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Buffer stock sale and additional procurement to further keep prices under control.

Government of India’s decision to impose Minimum Export Price of US$ 800 per Metric Ton on onion with effect from October 29, 2023 till December 31, 2023 to discourage exports and maintain availability in domestic markets has shown an immediate impact of price correction in Maharashtra markets, where prices recorded a decline of 5 to 9 per cent from the highest price registered during last week. The weighted average price of onion in Maharashtra across all the markets has declined by 4.5 per cent and similar decline was observed in consumption centers as well.

The Department of Consumer Affairs is monitoring onion exports and prices on daily basis to ensure stable domestic prices and availability to consumers. In view of increasing demand in the month of November, Department has started releasing onion buffer stock into the market both through mandi sale and discounted sale to retail consumers at centers of high prices. This includes retail sale through 685 Mobile retail outlets covering over 170 cities. National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and National Cooperative Consumers’ Federation of India (NCCF) have also started procuring additional 2 Lakh Metric Tons (LMT) onion of kharif harvest to be distributed in high price centers to keep the onion prices under control and consumers interest is protected.

Buffer stock sale and additional procurement to

Company’s total income in Q2 FY 2023-24 was Rs 10,170 crore compared to Rs. 12,507 crores during the corresponding period in FY 2022-23.

Global agrochemical company, UPL Ltd. has reported financial results for the second quarter ended FY24 (July-Sep 2023).  Company has reported a consolidated net loss of Rs. 189 crores for the second quarter of 2023-24. Revenue and EBITDA for Q2 impacted by global channel destocking and elevated pricing pressure. Liquidation of high-cost inventory, higher than usual sales returns and rebates to support channel partners impacted contribution margin. Adjusting for this temporary impact, the H1FY24 contribution margins would be higher by 300 bps vs LY (instead of reported 48 bps Year to Year drop). Company’s total income in Q2 FY 2023-24 was Rs 10,170 crore compared to Rs. 12,507 crores during the corresponding period in FY 2022-23.

Differentiated and Sustainable portfolio continued to perform resiliently with higher volumes (+11 per cent YoY). Revenue share of this portfolio rose significantly to 38 per cent of crop protection revenue (from 30 per cent in Q2FY23) Reduced SG&A expenses by 3 per cent YoY to Rs 2,486 crore.

Seeds business continued its growth momentum as revenue grew by 10 per cent YoY in Q2 to INR 1,070 crore while EBITDA is marginally down. For H1FY24, revenue stood at Rs 2,131 crore (+17% YoY).

Commenting on the performance, Mike Frank, CEO – UPL Corporation Ltd., said ″The global agrochemical industry continues to go through a difficult phase with prices coming off significantly vis-àvis the high base of the previous year amid the elevated channel inventory levels and intense price competition. Given this backdrop, the distributors prioritized destocking, and focused on purchases at lower prices to bring down their average inventory cost. In particular, destocking had a significant impact in the US and Brazil during the first half.

Our revenue and profitability for Q2 were significantly impacted by these factors in line with rest of the industry. However, contribution margins improved by 300 bps YoY in H1FY24 adjusted for the short-term impact of high-cost inventory liquidation, higher than usual sales returns, and rebates to channel partners. We also saw a pick-up in volumes (+1% YoY) in the crop protection business (ex-India) led by the resilient performance of our differentiated and sustainable portfolio; revenue share of this portfolio increased to 38 per cent of crop protection revenue vs 30 per cent last year. Our cost reduction drive of $100 million over next two years is under implementation and we are on track to realize benefit of $50 million in FY24, bulk of which will be realized in H2FY24.

Going forward, we are optimistic of progressively improved performance in H2FY24 as key geographies of North America, LATAM and Europe enter major cropping season. The elevated inventory levels are expected to gradually subside with the farmgate demand continuing to be robust. In Europe, Asia, and LATAM (ex-Brazil), channel inventory levels have largely normalized; while in North America and Brazil, the scenario continues to gradually improve.

On the pricing front, most post patent molecule prices seem to have bottomed in Q2 and are now stabilizing. Overall, we are executing well in this challenging market and making changes to our operating model that will further improve our business as the cycle normalises. ″

Company’s total income in Q2 FY 2023-24

The collaboration uplifts the coffee farming community and enhance their livelihoods by providing essential tools and resources.

