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Agrotech, Company News, Digital Technologies, India, Start ups

Leveraging the power of Application Programming Interface (API), Satyukt will seamlessly provide access to farm management solutions to farmers associated with Zuari FarmHub.

 Satyukt, a leading global Ag-tech company at the forefront of harnessing satellite data, advanced technology, and machine learning and Zuari FarmHub have entered into a strategic alliance which is set to redefine the landscape of precision farming through Satyukt’s APIs. Leveraging the power of Application Programming Interface (API), Satyukt will seamlessly provide access to farm management solutions to farmers and other stakeholders associated with Zuari FarmHub.

Zuari FarmHub stands as a dynamic force in the agricultural sector, specialised in the manufacturing and distribution of a diverse range of agri inputs. With a comprehensive product portfolio encompassing fertilizers, speciality nutrients, pesticides, and seeds, Zuari FarmHub plays a pivotal role in providing essential resources to farmers across the country.

Through this partnership, the API integration empowers farmers associated with Zuari FarmHub with a level of control and insight into their agricultural operations. They gain access to a comprehensive suite of tools and metrics that cover essential aspects such as soil health, crop health, moisture levels, and the identification of potential threats like pests and diseases. This integration goes beyond traditional methods, providing a seamless and interconnected platform where data flows effortlessly, ensuring real-time access to critical information. Moreover, the collaborative efforts extend to other stakeholders within the agricultural value chain. Agribusinesses and researchers connected to Zuari FarmHub can leverage the integrated data to gain valuable insights into regional agricultural trends and plan resource allocation strategies.

This holistic approach to data-driven decision-making ensures that farmers and other agricultural stakeholders aligned with Zuari FarmHub are equipped with the tools they need to make informed choices in their farming practices. By offering actionable insights, this partnership enables farmers to optimize their productivity, conserve resources, and adopt environmentally friendly and sustainable agricultural methods.

Dr Yukti Gill, MD, Co-Founder of Satyukt, expressed enthusiasm for the collaboration, stating, “Embarking on this transformative journey with Zuari FarmHub fills us with excitement and anticipation. Our joint commitment to innovation means that we will be at the forefront of developing and providing affordable, actionable, and precise agricultural services. This commitment drives us for sustained agricultural growth to create enduring value for farmers.”

Commenting on the partnership, Madan Pandey, MD, Zuari FarmHub said, “We aim to create value for farmers and stakeholders by providing integrated agri solutions to all farm needs. By providing real time access to farm data, we will empower farmers to maximize yields, reduce wastage and hence ensure sustainable farming practices. Precision farming will create the next agricultural revolution in India that will vastly improve the profitability for Indian farmers.”

Leveraging the power of Application Programming Interface

Agribusiness, AgroPolicy, Agrotech, Collaborations, India

The signing of MoUs with 34 Agribusiness companies aimed at providing crucial marketing support to FPOs in Odisha.

The Odisha FPO Conclave 2024 achieved a noteworthy milestone in reshaping the FPO ecosystem in the region. This edition of the FPO Conclave resulted in the signing of 34 Memorandum of Understanding (MoUs) with Agribusiness Companies. The Department of Agriculture & Farmers Empowerment in Odisha has partnered with the Bill and Melinda Gates Foundation (BMGF) to enhance the FPOs’ ability to access lucrative markets, align with government schemes, and implement a Digital Governance system for evaluating the performance of FPOs in Odisha.

Organised by Department of Horticulture and Farmers’ Empowerment, Govt. of Odisha in collaboration with Odisha University of Agriculture and Technology (OUAT), Bhubaneswar, Odisha FPO Conclave 2024 has been a platform with a diverse array of stakeholders, including policy makers, Implementing Agencies, CBBOs, Banks and Financial Institutions, Institutional buyers, Ag-Tech solution providers, Academicians, Industry Experts, Agribusiness Market Players and FPO representatives to deliberate on strategies to enhance market access, positioning Odisha as the hub of agribusiness opportunities through FPOs in eastern part of India. Palladium Consulting India Private Limited was the technical and knowledge partner for the event.

