deputy Commissioner NYC Mayor’s Office for International Affairs, Kathirvel Kumararaja – President DevJee Inc & Chairman FeTNA Tamil Entrepreneur Network, Koshy O Thomas – President world malaiyalee association USA, Thomas k Thomas – Director Jallikattu Inc., John Thomas – Senior Company Secretary.
 

Indigenous Virtual Cow Farming (IVCF) is a novel idea that integrates technology into the traditional realm of dairy farming. At its core, IVCF focuses on utilizing cutting-edge tech platforms to simulate farming scenarios, educate farmers, and facilitate the optimal breeding, nurturing, and management of indigenous cattle breeds.

The idea is not to replace physical farming but rather to create a digital representation of the real-world farm where cattle breeders can interact, learn, plan, and make informed decisions without leaving their homes. These virtual farms serve as an accessible, easy-to-navigate platform that provides a real-time simulation of various farming processes.

Two crucial elements define the core objectives of Indigenous Virtual Cow Farming: preservation and augmentation. Preservation seeks to conserve native cattle breeds that are at risk of being lost due to crossbreeding or unfavourable farming practices. Through IVCF, the genetic traits, unique characteristics, and biodiversity of these breeds can be safeguarded, keeping alive the rich heritage they represent.

The IVCF model offers numerous advantages. Preserving indigenous breeds supports biodiversity and promotes the sustainability of local ecosystems. Its tech-driven approach enhances farmers’ skills, bridging the digital divide and empowering them to thrive in the modern agricultural landscape. Furthermore, it ensures quality and quantity in dairy production, contributing to food security.

Madurai to New York world’s first virtual

AgroPolicy, Foodgrains, India

A quantity of 1.16 LMT wheat from 361 depots and 1.46 LMT rice from 178 depots were offered from across the country

The Food Corporation of India (FCI) organised the 5th e-auction of 2023-24 to sell wheat and rice.  The e-auction sold 1.06 LMT of wheat and 100 MT of rice.

In order to control the retail price of rice, wheat and atta, weekly e-auctions are being organised. The government of India is committed towards price stabilisation and its market intervention is aimed at providing relief to the consumers.

A quantity of 1.16 LMT wheat from 361 depots and 1.46 LMT rice from 178 depots were offered from across the country.

The weighted average selling price was Rs. 2182.68/qtl for FAQ wheat against the reserve price of Rs. 2150/qtl Pan India whereas the weighted average selling price of URS wheat was Rs. 2173.85/qtl against the reserve price of Rs. 2125/qtl.

The average selling price was Rs. 3151.10/qtl for rice against the reserve price of Rs. 3151.10/qtl Pan India.

In the current tranche of e-auctions, the reduction in retail price is being targeted by offering up to 100 tonnes maximum for a buyer for wheat and 1000 tonnes for rice. This decision encourages small and marginal end users and ensures that more participants could come forward and bid for the quantity from their depot of choice.

A quantity of 1.16 LMT wheat from

Agro chems – Chemicals, Company News, Finance, India

The company has reported total income of Rs 663.7688 crores during the period ended June 30, 2023, as compared to Rs.844.7811 crores during the period ended June 30, 2022.

Agrochemical company, Sharda Cropchem Limited has reported Consolidated financial results for the period ended June 30, 2023.The company has reported total income of Rs 663.7688 crores during the period ended June 30, 2023 as compared to Rs 1488.8669 crores during the period ended March 31, 2023. The company has posted net profit / (loss) of Rs 88.6399 crores for the period ended June 30, 2023 as against net profit / (loss) of Rs 198.8348 crores for the period ended March 31, 2023.

The company has reported total income of Rs. 663.7688 crores during the period ended June 30, 2023 as compared to Rs.844.7811 crores during the period ended June 30, 2022.The company has posted net profit / (loss) of Rs 88.6399 crores for the period ended June 30, 2023 as against net profit / (loss) of Rs 22.6399 crores for the period ended June 30, 2022.

The company mentioned that raw material and finished goods sales price have reduced substantially. This has led to a stock revaluation as per Accounting Policy and has impacted the gross profit and profitability to the tune of Rs 71 crore.

The company’s revenue during the quarter declined 22.7 per cent year-on-year (YoY) to Rs 638 crore due to lower sales in Europe and the North American Free Trade Agreement (NAFTA) Region. The company said lower volumes in Europe and LATAM regions were on account of high inflation, ongoing recession and adverse weather conditions. It experienced significant decrease in product price realizations, especially in the US.