Ayekart, a leading Food and Agri-FinTech and an integrated digital platform empowering Farmers/FPOs and MSMEs in the food and agri value chain, has partnered with CCL Products (India) Ltd., a renowned Instant Coffee Manufacturer, to bring positive change to the lives of indigenous tribal farmers in the picturesque Araku Valley of Andhra Pradesh. A step forward to Ayekart’s existing initiatives in the region for the past couple of years, this collaboration aims to uplift the coffee farming community and enhance their livelihoods by providing essential tools and resources.

Ayekart’s collaboration with these tribal farmers began in 2021 through the FPO – Visakha Manayam Farmer Producer Company Limited. Extensive training programs for the farmers focused on modern production and processing techniques were conducted. These programs included the utilisation of baby pulpers, proper drying techniques on elevated platforms, accurate measurement of moisture levels, and digital weighing of produce.

The partnership between Ayekart and Visakha Manayam Farmer Producer Company Limited has made a substantial social impact on the lives of indigenous tribes of the Araku Valley by equipping these farmers with the knowledge and resources required to secure fair prices and improve their livelihoods. As a result of these efforts, approximately 1,000 farmers have experienced improved income and enjoyed an enhanced quality of life in the previous coffee season.

Ashutosh Singh, COO and Co-Founder of Ayekart remarked, “We are elated to have successfully conducted extensive GAP (Good Agricultural Practices) training, encouraged collective bargaining and value-addition initiatives with the local tribal farmers through Visakha Manayam Farmer Producer Company Limited. By equipping these farmers with modern techniques and resources, we are helping farmers achieve higher yields and are also improving their income and preserving their unique heritage. Moreover, our collaboration is a testament to our dedication to sustainable development and improving the livelihoods of those in need. We believe that together, we can make a meaningful and lasting impact in Araku, fostering a brighter future for the local communities.”

The Araku Valley is renowned for its Arabica Parchment and cherry coffee cultivation, serving as the primary source of income for the indigenous tribes residing in the region. Despite the region’s rich and fertile lands, commitment to organic farming practices, and the unique quality of its coffee, the farmers have long struggled to achieve fair pricing and economic stability. Intermediaries and local traders often exploit their vulnerability, leaving them with minimal income to support their families.

Praveen Jaipuriar, CEO of CCL Products (India) Ltd., expressed, “At CCL, we believe that businesses are responsible for uplifting the communities. Our collaboration with Ayekart in Araku Valley reflects our commitment to sustainable development, and we are proud to contribute to empowering these dedicated tribal farmers.”

The collaboration uplifts the coffee farming community

French apples are anticipated to reach 1.5 million tonnes, marking an 8 per cent increase from 2022 and a 10 per cent rise from the three-year average with a range of well-known varieties available

The French National Apple and Pear Association (ANPP) has announced that it is bucking a three-year trend with the return of a larger crop of French apples in 2023.

According to the data from the organisation, French apples are anticipated to reach 1.5 million tonnes, marking an 8 per cent increase from 2022 and a 10 per cent rise from the three-year average with a range of well-known varieties available, including Gala, Granny Smith, Golden, Candine, Kissabel, Lolipop, Honeycrunch and organic apple Juliet. This year’s harvest, unaffected by significant weather challenges like drought or storms, promises exceptionally sweet and flavourful apples.

The news comes after it was announced the total European apple harvest is expected to reach 11 million tonnes, 6.7 per cent below 2022.

Daniel Sauvaitre, President, of ANPP, said: “French orchardists dedicate themselves year-round to delivering high-quality apples adhering to Eco-friendly Orchards label, a standard trusted by consumers. The 2023 harvest appears promising and is poised to meet the expectations of GCC consumers in both quantity and quality. Despite rising production costs in the industry, apples remain an affordable choice for consumers, even amid high inflation.”

As part of a three-year plan to support French apple producers in exporting their products to the GCC market, the European Union and Interfel, the French fresh fruit and vegetable interprofessional organisation, have undertaken a series of initiatives to promote French apples to consumers in the Middle East region and will again be highlighting the fruit through a series of activations. 

As part of the outreach program for 2023/24, a total of 444 tasting sessions will take place throughout the GCC, while a series of activations showcasing French apples in malls in Jeddah, Riyadh, Muscat, Doha, and Kuwait are planned, as well as a presence at Taste of Dubai.