The Conclave was envisaged as a state forum to engage in dialogue among ecosystem stakeholders to accelerate the business transformation of FPOs. More than 500 participants from FPOs across the state in 30 districts participated in the Conclave.

Dr Arabinda Kumar Padhee, IAS, The Principal Secretary, Department of Agriculture and Farmers’ Empowerment addressed the gathering and provided an overview of agriculture and allied sector landscape in Odisha. He further highlighted “The need for collective marketing and focus on value-addition for farmers in the state and the role of FPOs in achieving the same, while emphasizing on the importance of private partnerships for growth of FPOs.

The Vice Chancellor of OUAT highlighted “The collaborative efforts between OUAT and the Department of Horticulture, particularly in bolstering support for FPOs through direct engagement of Krishi Vigyan Kendras (KVKs) and the participation of Agribusiness Management students in research endeavours aimed at strengthening FPO ecosystems.”

Officials from NABARD, ORMAS, NAFED, SBI were invited to the Conclave who interacted with the FPOs during various technical sessions. Sector experts, leaders, and academicians from PRADAN, IPFRI, LEAF, Digital Green, Ninjakart, Sahaydri Farms, Access Development Services, ORIGIN, ISB, Dehaat, Debra Agribusiness FPCL, Farmology, Kalgudi Digital Private Limited, Kisan Saathi, Lawrencedale Agro Processing India Pvt Ltd, Mayurbhanj Grand Pvt Ltd., NEML, Samunnati Finance, Semina Agro Pvt Ltd., Skill Greens, Bank of Baroda, Academicians, from OUAT participated in the Conclave.

The Conclave provided a platform for attendees to forge new partnerships, exchange ideas, and explore collaboration opportunities. The breakthrough event facilitated knowledge exchange and market exploration and enabled ecosystem players to engage in dialogues with sector experts.

The signing of MoUs with 34 Agribusiness

AgroPolicy, Finance, India, Schemes - Banks, Warehousing

Under the MoU, PSB is offering loans against electronic Negotiable Warehouse Receipts with no collateral and attractive rate of interest.

To facilitate farmers and traders in providing low interest rate loans, Warehousing Development Regulatory Authority (WDRA) signed Memorandum of Understanding (MoU) with a Punjab & Sind Bank (PSB). The MoU was signed with the intent of promoting awareness to fund against e-NWRs (electronic Negotiable Warehouse Receipt). The MoU is aimed to provide information to depositors of the benefits, besides doing further outreach activities to improve agricultural pledge finance in India.

PSB is offering loans against e-NWRs with no collateral and attractive rate of interest. Under agriculture sector, up to Rs. 75 lakh and for other category borrowers, up to Rs. 5 crores loans are extended.

During the event, a presentation was made by WDRA on the importance of post-harvest pledge financing using electronic Negotiable Warehouse Receipts (e-NWRs) for improving rural credit. The bank representatives also highlighted the challenges faced by the lending institutions in this sector. WDRA assured their full regulatory support in improving the fiduciary trust among stakeholders.

 MoU was exchanged by T.K. Manoj Kumar, Chairperson, WDRA, Swarup Kumar Saha, MD&CEO, PSB in the head office of PSB. This event is attended by Dr Ram Jass Yadav, ED, PSB, Sh. Ravi Mehra, ED, PSB from PSB and Naveen Barolia, Dy. Director (M&C), Sai Pradeep Gopisetty, Asst. Director (SA&O) from WDRA.

Under the MoU, PSB is offering loans

India, Logistics, Supply Chain

 CSMIA records 44 per cent year-over-year growth in overall agricultural products cargo facility.

Chhatrapati Shivaji Maharaj International Airport (CSMIA) registered an 87 per cent year-on-year growth of e-commerce shipments during the festive season of 2023. CSMIA currently connects 600 international and 65 domestic cargo destinations, according to an official release. CSMIA saw a 12 per cent year-on-year increase in the total number of Air Traffic Movements (ATMs) for air cargo operations in the year 2023.Pharmaceuticals, engineering goods, automobiles, e-commerce, and perishables comprise the major types of goods handled by CSMIA’s cargo facility.

