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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:

India, Supply Chain, Trade, Vegetables

In the current year, approximately 32,000 metric tonnes of garlic have been exported from the Kulgam and Shopian districts located in the southern region of Kashmir.

The Agriculture Department of Kashmir reports an increase in demand for Kashmiri vegetables and an increase in vegetable exports to different markets in India.

In June and July alone, over 80,719 tonnes of vegetables were exported and 2,16,785 tonnes of vegetables were grown in the state. Despite the challenges posed by the Srinagar Jammu highway, which makes exporting perishable goods difficult, the department managed to export 100 metric tonnes in the last week of July.

The agriculture department is expecting to produce 2,42,000 metric tonnes of vegetables in August, which will contribute to the economy of the farmers.

Additionally, in the current year, around 32,000 metric tonnes of garlic have been exported from the Kulgam and Shopian districts in the southern region of Kashmir.

In the current year, approximately 32,000 metric

Company News, India, Oilseeds, Trade

Company plans to set up an edible oil refinery in Mumbai; the newly launched segment to clock Rs 25 crores in revenues in FY 2023-’24.

Bengalore based Sunpure, South India’s largest edible oil brand, today announced the expansion of its product portfolio with the launch of Sunpure Mustard Oil. The physically pressed oil is chemical-free and processed in low temperatures to retain its natural nutritional and antioxidant properties.

MK Agrotech, Sunpure’s Karnataka-based parent organisation, plans to set up an edible oil refinery in Mumbai to cater to its growing pan-India consumer base. The newly launched Mustard Oil segment is expected to clock Rs 25 crores in revenues in FY 2023-’24.

Speaking about the launch of Sunpure Mustard Oil, Mannan Khan, Director, MK Agrotech, said, “As the world’s largest consumer and importer of edible oils, with a demand of about 23 million tonnes annually, India is a powerful market with remarkable opportunities. Traditional edible oils such as soybean, palm, sunflower, and mustard oil continue to be the mainstay, even as newer choices are being explored in Indian households. Sunpure Mustard Oil is rich in monounsaturated fatty acids (MUFA) and polyunsaturated fatty acids (PUFA), including OMEGA 3 and OMEGA 6, making it a healthy choice for all.”

Gokaran Singh Pawar, National Sales Head, MK Agrotech, said, “At Sunpure, our team has worked very hard for over five months to identify the market requirements, source the best quality raw materials, and ensure a smooth manufacturing process in our state-of-the-art production facility for our latest Mustard Oil offering. As an ISO 22000:2018 certified company, we have stringent quality checks in place to guarantee that all our products adhere to the highest standards of hygiene and safety.”

Sunpure has the distinction of being India’s first chemical-free, processed and physically refined oil, with government patented technology.

Recently, Sunpure also acquired Riso, a leading edible oil brand from Maharashtra, in a bid to further strengthen its presence in key markets. In FY 2022-‘23, Sunpure registered 15 per cent growth, while expanding its footprints across Karnataka, Maharashtra, Kerala, Andhra Pradesh, Telangana, Goa and Tamil Nadu.

Company plans to set up an edible

Agrotech, Biostimulants, Company News, Europe, Inputs

Bionema’s expanded portfolio enhances the company’s offering to the BioAg sector, and complements its ongoing research, training and development of novel biological solutions.

Bionema Group Ltd, a leading biocontrol technology developer and manufacturer, has announced the launch of a new range of biostimulant products in the UK for use in agriculture, horticulture, forestry, and turf and amenities.

Having completed its ten years of R&D research on a range of biostimulants, Bionema Group Ltd is launching seven products, including seaweed extracts, humic and fulvic substances, and other natural nutrients that cover all stages of plant growth, with foliar and root applications in agriculture, horticulture, forestry, and turf and amenities. These products stimulate natural processes in plants and soil, increasing the uptake and assimilation of nutrients, increasing the surface area of roots and the quality of the soil.

Bionema’s expanded portfolio enhances the company’s offering to the BioAg sector, and complements its ongoing research, training and other services in the continuing development of novel biological solutions. It reflects Bionema’s evolution in focus and strategy, announced in 2022 following the company’s deal with Syngenta that secured Bionema’s position as a top 20 world-leading biocontrol company.