The company has reported total income of

AgroPolicy, Agrotech, Company News, India, Interaction, Oilseeds

The panel unequivocally echoed the need for the state governments to accelerate its process of setting up the required infrastructure and fast-track the land allotment for oil palm cultivation.

 The Government of India under National Mission on Edible Oils-Oil Palm (NMEO-OP) has initiated a Mega Oil Plantation Drive from July 25 to August 5, 2023. To commemorate this initiative, a roundtable was organized in Guwahati. It witnessed participation from Godrej Agrovet Ltd, Indian Institute of Oil Palm Research, The Solvent Extractors’ Association of India and Solidaridad Network.  The discussion revolved around the importance of oil palm cultivation for the Northeast and how it can uplift the farmers in the region.

The panel unequivocally echoed the need for the state governments in the region to accelerate its process of setting up the required infrastructure and fast-track the land allotment for oil palm cultivation thereby uplifting and prospering the farmers with small land holding.

“The NMEO-OP is a step in the right direction for the country. We thank the government for putting this in place and also taking special care of the Northeast States,” said Balram Singh Yadav, Managing Director, Godrej Agrovet Ltd, a leading diversified, Research & Development focused food and agri-business conglomerate.

He further added, “Our expertise of more than three decades in the oil palm business has enabled us to provide a variety of resources in addition to educating farmers on sustainable oil palm plantation processes. Our success in Andhra Pradesh and Telangana is a testimony of the same. That said, while the region’s unique topography poses immense challenge to us, we are confident of replicating our success in Assam and Arunachal Pradesh on the back of our capabilities. The same would not only uplift the farmers with small land parcels but also generate employment in the region.”

India is the world’s largest importer of Palm Oil and is the 2nd largest consumer of Palm Oil. With the local production of 300,000 tons, the country currently imports 7,500,000 tons.

Dr. B. V. Mehta, Executive Director, The Solvent Extractors’ Association of India highlighted the critical role of palm oil as an affordable cooking oil and a significant source of nutrition for millions of consumers. Despite its importance, our country faces a considerable gap between demand and supply, leading to the annual importation of approximately 140 Lakh Tonnes of various edible oils. This import expenditure amounts to a staggering Rs 120,000 Crores on palm and other oils.

“When ICAR-IIOPR and DA&FW carried out the assessment of oil palm potential areas during 2020, a total of 27.99 lakh ha was found suitable for oil palm cultivation in India, of which, 9.62 lakh ha has been identified in the Northeast States. Presently it is being cultivated in an area of 38,992 ha in NER, leaving much scope for expansion. ICAR-IIOPR is handholding oil palm development in NER through capacity building programmes, seed gardens, planting materials, demonstrations, supply of critical inputs, etc.” said Dr. K. Suresh, Director, ICAR-IIOPR.

Highlighting the sustainability aspect of Indian oil palm cultivation, Dr Suresh Motwani, Veg Oil Program Head – India, Solidaridad Network said “Studies have shown that palm oil is one of the most sustainable crops. By adopting sustainable practices, oil palm plantations can balance the demand for palm oil production with environmental and social responsibility, reducing their overall ecological footprint and contributing to a more sustainable future for farmers. To strengthen the production of palm oil in India the Indian Palm Oil Sustainability framework (IPOS) has been introduced to drive a positive change in the palm oil industry and contribute to more sustainable practices, benefiting the environment, local communities, and the Indian economy.”

The panel unequivocally echoed the need for

Company News, India, People, Supply Chain

This appointment comes at a crucial juncture in Arya.ag’s journey to enhance user experience, optimise processes and drive innovation for leveraging advanced technologies.

Arya.ag, India’s largest and only profitable grain commerce platform, continues to solidify its leadership team with the appointment of Jatinder Alagh as the new Chief Technology Officer (CTO). He was working with Flipkart before joining Arya.ag.

Jatinder Alagh is Engineering & Product leader with more than 20 years of expertise in Design, Architecture and Delivery of large-scale systems that process millions of transactions.  He also has in-depth knowledge of diverse business domains ranging from e-commerce, Retail, Travel, procurement, Transportation, CRM, Back Office Applications, Chat Applications.