The demand for perishable items, including 4,700 tonnes of exported mangoes, witnessed a year-over-year increase of 318 per cent. Overall agricultural products experienced a 44 percent year-over-year growth. CSMIA successfully handled its inaugural consignment of frozen ready-to-serve food products like idli and vada using specialised va-Q-tec containers bound for Amsterdam.

Internationally, the primary products transported include automobiles, pharmaceuticals, and agricultural cargo. Domestically, the top categories are consolidated cargo (consol cargo), pharmaceuticals, e-commerce, and post office mail.

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 CSMIA records 44 per cent year-over-year growth

Agribusiness, Company News, Finance, India, Sugar industry

The operating performance continues to be driven by higher Revenues and EBITDA due to improved realizations across all segments.

Shree Renuka Sugars Limited – one of India’s largest sugars and Green Energy (ethanol and renewable power) producer and a subsidiary of Wilmar Sugar Holdings Pte Ltd, Singapore – has reported its financial performance for the quarter and nine months ended December 31, 2023.

 Highlights for 9MFY24:

  • Total income for 9MFY24 up by 16 per cent over the previous year from Rs 65,993 to INR 76,763 million.
  • The EBITDA for 9MFY24 stood at Rs 4,785 Mn, an increase by 10 per cent over last year of Rs 4,368 million.
  • Domestic sugar sales volume was up by 3 per cent at 247K MT.
  • Refinery exported 1,026K MT vs 1,062 MT in LY.

 Sales realisation rose to Rs 56K/MT vs 43K/MT LY in view of the firm international values.  Distillery produced during 9MFY24, 11.73 Crores litres Vs 12.16 Crores litres LY due to regulatory ban on ethanol production from cane juice and limiting production from BH molasses.

Atul Chaturvedi, Executive Chairman, said, “The third quarter’s results reflect our steadfast growth in our operations despite the regulatory headwinds of restricted production of Cane Juice & ‘B’ Heavy Ethanol. The global economy continues to face multiple macroeconomic and geopolitical shocks. In spite, of all these challenges, Renuka is successfully progressing ahead. Our total income for 9MFY24 has increased by 18 per cent over the previous year. The company posted a strong 9MFY24 performance driven by improved realizations across all segments.”

Sunil Ranka, Chief Financial Officer said, “Renuka Consol has delivered a stable financial performance in the third quarter with an 9MFY24 EBITDA growth of 13 per cent. Refinery revenues and margins were better as compared to the previous year, which has enabled the EBITDA levels to move upwards to Rs 4,743 Mn from Rs 4,213 million in the previous year. Cane production is likely to be lower in Karnataka and Maharashtra States. Our Anamika acquisition in U.P. (North India) has vindicated the strategy of de-risking geographically and the said unit has performed well as compared over last year which is included in the above results.”

The operating performance continues to be driven

Agro Universities, Agrotech

Two-week training program aimed at fostering innovation and technology commercialization in African nations.

The International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) concluded a highly impactful two-week training program aimed at fostering innovation and technology commercialization in African nations. Representatives from 11 African countries participated in the intensive learning experience from January 29 to February 10, 2024.

The event made possible through the generous support of the Indian Technical and Economic Cooperation (ITEC) program under the Ministry of External Affairs (MEA), Government of India, commenced with an inaugural address by Snehaja Jonnalagadda, Chief of the MEA Branch Secretariat in Hyderabad, on January 29, 2024.

Highlighting the significance of the event, a valedictory ceremony was held on February 9, 2024, where participants were bestowed with certificates.

In her remarks, Dr Jacqueline Hughes, Director General of ICRISAT, lauded the diverse expertise brought forth by participants, representing various ministries and national institutes of science, technology, and agriculture across their respective nations.

Dr Hughes expressed gratitude to the Ministry of External Affairs of the Government of India for their support and underscored the importance of safeguarding intellectual assets, particularly from a legal standpoint.

Dr Deepanwita Chattopadhyay, Chairperson and CEO of IKP Knowledge Park in Hyderabad, also addressed the gathering and presented certificates to the participants.

In her address, Dr Chattopadhyay emphasised the imperative of leveraging the training received, particularly as many participants hold pivotal roles in negotiations within their countries.

Dr Chattopadhyay highlighted the importance of strategic planning in negotiations, urging participants to prioritize opportunities that serve the best interests of their nations.

Dr Suryamani Tripathi, Global Head – Legal Services at ICRISAT, and Dr Padmaja Ravula, Coordinator of ICRISAT’s Dryland Academy, emphasised the role of participants as ambassadors for their countries and advocated for the continuation of the invaluable network established during the training.

Two-week training program aimed at fostering innovation

Agro chems – Chemicals, Company News, Finance, India

The company has reported total income of Rs 568.889 crores during the period ended December 31, 2023, as compared to Rs.766.161 crores during the period ended December 31, 2022.

Sumitomo Chemical India Limited has reported Consolidated financial results for the period ended December 31, 2023.The company has reported total income of Rs 568.889 crores during the third quarter ended December 31, 2023, as compared to Rs 928.047 crores during the period ended September 30, 2023. The company has posted net profit / (loss) of Rs. 54.713 crores for the period ended December 31, 2023, as against net profit / (loss) of Rs. 143.446 crores for the period ended September 30, 2023. The company has reported EPS of Rs. 1.1 for the period ended December 31, 2023, as compared to Rs 2.87 for the period ended September 30, 2023.

The company has reported total income of Rs 568.889 crores during the period ended December 31, 2023 as compared to Rs.766.161 crores during the period ended December 31, 2022. The company has posted net profit / (loss) of Rs 54.713 crores for the period ended December 31, 2023 as against net profit / (loss) of Rs 90.483 crores for the period ended December 31, 2022. The company has reported EPS of Rs.1.1 for the period ended December 31, 2023 as compared to Rs 1.81 for the period ended December 31, 2022.

The company has reported total income of Rs.2238.710 crores during the 9 Months period ended December 31, 2023, as compared to Rs.2887.764 crores during the 9 Months period ended December 31, 2022. The company has posted net profit / (loss) of Rs 259.837 crores for the 9 Months period ended December 31, 2023, as against net profit / (loss) of Rs 430.080 crores for the 9 Months period ended December 31, 2022.

The company has reported total income of

AgroPolicy, Award, India, People, R&D

Dr Swaminathan’s visionary leadership has not only transformed Indian agriculture but also ensured the nation’s food security and prosperity.

The Prime Minister, Shri Narendra Modi, today announced that Dr MS Swaminathan, known for his pivotal role in the Green Revolution, will be conferred the highest civilian award, Bharat Ratna. He said that Dr Swaminathan’s visionary leadership has not only transformed Indian agriculture but also ensured the nation’s food security and prosperity.

The Prime Minister mentioned in the post on X, “It is a matter of immense joy that the Government of India is conferring the Bharat Ratna on Dr MS Swaminathan Ji, in recognition of his monumental contributions to our nation in agriculture and farmers’ welfare. He played a pivotal role in helping India achieve self-reliance in agriculture during challenging times and made outstanding efforts towards modernizing Indian agriculture. We also recognise his invaluable work as an innovator and mentor and encouraging learning and research among several students. Dr Swaminathan’s visionary leadership has not only transformed Indian agriculture but also ensured the nation’s food security and prosperity. He was someone I knew closely, and l always valued his insights and inputs.”

Born on August 7, 1925, in Kumbakonam, Tamil Nadu, Dr Swaminathan’s journey in agriculture began after witnessing the devastating Bengal famine of 1943. His decision to focus on ensuring India’s food security led him to become a key figure in the Green Revolution of the 1960s, which transformed India from a food-deficient nation to one of the world’s leading agricultural producers. His collaboration with Nobel laureate Norman Borlaug introduced high-yielding varieties of wheat and rice, saving millions from starvation.

Dr Swaminathan’s visionary leadership has not only

Award, Company News, India, People

The award recognises his remarkable efforts to promote technologies and contributing to the growth of Indian Agrochemical industry and Indian agriculture.