Field trials have shown that plants with biostimulants have better resistance against abiotic stress (e.g., heat, drought, salt), while the root reaches more nutrients and can collect more water. In fact, the Bionema team conducted a range of glasshouse and field trials in the UK, EU, India, Canada and LATAM countries, and the findings show that these products may allow farmers to cut their fertiliser use by 50 per cent, while keeping 93 per cent of the yields. In Bionema’s glasshouse trials, root growth was 35% better when using the suggested mix of 50 per cent fertilizer and Bionema’s biostimulants, compared to just using the normal 100 per cent fertilizer mix. The plant biomass (excluding roots) was 93% of that grown with just a common fertilizer mix.

Dr Minshad Ansari, Founder and CEO of Bionema Group Ltd said “There has been growing interest in biostimulants in recent years, as the benefits of these products have become more recognised. Now, as the overall BioAg market is forecast to increase at a CGAR of 13.7 per cent over the next 5 years, the biostimulant section of that market is projected to grow at a rate of 11.8 per cent, reaching $6.2 billion by 2027 (Markets and Markets, 2022). This rapid market growth reflects public concerns about the effects of chemical pesticides on human health, biodiversity and the environment, and associated demands for more natural solutions for enhancing crop yields and plant health”.

Bionema’s expanded portfolio enhances the company’s offering

AgroPolicy, India, R&D

The two countries to hold comprehensive talks between delegations comprising academia, R&D Institutes and Industry in the field of S&T and Biotechnology

India and Argentina have agreed to a bilateral exchange of young researchers and Startups, particularly in the field of Biotechnology and Agriculture.

This was stated by Dr Jitendra Singh Union Minister of State (Independent Charge) Science & Technology; when the Governor of Santa Fe province of Argentina, Omar Angel Perotti called on him, accompanied by a high-level delegation.

The two countries also decided to hold comprehensive talks between delegations comprising academia, R&D Institutes and Industry in the field of Science & Technology and Biotechnology, said the Minister.

Dr Jitendra Singh mentioned that a new Indo-Argentina call for joint proposals was launched on February 7, 2023, in the research areas of Energy Transition and Biotechnology jointly during his meeting with Argentina’s Minister of Science, Technology and Innovation, Daniel Filmus in New Delhi. A total of 82 joint proposals were received under the said call. These are under the evaluation process.

Santa Fe Province accounts for as many as 8 of these joint proposals, said Perotti, adding that the province also accounts for about 80 per cent of bilateral trade between India and the Latin American nation. The Governor mentioned that Santa Fe is the hub of R&D institutions in Biotechnology and Agricultural research especially in Soyabean, and close tie-ups with universities and industry in the province. Pioneering work has been done here in disease-resistant seed production, he said.

The Indian delegation evinced interest in collaborating in Geospatial technology, Quantum Computation and Bio-Enzymes. It was pointed out that India has the world’s third largest Startup ecosystem and there is huge potential for joint studies and collaboration at various levels such as institutional, universities and multilateral fora.

The two countries to hold comprehensive talks

Cold Storage, Company News, Horticulture, North America, Packaging & Labelling, Supply Chain

The acquisition marks a global expansion into table grapes and berries of AgroFresh’s food waste reduction and freshness solutions.

AgroFresh Solutions Inc., a global AgTech innovator and the leader in post-harvest produce freshness solutions, announced the acquisition of Tessara, a post-harvest solutions provider, from global investment firm Carlyle, who acquired majority ownership of Tessara in 2018. The acquisition expands AgroFresh’s footprint in food waste reduction and freshness solutions for table grapes and berries and bolsters the organization’s impact in growing regions in South Africa, China, Australia, and South America.

“Completing this transaction with Tessara creates significant opportunities for AgroFresh to build upon our diversification strategy and further support our customers in their efforts to grow and distribute an abundant supply of sustainable fresh produce around the world,” says Clinton Lewis, CEO at AgroFresh.  “The acquisition is a perfect fit given Tessara’s and AgroFresh’s alignment on leveraging science-based solutions to advance freshness across the global produce industry and we look forward to bringing the innovative team at Tessara onboard.”

Established in 1988 in South Africa, Tessara has since grown to become a leader in post-harvest preservation solutions, which it provides to fresh produce growers worldwide. The company is a leading provider of SO2 solutions for table grapes, berries, and flowers, protecting more than $3 billion worth of fresh produce annually in more than 30 countries.

“We are proud of the Tessara team and our distinctly South African roots and culture,” notes Jaco Smit, CEO of Tessara. “We are also humbled and excited to be part of AgroFresh, the leader in the post-harvest AgTech space and, together, we will leverage our combined network and innovation resources to build a world-class market leader.”

AgroFresh has been a pioneer in post-harvest technology for over 20 years and got its start with the commercialization of the SmartFreshTM Quality System, the industry leading post-harvest solution to maintain produce freshness and quality, which is now used in over 50 countries across multiple crops including apples, pears, plums, kiwis, mangos, broccoli, and avocados.  AgroFresh’s comprehensive portfolio has expanded to include plant-based coatings, antimicrobial solutions, equipment, and digital platforms that help improve quality and reduce waste across the supply chain from harvest to home.

Rabobank advised Carlyle as the exclusive financial advisor on the transaction.  Serving as legal advisers for the transaction for AgroFresh were Morrison & Foerster and Bowman Gilfillan. The transaction remains subject to clearance by the South Africa competition authorities.

The acquisition marks a global expansion into

Award, Company News, India, Machinery - Pre-harvesting, Machinery – Post-harvesting

The brand has been awarded the Best Tractor in the above 60 HP category for the New Holland 5620 TX TREM-IV and in the Best Tractor for Agriculture for New Holland 3630 TX Super Plus

New Holland Agriculture, a brand of CNH Industrial, has been honoured with three awards at the fourth edition of the Indian Tractor of the Year (ITOTY) awards, 2023. The brand has been consistently recognised and honoured at this event ever since the inception of the ITOTY awards.

The brand has been awarded the Best Tractor in the above 60 HP category for the New Holland 5620 TX TREM-IV and in the Best Tractor for Agriculture for New Holland 3630 TX Super Plus. Additionally, under the Best CSR Initiative category, New Holland has been recognised for its Unnat Kaushal skill development initiative. These achievements serve as a testament to the brand’s expertise in providing exceptional farming solutions and equipment in the country.

Since 2019, the ITOTY Award has been presented yearly to honour the innovation and efforts of tractors and farm equipment manufacturers. The Tractor of the Year awards emphasise new features, products, and innovations from the producers.

On the recognition, Sandeep Gupta, Director – Agriculture Brand India, CNH Industrial said, “We at New Holland Agriculture are unwaveringly committed to meeting our customers’ needs with technologically advanced equipment. This prestigious accolade testifies to the competence of our cutting-edge products and will further bolster consumers’ trust in the brand. Our passion for enabling farmers and boosting their productivity, simplifying and enhancing their lives, is shown by our investment in sustainability and innovation.”

Through more than 500 dealers and approved service centres, New Holland Agriculture provides products and services to over 600,000 consumers throughout India. It provides a large selection of tractors for both domestic and international markets, ranging from 20 to 110 HP.

The brand has been awarded the Best

Agro chems – Chemicals, Company News, Finance, India

Company registered sales of Rs 33,746.5 million in Q1 2023-2024, as compared to Rs 38,877.9 million in Q1 2022-23 representing a decrease of 13 per cent.

Agrochemical major, BASF India Limited has reported Profit Before Tax (before exceptional items) of Rs 1,518.7 million for the quarter ended June 30, 2023, as compared to profit before tax (before exceptional items) of Rs 2,641.4 million in the prior-year quarter. 

Company registered sales of Rs 33,746.5 million for the first quarter ended June 30, 2023, as compared to Rs. 38,877.9 million in the corresponding quarter of the previous year, representing a decrease of 13 per cent.

“Despite delayed monsoons the Agricultural Solutions team maintained their revenue growth at par with previous year. This led to better realizations in the market, contributed by the new products launched last year which continue to perform well. Most business segments are impacted due to higher input cost and softening of demand.” said Alexander Gerding, Managing Director, BASF India Limited.

Company registered sales of Rs 33,746.5 million

Company News, Finance, World

This is Corteva’s third dividend increase since its 2019 spin-off and a result of the Company’s firm focus on driving margin expansion

Corteva announced Board of Directors has authorised a common stock dividend of $0.16 cents per share, representing an annualised increase of approximately 7 per cent over the Company’s previous quarterly dividend and payable September 15, 2023, to the Company’s shareholders of record on September 1, 2023. This is Corteva’s third dividend increase since its 2019 spin-off and a result of the Company’s firm focus on driving margin expansion and sustainable long-term growth through industry-leading innovation, high-touch customer engagement, together with disciplined operational execution. This announcement reflects the Company’s continued focus on returning capital to shareholders.

This is Corteva’s third dividend increase since