French apples are anticipated to reach 1.5

The new multinational agreement with Innovasea, the company said, will allow it to bring its water treatment solutions to a wider segment of the aquaculture market

Water treatment systems specialist Bio-UV Group and Boston, Massachusetts-based aquaculture technology provider Innovasea have signed a new multinational agreement to bring the company’s water treatment devices into the aquaculture market.

Bio-UV, based in France, designs and manufactures water treatment systems that use ultraviolet (UV) radiation, ozone, electrolysis, and advanced oxidation processes (AOP). Its water purification technology has been used in several different applications, the company said, including swimming pools, aquariums, industrial processes, drinking water, and aquaculture.

The new multinational agreement with Innovasea, the company said, will allow it to bring its water treatment solutions to a wider segment of the aquaculture market, as well as help the company adapt its products to meet standards in North America as part of a drive into the market.

“We are delighted to announce our new partnership with Innovasea,” Laurent-Emmanuel Migeon, Bio-UV Group CEO said in a release. “We are confident that, working together, we will open new avenues of business, especially in North America. This partnership is full of opportunities for expansion for both parties, as we share our passion for sustainability and benefit from each other’s expertise, experience, and networks.”

Bio-UV manufactures its products at sites in Lunel and Muret, France and Glasgow, Great Britain, and has mainly targeted the European market. The new partnership, the company said, will allow it greater access to the North American market – and the aquaculture industry.

“Aquaculture is an expanding industry critical to protecting our oceans from overexploitation and essential to maintaining global food security for future generations,” Simon Marshall, Bio-UV Deputy General Manager said. “BIO-UV Group is determined to play its part in supporting and growing this industry, through our UV water disinfection and ozone water treatment solutions. Innovasea has an excellent reputation in the industry and with established channels to market they are a perfect partner to accelerate our growth.”

The new multinational agreement with Innovasea, the

Third quarter results significantly impacted by lower sales in Latin America channel destocking in all regions

FMC Corporation reported a third-quarter 2023 revenue of $982 million, a decrease of 29 per cent versus the third quarter of 2022 and down 29 per cent organically. On a GAAP basis, the company reported a net loss of $0.03 per diluted share in the third quarter, down 103 per cent versus the third quarter of 2022. Adjusted earnings were $0.44 per diluted share, a decrease of 64 per cent versus the third quarter 2022.

“Our results were significantly below the prior year driven by volume headwinds from a continuation of channel destocking behaviour that began in the prior quarter.  Destocking was much worse than anticipated in Brazil. Despite this, on-the-ground application remains steady as growers continue to protect their crops,” said Mark Douglas, FMC president and chief executive officer.  “Branded diamides and our new products outperformed the overall portfolio, which illustrates robustness for differentiated and higher value products even in challenging environments.”

Revenue in the quarter was driven by a 26 per cent decline in volume. Price increases in North America, EMEA and Asia were more than offset by price decreases in Latin America. FX impacts were neutral to revenue.  While overall sales were down 29 per cent, sales of products launched in the last five years were up 4 per cent year-over-year, with growth in all regions.

Sales in all regions declined versus the prior-year period as partners, the distribution channel and growers continued to reduce inventory levels. In North America, revenue was down 34 per cent year-over-year (down 34 per cent organically). EMEA revenue declined 1 per cent (down 4 per cent organically) compared to the third quarter of 2022, as higher pricing and FX tailwinds mostly offset lower volumes. Sales in Asia declined 28 per cent (down 23 per cent organically) as continued destocking across the region negatively impacted volumes. The region reported a 16 per cent growth in products launched in the last five years. In Latin America, revenue was down 33 per cent (down 36 per cent organically) year-over-year driven mainly by lower volumes primarily due to severe destocking in Brazil and, to a lesser extent, drought conditions in Argentina.  Globally, Plant Health revenue was down 20 per cent (down 17 per cent organically) versus the prior year driven by similar, but less severe channel destocking dynamics. 

Third quarter results significantly impacted by lower sales in Latin America channel destocking

Under this partnership Fortune Rice Limited will provide details of 2000 acres of farmland under monitoring and Arya.ag will provide comprehensive insights into crop health and growth patterns.

Arya.ag, India’s largest & only profitable grain platform, is proud to announce a strategic collaboration with Fortune Rice Limited aimed at advancing crop monitoring capabilities for the agricultural industry. This collaboration will leverage Arya.ag’s cutting-edge satellite surveillance product, combined with Fortune Rice’s expertise in agriculture, to enhance the monitoring and growth of paddy crops.

As part of this collaboration, Fortune Rice Limited will provide details of 2000 acres of farmland under monitoring. Arya.ag will provide comprehensive insights into crop health and growth patterns, empowering farmers, and agribusinesses with data-driven decision-making tools.

One of the key highlights of this collaboration is the integration of Arya.ag’s Artificial Intelligence and satellite surveillance solutions to enable access to rich datasets, detailed maps, and a secure application programming interface (API) designed to streamline data retrieval. This will facilitate real-time monitoring and analysis of their subscribed districts, villages and blocks, ensuring a deeper understanding of crop performance. This will enable early detection of anomalies in the monitored farmland and the required active measures in irrigation fertilisation and pest control to increase the operational efficiency and increased yield of the crop. Furthermore, this will be done through an user-friendly mobile.

“We are excited about our collaboration with Fortune Rice, which represents a significant step towards optimizing crop management,” said Anand Chandra, Co-founder and Executive Director of Arya.ag. “Together, we will transform the way farmers and agribusinesses monitor and manage their crops, ensuring food security and sustainable agricultural practices.”

Jai Kumar Gupta, Executive Director at Fortune Rice Limited, stated, “We are delighted about our collaboration with Arya.ag which represents a big step towards modernizing agriculture. Through this collaboration, we will be able to monitor and improve the performance of our paddy crops by utilising cutting-edge technologies. We hope to promote sustainable agriculture, assure food security and provide farmers with useful data-driven insights.”

Fortune Rice’s commitment to harnessing innovative technology aligns perfectly with Arya.ag’s mission to revolutionize agriculture through data-driven solutions. This collaboration marks a significant milestone in the journey toward a more sustainable and productive agricultural sector.

Under this partnership Fortune Rice Limited will

AVPL operates primarily in three areas: Skill Development, Drones Skilling and Assembly and Agri-retail.

AITMC Ventures Limited (AVPL), a pioneer in developing a self-sustained ecosystem covering the entire farming value chain around drone technology, today announced the filing of its Draft Red Herring Prospectus (DRHP) with NSE Emerge. The Company will offer a fresh issue of up to 2,07,32,000 equity shares with a face value of Rs 2/- each through the book-building route. SKI Capital Services Limited has been appointed as the Book Running Lead Manager to the Issue, and Bigshare Services Private Limited as the Registrar to the Issue.

The Gurugram-based company operates three broad business verticals – Skill Development, Drones Skilling and Assembly and Agri-retail. Founded by entrepreneurs Deep Sihag Sisai (Managing Director) and Preet Sandhuu (Chairman) in 2016, AVPL is a “Category A” Training Partner recognised by the National Skill Development Corporation (NSDC) and serves a wide range of government departments & agencies, including other training providers. The company has two subsidiaries – SPH Aviation Private Limited and Farmers City International Private Limited, which enables an ecosystem play. SPH offers DGCA-approved Drone Pilot training programmes at their RPTOs. At the same time, Farmers City International fosters community engagement by establishing Farmer’s City Marts (FCMs), serving as comprehensive one-stop shops for farming needs.

AVPL is focused on ‘Creating a pool of Dronepreneurs and Agripreneurs’ through structured training programmes supported by the Government. By leveraging government subsidies and financial partnerships, AVPL aims to empower individuals with Agri-Drones, enabling them to explore entrepreneurial opportunities in the agricultural sector. Drones manufactured by the company will be available for sale to Drone-preneurs and qualified Drone Pilots in compliance with Government of India regulations. The company has established a Drone Production unit in Jhajjar. It is in the process of establishing a Manufacturing Unit in the “Aviation Hub” in Hisar, Haryana, for R&D and application testing. Besides, AVPL has 11 centres of excellence for Agriculture and drone training across Haryana, Gujarat, Uttar Pradesh, Madhya Pradesh, and Rajasthan. AVPL subsidiary SPH Aviation has one approved RPTO at Gurugram, whereas two more in Sirsa and Sonipat have been submitted to DGCA. Another 8 RPTO applications on their existing Training facilities are in line to submit with DGCA in the next 15-30 days.

“Since 2016, we have focused on building an integrated, robust ecosystem”, said, Deep Sihag Sisai, Founder & Managing Director, AVPL. “The journey towards being a listed company is yet another testament to our commitment to enriching the Indian Agricultural Ecosystem through technology, skill development and democratising access to solutions. We are confident that the increasing adoption of drone technology in agriculture presents a substantial growth opportunity for our Drone-as-a-Service (DaaS) offerings. Furthermore, we are well-positioned to benefit from government incentives and support as we have aligned our strategies with the government’s priorities such as employment and income augmentation in the agriculture sector”, further added Deep.

AVPL operates primarily in three areas: Skill

The product will be launched in the next kharif season under the brand name ‘Orisulam‘.

Best Agrolife Ltd., a leading agrochemical manufacturer in India, announces a groundbreaking achievement in the agricultural field. Its wholly owned subsidiary, Seedlings India Private Limited, has been granted a 20-year patent by the Indian Patent Office-Government of India for its innovative creation, the “SYNERGISTIC GRANULAR HERBICIDAL COMPOSITION FOR PADDY.” The company intends to introduce this one-shot herbicide in the upcoming Kharif season under the brand name “Orisulam”.

This patent follows Best Agrolife’s recent success in securing another 20-year patent for their innovative “Synergistic Pesticidal Composition”, which includes two insecticides and a fungicide and offers an integrated approach to address critical challenges in rice cultivation. In addition to these breakthrough patents, Best Agrolife also made a pivotal shift in the conventional supply chain dynamics by forging a strategic partnership with Syngenta, a global leader in agriculture, to market Pyroxosulfone 85% WG herbicide under the brand name “Movondo”.

Vimal Kumar, Managing Director of Best Agrolife Ltd, expressed his enthusiasm for this milestone, stating, “Weed management has always been a critical factor in optimizing rice crop yields. Successful weed control is essential for obtaining optimum rice yields. We are delighted to receive this patent. It underscores our commitment to innovation and sustainable agriculture. This patent will further strengthen our herbicide portfolio and enable us to serve our farming community better.”

“This powerful single-shot herbicidal composition will provide a comprehensive solution for paddy farmers. This unique blend will offer enhanced weed control, reduced environmental impact, and improved crop safety, thus helping to increase yields and farmer income,” he further added.

The newly patented herbicidal composition is a powerful and effective solution for addressing the challenges of Monocot and Dicot weeds in paddy crops. It offers a comprehensive strategy to combat weeds such as Echinochloa crusgalli, Echinochloa colonum, Ludwigia parviflora, Cyperus rotundus, Cyperus difformis, Cyperus iria, Fimbristylis miliacae, Monochoria vaginalis, Leptochloa chinensis, Panicum repens, Chenopodium album, Commelina benghalensis, and Eclipta alba.

The product will be launched in the

The agreement involves grain sourced by Bunge in Brazil and destined for several countries in Asia, where BKP and CPF produce and sell feed and food.

Bunge, one of the world’s leading agribusiness and food companies, and Bangkok Produce Merchandising Public Company Limited (BKP), a subsidiary company of Charoen Pokphand Foods Public Company Limited (CPF), a world leader in food, have signed a memorandum of understanding to collaborate on developing a blockchain solution for the traceability of soy and deforestation-free products. The agreement involves grain sourced by Bunge in Brazil and destined for several countries in Asia, where BKP and CPF produce and sell feed and food.

This partnership will enable both companies to carry out technical, commercial and operational feasibility studies to build a sustainable supply chain and integrate digitization. The agreement aims to transform traceability data from the field to final customers.

Paisarn Kruawongvanich, Chief Executive Officer of BKP, said blockchain technology will improve traceability of the Agro-industry and company’s food supply chain, providing transparency and ensuring product quality and safety for customers. The agreement with global business partners aligns with BKP’s commitment to achieving a net zero supply chain in 2050.

“Tracing raw materials around the globe, including soy, back to the source is key to ensuring both directly and indirectly sourced raw material do not come from encroachment areas or areas of deforestation,” Kruawongvanich added.

“Bunge strives to be the preferred sustainable solutions partner for producers and customers. The partnership with BKP reflects our business vision that leverages technology as an important tool. Over the past few years, we have built a robust social and environmental verification system that includes advanced traceability and monitoring of our suppliers. We believe that, together with our customers, we will build sustainable supply chains with an additional layer of reliability guaranteed by blockchain,” explains Rossano de Angelis Jr., Bunge’s Vice President of Agribusiness for South America.

Monitoring currently carried out by Bunge covers more than 16,000 farms, or up to 20 million hectares in South America, and relies on state-of-the-art satellite technology, capable of identifying changes in land use and soybean planting on each monitored property. In Brazil, Bunge currently monitors all of its direct supply chain in areas subject to deforestation and is moving toward fully covering the indirect supply chain by 2025. More than 97% of the volume of soy purchased by Bunge is verified free from deforestation and conversion, progressing the company closer to its deforestation-free value chain goal.

By involving two global companies, the scale of the initiative has the potential to raise standards of transparency in the Brazilian soy value chain and increase the confidence of end consumers in soy-derived products around the world.

Through the memorandum, both companies also commit to discussing the possibility of future collaboration on other services, such as exploring opportunities for further integration among systems, with a focus on enabling real-time data transfer, measuring the carbon footprint of the volumes traded with BKP, and improving the digital traceability solution to be compatible with sustainability certification standards, such as the Round Table on Responsible Soy (RTRS), and the International Sustainability & Carbon Certification (ISCC).

The agreement involves grain sourced by Bunge

The clearance to augment the availability of tur ensuring availability and affordability to consumers in India

Rohit Kumar Singh Secretary of the Department of Consumer Affairs held a meeting with Ermindo A. Pereira Mozambique High Commissioner to discuss trade and related issues about tur (Pigeon pea).

Singh conveyed concerns over procedural hurdles that cropped up since July 2023 in Mozambique causing delays in shipment of tur exports consignments from the country. He requested the High Commissioner to intervene to ensure seamless export of tur from Mozambique, just as the Government of India had implemented necessary policy measures to make the imports smooth and seamless. In this regard, the Secretary of Consumer Affairs appraised Ermindo A Pereria about the tur export consignments awaiting clearance at Mozambican ports and stressed the need for expeditious approval. It was also emphasised that the bilateral MoU for trade in tur needs to be upheld as it embodies the commitment of India and Mozambique toward producers and consumers of the two countries.

High Commissioner, Ermindo A Pereria stressed the importance of trade relations between India and Mozambique for the overall agriculture agricultural ecosystem in Mozambique. He assured that necessary steps would be initiated to resolve the current issues concerning tur trade and to ensure the smooth flow of tur exports from Mozambique to India.

The meeting between the Secretary of Consumer Affairs and the High Commissioner of Mozambique at this juncture is significant as a smooth flow of imports from Mozambique will augment the availability of tur during the coming months and ensure availability and affordability to Indian consumers.

The clearance to augment the availability of

The Centre of Excellence for Vegetables & Spices project, under the Indo-Israel initiative, will be set up on 25.57 acres of land in Gundlapalli

The Indian government has approved the Indo-Israel project in Nekarikallu mandal, Gundlapalli in Palnadu in Andhra Pradesh. The project is a result of an agreement between India and Israel to offer the latest farming techniques and related technologies to farmers.

According to the local media, the Centre of Excellence for Vegetables & Spices project, under the Indo-Israel initiative, will be set up on 25.57 acres of land in Gundlapalli. The total cost of the project will be Rs 10.61 crore. This project aims to boost the cultivation of various vegetables such as tomato, cherry tomato, cucumber, brinjal, capsicum, chilli and more.

The Directorate of Horticulture in the state is responsible for implementing the project. The agricultural counsellor at MASHAV, Israel’s Agency for International Development Cooperation, which operates under the Embassy of Israel, has approved the Detailed Project Report (DPR) for the Indo-Israel Centre of Excellence for Vegetables and Spices at Gundlapalli village in the Palnadu district. This project falls under the Mission for Integrated Development of Horticulture (MIDH).

The proposed infrastructure includes a nursery greenhouse with a fan and pad system, a tunnel, a forced-ventilated greenhouse, a naturally-ventilated greenhouse, an insect-proof net house, a 3-MT pre-cooling chamber and a packed house.

The Centre of Excellence for Vegetables &

PLB is widely recognised in the Indonesian aquaculture industry for its commitment to delivering quality post-larvae (PLs)

Prima Larvae Bali (PLB), a leading hatchery in Eastern Indonesia, is bolstered by the expertise of the Center for Aquaculture Technologies (CAT) to elevate their Whiteleg shrimp (vannamei) breeding program. This support enhances PLB’s commitment to delivering biosecure, top-quality postlarvae suited for Indonesia’s unique farming landscape, while also introducing cutting-edge genetic technology.

PLB is widely recognised in the Indonesian aquaculture industry for its commitment to delivering quality post-larvae (PLs). Through a meticulously designed selection scheme and larvae culture process, ensuring that each PL inherits the full genetic potential from the selected broodstock to achieve fast growth and disease resistance. Emphasising rigorous biosecurity measures, PLB exclusively produces 100 per cent Specific Pathogen Free (SPF) PL larvae. Only frozen feeds are used to nurture the shrimp broodstocks, with a firm stance against the use of fresh/live feeds within the facility. This dedication to excellence in larvae culture has not only set PLB apart but has also made a significant contribution to the aquaculture sector in the region.

In an ambitious move to further improve the quality of its offerings, PLB has enlisted the expertise of CAT, an industry leader in aquaculture research and development. Leveraging CAT’s use of advanced statistical models, both organisations aim to refine the selection of genetic lines for shrimp that grow quickly and thrive in commercial settings. CAT’s proven approach includes the utilisation of molecular markers and the latest technologies to generate genetically diverse and adaptable lines of shrimp. Their multi-generational selection methods have already demonstrated improvements in both growth rates and survival capabilities in commercial farm conditions.

PLB is widely recognised in the Indonesian

India briefly overtook China in agrifoodtech investment, while Southeast Asia demonstrated significant potential with $1.7 billion in funding.

As the world’s largest region in both geography and population, with a vast network of smallholder farmers combined with dense urban settings and food sovereignty concerns, Asia-Pacific is a hotbed of opportunity for food and agriculture technology startups.

But in 2023, downstream food delivery and restaurant startups, once the darling of the region’s agrifoodtech ecosystem, fueling tens of billions of dollars of investment, are no longer so attractive to investors.

The new star of the ecosystem is upstream innovation, reveals a new report from leading agrifoodtech venture firm and research platform AgFunder, in collaboration with the Bill & Melinda Gates Foundation, Omnivore and AgriFutures Australia.

While total funding to the farm-to-fork agrifoodtech ecosystem dropped 58 per cent year-over-year (YoY) to $6.5 billion in 2022 from the record-breaking $15.2 billion raised in 2021, investment in startups operating upstream increased 24 per cent YoY. This increase appears to be continuing in 2023, according to preliminary data on 2023 funding flows.

This is good news for the 450 million smallholder farmers producing about 80 per cent of the region’s food. For the first time in years, upstream funding, which provides technologies to farmers and primary food producers, overtook downstream investment. The former raised $3.2 billion in 2022 versus the latter’s $2.7 million, according to the report.

The Ag Biotechnology category was particularly buoyant in the Asia-Pacific region in 2022, bringing in $813 million in funding, nearly half the amount raised globally in this category in 2022. While a couple of very large deals contributed to these totals, there was also greater deal activity in this segment, which includes on-farm inputs for crop & animal agriculture,” confirming investors’ growing interest in this space.

Innovative Food – the category housing the alternative protein industry – bucked the global decline in funding to the segment, with investment actually increasing year-over-year to $527 million, albeit over fewer deals.

Similarly, Farm Management Software, Sensing & IoT ($334m), Farm Robotics ($252m) and Novel Farming Systems startups ($254m), which include indoor farming and aquaculture and insect farming, brought in more funding across fewer deals.

China, meanwhile, lost its lead to India as the country attracting the most funding in 2022, likely due to the loss of downstream mega-deals that propped up China’s agrifoodtech investment in 2021. India’s lead looks to be short lived, however; in H1 2023, China grabbed the top spot back, raising $861 million.

The report includes deep dive sections on investment to startups in Australia, China, India, Indonesia and Southeast Asia. And spotlights on startups Zetifi, Integriculture, Eratani and Tablepointer.

India briefly overtook China in agrifoodtech investment,