Nadir Godrej, Chairman and Managing Director of Godrej Industries Limited (GIL) and Chairman of Godrej Agrovet Limited (GAVL) and Astec LifeSciences Limited, has been awarded the prestigious Lifetime Achievement Award by the Pesticides Manufacturers & Formulators Association of India (PMFAI). Facilitated yesterday at the 5th edition of PMFAI-SML Annual Agchem Awards 2024, it was organized at the sidelines of 19th International Crop Science Conference & Exhibition (ICSCE Dubai 2024).

Established in 1967, PMFAI is a national association representing Agrochemicals/Pesticide Industry with 221 large, medium and small-scale Indian Agrochemical industries as its members. It works to enhance agricultural competitiveness by advocating for improvements and innovations in technologies that provide farmers with quality crop protection products. The Annual Agchem Awards were instituted by PMFAI in 2018 to acknowledge and honor exceptional achievements and contributions in the Indian Agrochemical Industry.

The Lifetime Achievement Award bestowed upon Nadir Godrej recognises his outstanding contributions to the Indian Agrochemical Industry and his remarkable efforts to promote technologies and contributing to the growth of Indian Agrochemical Industry and Indian Agriculture.

Reflecting on the recognition, Godrej expressed his gratitude, stating, “I am deeply honoured to receive the Lifetime Achievement Award from PMFAI. This recognition is a celebration of the collective dedication and tireless efforts of the entire team. Our commitment to providing innovative and sustainable crop protection solutions aligns with the mission of PMFAI to enhance agricultural competitiveness and promote sustainable growth. I am truly thankful for this honor and inspired by the collaborative efforts that brought us here”

On the groups commitment for agrochemical and CDMO space, he further added “Our unwavering commitment to innovation and enhancing agriculture productivity is evident through our dedicated Research & Development units. Our firm belief in the power of collaboration and actively engaging with multinational companies allows us to consistently deliver tailormade solutions that address farmers’ challenges, ensuring our commitment to excellence and sustained performance in the agricultural sector. This recognition further reaffirms our commitment to excellence and sustainability in the agricultural sector.”

This award not only celebrates a lifetime of exceptional contributions but also adds to Godrej’s long-standing legacy of progressive contributions.

The award recognises his remarkable efforts to

Acquaculture, AgroPolicy, Finance, India, Schemes - Govt

Extension of FIDF will further intensifies development of various fisheries infrastructures like fishing harbours, fish landing centres, ice plants, cold storage, fish transport facilities, integrated cold chain, modern fish markets, Brood Banks, etc.

The Union Cabinet chaired by Prime Minister Narendra Modi approved extension of Fisheries Infrastructure Development Fund (FIDF) for another 3 years upto 2025-26 within the already approved fund size of Rs 7522.48 crore and budgetary support of Rs 939.48 crore.

In order to address the infrastructure requirement for fisheries sector, the union Government during 2018-19 created the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) with a total funds size of Rs 7522.48 crore.  In the earlier phase of implementation of FIDF during the period from 2018-19 to 2022-23, a total 121 fisheries infrastructure projects with an investment cost of Rs. 5588.63 crore have been approved for creation of various fisheries infrastructures. Extension of FIDF will further  intensifies development of various fisheries infrastructures like fishing harbours, fish landing centers, ice plants, cold storage, fish transport facilities, integrated cold chain, modern fish markets, Brood Banks, Hatcheries, aquaculture development, Fish Seed Farms, state of art of fisheries training centres, fish processing units, fish feed mills/plants, cage culture in reservoir, Introduction Deep Sea Fishing Vessels, disease Diagnostic Laboratories, Mariculture and Aquatic  Quarantine Facilities.

FIDF will continue provides concessional finance to the Eligible Entities (EEs), including State Governments/Union Territories for development of identified fisheries infrastructure facilities through Nodal Loaning Entities (NLEs) namely National Bank for Agriculture and Rural Development (NABARD), National Cooperatives Development Corporation (NCDC) and All scheduled Banks. The Government of India provides interest subvention up to 3 per cent per annum for the repayment period of 12 years inclusive of moratorium of 2 years for providing the concessional finance by the NLEs at the interest rate not lower than 5 per cent per annum.

The Government of India also provides credit guarantee facility to the projects of entrepreneurs, individual farmers and cooperatives from the existing credit guarantee fund of Infrastructure Development Fund of Department of Animal Husbandry and Dairying.

The eligible entities under FIDF are State Governments / Union Territories, State Owned Corporations, State Government Undertakings, Government Sponsored, Supported Organizations, Fisheries Cooperative Federations, Cooperatives, Collective Groups of fish farmers & fish produces, Panchayat Raj Institutions, Self Help Groups (SHGs), Non-Governmental Organisations (NGOs), Women & their entrepreneurs, Private Companies and Entrepreneurs.

Further, the extension of FIDF will further leverages the financial resources, encourages more investments in development of infrastructure for fisheries and aquaculture both from the public and private sector, thereby promoting economic development and expansion of fisheries and aquaculture sector. 

Extension of FIDF will further intensifies development

Agribusiness, Agro chems – Chemicals, Company News, Environment, North America, Sustainability

Syngenta is the only company within the agricultural sector to be included in the latest EPA’s National Top 100 List of top users of green power from the Green Power Partnership.

Syngenta Group, one of the world’s leading global agriculture technology companies, announced today that its manufacturing facility in St. Gabriel, Louisiana, US, has been recognized as a top user of green power by the U.S. Environmental Protection Agency (EPA). Syngenta is the only company within the agricultural sector to be included in the latest EPA’s National Top 100 List of top users of green power from the Green Power Partnership.

This recognition marks the latest milestone in the company’s actions to decarbonize its operations globally. Dr Tom Gray, Head of Active Ingredient Strategy and Operations at Syngenta Group, said: “We are proud to be recognized by the U.S. Environmental Protection Agency for being a leader in the green power market. The implementation of our global strategy for sourcing renewable electricity is well underway, and we are working hard to decarbonize further and improve the energy efficiency of our operations. We are also collaborating closely with our partners throughout our global supply chain to decrease our entire carbon footprint.”

The St. Gabriel production site is one of Syngenta’s global manufacturing centers of excellence equipped to handle highly complex processes and meet the most stringent production and quality standards. The site consumes more than 150 million kWh of energy annually – equivalent to the annual electricity use of 14,000 homes in the country. Through the purchase of Renewable Energy Certificates, Syngenta’s site demonstrates that it sources 100 percent of its electrical energy from renewable sources such as wind and solar – fully offsetting its electricity consumption from fossil fuel-based sources.

Program Manager of EPA’s Green Power Partnership James Critchfield said: “This list of the largest users of green power across the nation is proof that good business practices can also benefit the environment. EPA applauds the leading organizations in the Green Power Partnership’s Top Partner Rankings for their notable commitment to expanding their use of green power and protecting the environment.”

Globally, Syngenta has also invested significantly at its other production sites, as part of its published commitment to reduce carbon emissions by 2030. In Switzerland, Syngenta’s production site in Monthey uses hydropower for a sizeable portion of the site’s electricity needs and generates the equivalent of half its steam consumption by recovering heat from household waste incineration. In 2023, Syngenta’s Monthey site was awarded the “Go Carbon Free” label by the Carbon Free Valais Foundation, in recognition of its efforts to reduce its carbon footprint.

In Brazil, Syngenta’s R&D and manufacturing sites for its crop protection and seeds businesses also source 100 percent of their electricity needs from renewable sources. This was achieved alongside comprehensive efforts aimed at reducing water consumption and waste generation, and at long-term net-zero energy sourcing.

In China, the Kunshan manufacturing site emerged as Syngenta Group China’s first carbon-neutral facility after Beijing Green Exchange, a platform for carbon emission trading in China, awarded it in July for fully offsetting its carbon emissions generated from its operations. The site is implementing continuous improvements such as real-time monitoring of electricity usage, alongside upgrading equipment to be more energy efficient.

Syngenta is the only company within the

Agro Universities, Agrotech, Foodgrains

The DA-IRRI SERVE 2 project aims to continually strengthen and sustain the gains in capacity development and partnership in rice science between IRRI and DA.

The International Rice Research Institute (IRRI) and the Philippine Department of Agriculture (DA) signed a Memorandum of Agreement (MoA) for the formal turnover of the Digital Training Module on Rice: Research to Production (RR2P) from IRRI to the DA-Agricultural Training Institute (DA-ATI).

The ceremonial turnover marks the official transitioning of the Rice: Research to Production (RR2P) Online Training Program developed under the DA-IRRI “Strengthening the capability of national research for development and Extension partners for Research and development and Extension of information and technologies to improve productivity, competitiveness, and resilience of rice-based farming communities in the Philippines (DA-IRRI SERVE 2)” Project which ended last October 2023.

The DA-IRRI SERVE 2 project aims to continually strengthen and sustain the gains in capacity development and partnership in rice science between IRRI and DA through work packages that build on the successes and unify the capacity development initiatives of its predecessor projects, SERVE 1 and Enhancing the Research and Development Capacities (Skills, Competencies and Capabilities) and Formulation of the R&D Capacity Development Program of the Regional Rice and Rice-based Research and Development Network (ER4D). The SERVE 2 Project generally aims to provide a platform and enabling mechanisms to the national agricultural research and extension partners (NAREP) from the different DA Regional Field Offices and Attached Agencies, State Universities and Colleges (SUCs), and Local Government Units (LGUs).

Following its development in 2018, the project team implemented the RR2P Online Training Program in 2019 to educate and help build national capacity towards Agriculture 4.0. The program was adapted from the annual 3-week face-to-face RR2P course offered by IRRI’s capacity development arm, IRRI Education. The pilot implementation had a total of 115 completers, where 82 are from SUCs, 32 are from DA Regional Field Offices (DA-RFOs) and Attached Agencies, and 1 from a Local Government Unit (LGU). This was done to ensure that the online learning modules are appropriate for its future target users and gather feedback to further enhance the content and its delivery.

After the pilot run, an improved version of the course utilizing a blended learning approach where participants will have both synchronous and asynchronous 5 to 9-week online training sessions and a 1-week face-to-face session was developed. The face-to-face session served as an integration platform and avenue to readily apply the skills acquired by the training participants and validate the knowledge gained through practical hands-on sessions, field exercises, problem-solving, and formulation of recommendations.

From 2021 to 2023, the DA-IRRI SERVE 2 Project Team was able to implement six (6) online rollouts and two (2) face-to-face RR2P Training. This resulted in 279 online completers where 159 are from DA-RFOs and Attached Agencies, 76 are from SUCs, and 44 are from LGUs. On the other hand, the two face-to-face programs had a total of 114 participants where 72 are from DA-RFOs and attached agencies, 32 are from SUCs, and 10 are from LGUs.

As the capacity builder, knowledge bank, and catalyst of the Philippine Agriculture and Fisheries extension system, the DA-ATI will finalize plans and preparations for the pilot implementation of the course outside of the project to ensure that the program will remain widely used by trained experts and sustained for implementation across the country.

Similar to the course implementation conducted by IRRI Education, the RR2P Course will have asynchronous and synchronous sessions for the online program with a five-day face-to-face component. The tentative implementation date for the online course is May 2024.

The DA-IRRI SERVE 2 project aims to

Agro chems – Chemicals, Company News, Finance, World

Company’s revenue from Europe declined by 30 per cent YoY, followed by Latin America (down 28 per cent YoY) and India (down 20 per cent YoY).

The agrochemical major UPL Ltd has reported a consolidated net loss of Rs 1,217 crore in Q3 FY24 as against a net profit of Rs 1,087 crore recorded in Q3 FY23. Company’s revenue from operations declined 27.72 per cent YoY to Rs 9,887 crore in the quarter ended 31 December 2023. Loss before exceptional items and tax was at Rs 1,649 crore as against profit before exceptional items of Rs 1,515 crore reported in the same quarter a year ago.

Revenue and EBITDA for Q3 continued to be impacted by global channel destocking and ongoing pricing pressure in post patent space exacerbated by higher rebates, company mentioned. UPL’s income from North American tumbled 64 per cent YoY, revenue from Europe declined by 30 per cent YoY, followed by Latin America (down 28 per cent YoY) and India (down 20 per cent YoY) and rest of the world shed by 12 per cent YoY during the period under review.

UPL said that the revenue and EBITDA for Q3 continued to be impacted by global channel destocking and ongoing pricing pressure in post patent space exacerbated by higher rebates.

During the quarter, contribution profit jumped 54 per cent YoY to Rs 2,689 crore and contribution margin declined to 42.6 per cent from 42.6 per cent in Q3 FY23. Liquidation of high-cost inventory, and higher rebates to support channel partners, impacted contribution margin, as per the statement.

The company’s revenue from crop protection was at Rs 8,495 crore (down 30.68 per cent YoY) and non -agro came in at Rs 520 crore (down 9.25 per cent YoY). However, income from seeds business was at Rs 931 crore (up 2.08 per cent YoY)

Mike Frank, CEO, UPL Corporation, said, “Destocking continued to weigh down the global agrochemical market. Overall, prices remained stable QoQ in the crop protection business but came off significantly as against with the high base of previous year amid intense post patent price competition.

However, we did see a pick-up in volumes in Latin America, and a double-digit growth in revenue in the RoW region. Our high margin differentiated and sustainable portfolio continued to outperform as revenue 2 share of this portfolio increased to 37% of crop protection revenue (ex-India) vs 28 per cent last year. Contribution margins too were down only marginally versus last year adjusted for the short-term impact of high-cost inventory liquidation and higher rebates to channel partners.

We continued to implement cost optimization initiatives to align our operations with the new reality, reducing SG&A expenses by 19 per cent YoY in Q3. We are well on track to reduce our SG&A by $100 million in FY25 (from the base of FY23). Going forward, while we are optimistic of a progressively improved performance in Q4FY24 and Q1FY25, we expect normalized business performance from Q2FY25. Our foremost priority is reducing debt. In-line with this, we have also recently announced a rights issue of upto $500 million and are exploring capital raise opportunities at platforms in addition to operational cash flows.”

Company’s revenue from Europe declined by 30

Agribusiness, Agro chems – Chemicals, Agrotech, Company News, Finance, India

The company has reported total income of Rs. 410.5231 crores during the period ended December 31, 2023, as compared to Rs.401.0278 crores during the period ended December 31, 2022.

Dhanuka Agritech Limited has reported Consolidated financial results for the period ended December 31, 2023. The company has reported total income of Rs. 410.5231 crores during the period ended December 31, 2023, as compared to Rs 623.6745 crores during the period ended September 30, 2023. The company has posted net profit / (loss) of Rs. 45.3690 crores for the period ended December 31, 2023, as against net profit / (loss) of Rs. 101.7688 crores for the period ended September 30, 2023.The company has reported EPS of Rs 9.95 for the period ended December 31, 2023, as compared to Rs. 22.33 for the period ended September 30, 2023.

The company has reported total income of Rs. 410.5231 crores during the period ended December 31, 2023, as compared to Rs 401.0278 crores during the period ended December 31, 2022. The company has posted net profit / (loss) of Rs.45.3690 crores for the period ended December 31, 2023, as against net profit / (loss) of Rs.46.0656 crores for the period ended December 31, 2022. The company has reported EPS of Rs.9.95 for the period ended December 31, 2023, as compared to Rs.9.89 for the period ended December 31, 2022.

Financial Results (9 Months Ended FY2024) – YoY Comparison

The company has reported total income of Rs1409.9126 crores during the 9 Months period ended December 31, 2023, as compared to Rs.1359.0059 crores during the 9 Months period ended December 31, 2022. The company has posted net profit / (loss) of Rs 180.0771 crores for the 9 Months period ended December 31, 2023, as against net profit / (loss) of Rs168.1984 crores for the 9 Months period ended December 31, 2022.The company has reported EPS of Rs.39.51 for the 9 Months period ended December 31, 2023, as compared to Rs.36.11 for the 9 Months period ended December 31, 2022.

The company has reported total income of