Prasanna Rao, Co-Founder & CEO, Arya.ag shared, “We are pleased to welcome Jatinder to our team as we work towards making agritech solutions affordable and accessible to the smallest of stakeholders through Arya. ag. We are confident that his extensive experience and strong engineering background will empower him to lead the tech team effectively as we build India’s most comprehensive integrated digital platform.”

The appointment of Jatinder Alagh as the CTO comes at a crucial juncture in Arya.ag’s journey to enhance user experience, optimise processes and drive innovation for leveraging advanced technologies, furthering the organisational aim to empower all stakeholders in the ecosystem.

“Agritech is an exciting space with immense potential. In my new role, I will strengthen Arya.ag’s position as a technology-led organisation and build teams to propel its growth as the country’s largest and most profitable Agritech. I look forward to working with the team and, more importantly, creating a tech environment that completely aligns with the business’ vision and mission,” shared Jatinder Alagh on his appointment.

Purple Quarter, a leading executive search firm, played a pivotal role in facilitating this strategic appointment.

This appointment comes at a crucial juncture

Agrotech, Company News, IT

FarMart has built data and commerce products to establish a direct farm-to-business supply chain of high-quality and verified agri-produce

FarMart, India’s top intelligent food supply network, has introduced its new-tech platform, Saudabook, to modernise the country’s food sector. FarMart is opening its own ERP (FarMartOS) to all food processors and manufacturers in India. Saudabook is a tech solution that caters specifically to the food processing and manufacturing sector, the company announced.

India’s food manufacturing sector has faced persistent challenges such as limited automation, complex supply chains, and distribution issues. With over three million food processing businesses, many of which are multi-generational family-owned enterprises, this sector contributes significantly to a $500 billion market. Despite the industry’s growth driven by rising domestic consumption and expanding export opportunities, there has been limited tech adoption and automation.

FarMart’s Saudabook aims to transform this scenario by offering its easy-to-use platform, facilitating the digitisation of the entire workflow for food processors. By adopting intelligent procurement processes through Saudabook, businesses can achieve enhanced quality and delivery controls, enabling them to keep pace with the dynamic industry demands, the company claimed.

FarMart has built data and commerce products to establish a direct farm-to-business supply chain of high-quality and verified agri-produce. It boasts a robust network of 3.2 million farmers, 250,000 village-level aggregators who sell produce on the platform, and over 2000 processors and large food businesses that purchase from the platform. With Saudabook, these linkages between India’s food manufacturing industry and India’s farming communities become even stronger, the company informed.

On launch, Alekh Sanghera, Co-founder and CEO, FarMart said, “With SaudaBook, we envision an inclusive and prosperous food economy, where every stakeholder benefits from technological advancements. We firmly believe that digitization holds the key to doubling the food and agriculture contribution to our economy, elevating farmer incomes, and ensuring the world’s access to safe and nutritious food.”

FarMart has built data and commerce products

Agrotech, Company News, India

The AGRIBOT A6 comes in three versions: Bike, Backpack, and 4-wheeler models, all available nationwide

IoTechWorld Avigation Pvt Ltd, a leading manufacturer of Krishi-drones, announced that its AGRIBOT A6 Krishi-drone has received a ‘Type Certificate’ from the Directorate General of Civil Aviation (DGCA). This certificate is an official document that certifies that the AGRIBOT A6 meets all technical parameters and safety standards required for operation in India.

IoTechWorld Avigation is a major player in the Krishi-drone market in India, and the newly launched AGRIBOT A6 drone is 30 per cent more compact than the previous model, making it more stable and reliable. Despite its advanced design, the price has not been increased, as the company aims to increase the adoption of drones in India and provide complete handholding to users.

The AGRIBOT A6 comes in three versions: Bike, Backpack, and 4-wheeler models, all of which are available nationwide through the company’s wide network of dealers.

IoTechWorld Avigation is credited with pioneering the ‘Bike model’ which is easily transported on a motorcycle to fields. The company has established a partnership with agrochemical company Syngenta and has undertaken more than 25,000 km of drone yatra in various parts of the country.

The company aims to sell more than 3,000 drones in the current financial year and is exploring opportunities for export in regions like SAARC, South East Asia, Latin America, and Africa. The Type Certificate received for the AGRIBOT A6 is a testimony to the company’s continuous endeavour to develop high-quality and innovative products, according to Anoop Upadhyay, a Co-Founder and Director of the company.

The AGRIBOT A6 comes in three versions: