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Acts & Schemes – Centre, AgroPolicy, Agrotech

Initiatives aim to empower farmers, streamline Grievance Redressal, and enhance Agricultural Training for sustainable growth.

Union Minister of Agriculture and Farmers Welfare and Tribal Affairs Arjun Munda launched the centralised “Kisan Rakshak Helpline 14447 and Portal”, Agri-Insurance Sandbox Framework Platform SARTHI and Learning Management System (LMS) Platform for the farming community under the Pradhan Mantri Fasal Bima Yojana (PMFBY) in Delhi.

Since its inception in 2016, the Pradhan Mantri Fasal Bima Yojana (PMFBY) has been a safety net for farmers in India, protecting them from the unpredictability of nature through crop insurance. It became crucial for the scheme to ensure farmers could navigate the claim process, submit grievances, seek information on their queries and obtain timely assistance without difficulty. To address these challenges and ensure prompt support for farmers, the Government has introduced the Krishi Rakshak Portal and Helpline (KRPH) 14447. This platform provides multilingual support, enabling transparent communication and real-time resolution of grievances related to compensation delays and insurance queries. By streamlining processes and offering accessible assistance, KRPH underscores the Government’s steadfast commitment to the welfare and prosperity of the farming community.

The launch of the LMS, KRPH – 14447, and SARTHI represents the latest milestone in the Ministry of Agriculture’s ongoing transformative journey in Indian agriculture. These initiatives, introduced alongside cutting-edge technologies such as YES-Tech, Digi-Claim, WINDS, CROPIC, and AIDE app, underscore the Government’s unwavering commitment to innovation, resilience, and sustainability in farming. Together, these initiatives embody a holistic approach to fostering the welfare and sustainability of the farming community, aligning with the Government’s vision for a resilient and prosperous agricultural sector.

Another significant launch was The Learning Management System (LMS), developed in collaboration with the National E-Governance Division (NeGD). Its primary goal is to provide stakeholders, including farmers, insurance companies, Government officials, state Government representatives, and participants in the Pradhan Mantri Fasal Bima Yojana (PMFBY), with the essential skills and knowledge needed for efficient crop insurance and agricultural credit. The LMS will facilitate training and knowledge sharing through interactive modules, personalized training programs, and accessible resources. Stakeholders can deepen their understanding of agricultural practices, crop insurance protocols, and financial mechanisms. The LMS can be accessed on https://elearn-pmfbykcc.lms.gov.in.

While crop insurance has been a primary product for farmers, the Government has also extended insurance to the entire agricultural community through other products. Recognizing the multifaceted risks faced by farmers beyond crop losses, the comprehensive digital insurance platform SARTHI was launched in collaboration with UNDP India. SARTHI extends coverage to health, life, home, shop, agriculture implements, motor, and parametric products. SARTHI can be accessed via the AIDE app available on Android App Store.

This ambitious endeavour, aligned with the Sustainable Development Goals, not only aims to safeguard farmers’ livelihoods but also to fortify the resilience of the agricultural sector as a whole. With 56 crore applications already enrolled under PMFBY, SARTHI marks a significant advancement beyond traditional crop insurance, offering a diverse array of products tailored to farmers’ needs. By expanding insurance coverage to include vital assets like tractor machinery, SARTHI empowers farmers to comprehensively mitigate risks, securing their livelihoods and fostering long-term sustainability in agriculture.

Initiatives aim to empower farmers, streamline Grievance

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

During the current quarter, the company achieved a remarkable total revenue reaching Rs 3579.42 Mn in Q3FY24, compared to Rs 3565.32 Mn in the same period last year.

Insecticides (India) Ltd. (IIL), a leading manufacturer of crop protection and nutrition products in India, declared its financial results for the third quarter & nine months of fiscal year 2024. With a diverse portfolio comprising over 21 technical products, and 105 formulation products which includes 35 Maharatna Products, IIL continues to be at the forefront of the industry.

During the current quarter, the company achieved a remarkable total revenue reaching Rs 3579.42 Mn in Q3FY24, compared to Rs 3565.32 Mn in the same period last year. IIL also witnessed a significant improvement in the EBITDA (Excluding other income) which increased by 11.84 per cent during Q3 FY24, reaching Rs 260.11 Mn as compared to Rs 232.57 Mn in Q3 FY23. Profitability also showed commendable growth, with a remarkable 31.41 per cent increase in Profit after tax during Q3 FY24 totalling Rs 123.07 million in contrast to Rs 93.66 Mn in Q3 FY23.  

In the first nine months of FY24, IIL recorded Rs 16938.83 million in revenue, a significant 12.97 per cent growth compared to Rs 14994.31 Mn in the first nine months of FY23. IIL’s profitability remained resilient, with a 2.26 per cent growth in profits after tax during 9M FY24 amounting to Rs 946.02 million, compared to Rs 925.08 million in 9M FY23.

IIL’s strategic focus on enhancing the mix of value-added products, including Hachiman, Torry, and Shinwa, etc. the past two years has contributed to the upward trajectory. In this quarter IIL has launched two new products namely Million, a herbicide for wheat, and Nirog, a bio fungicide.

Commenting on the performance, Rajesh Aggarwal, Managing Director of Insecticides (India) Limited, stated, “We continue to witness growth across our product portfolio, driven by R&D and backward integration initiatives. Our focused marketing efforts and brand-building activities have yielded positive results despite of odds of the season. We remain committed to sustainable growth and extend our gratitude to all our stakeholders for their support.”

IIL has made significant progress in digital engagement with farmers, enhancing channel engagement and providing crop advisors with accurate data.

During the current quarter, the company achieved

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

Company’s Profit Before Tax stood at Rs 1,242 million as compared to Rs 1,836 million in the corresponding period of FY 2022-23.

Bayer CropScience Limited has announced its unaudited results for the quarter and nine months ended December 31, 2023. In the third quarter (Q3) of Financial Year (FY) 2023-24, Bayer CropScience Limited (BCSL) earned Revenue from Operations of Rs 9,549 million, as compared to Rs 10,379 million in the corresponding period of FY 2022-23. Profit Before Tax (Before Exceptional Items) stood at Rs 1,242 million, compared to Rs 829 million in the corresponding period of FY 2022-23. Profit Before Tax (After Exceptional Items) stood at Rs 1,242 million as compared to Rs 1,836 million in the corresponding period of FY 2022-23.

For the nine months ended December 31, 2023, BCSL reported Revenue from Operations of Rs 43,117 million, compared to Rs 41,572 million for the corresponding period in FY 2022-23. Profit Before Tax (Before Exceptional Items) for the nine months ended December 31, 2023, stood at Rs 8,360 million, compared to Rs 6,942 million for the corresponding period in FY 2022-23. Profit Before Tax (After Exceptional Items) stood at ₹ 8,360 million as compared to Rs7,949 million in the corresponding period of FY 2022-23.

Commenting on the quarterly performance, Simon Wiebusch, Vice Chairman/Managing Director and CEO, BCSL said, “An erratic monsoon led to low water reservoir levels. The resulting crop shifts and missed sprays, had an unfavorable impact on our quarterly sales performance owing to lower volumes and sales returns. While Crop Protection liquidation has been sluggish on the back of the weak season, we actively managed rebates and discounts and thus maintained our margins to a large extent. A more diversified corn footprint supported seeds sales. We continue to steadily expand our efforts in support of the Government’s collectivization endeavors by reaching out to 3000+ Farmer Producer Organizations (FPOs), of which 10 belong to women, with BCSL supporting the creation of over 110 FPOs in the country. Also, we continue to focus on Better Life Farming as our extended smallholder farmer go to market.”

Simon Britsch, Chief Financial Officer, BCSL said, “We continued our efforts and focused on optimizing our operating expenses, achieving sizable efficiencies in the past 9 months. We were thus able to expand our profit margins in a difficult market environment. While managing operating expenses, we continue to make significant investments into future growth and market reach.”

Company’s Profit Before Tax stood at Rs

AgroPolicy, Foodgrains, India, Supply Chain, Trade

All wheat stocking entities are required to register on the wheat stock limit portal and update the stock position on every Friday.

In order to manage the overall food security and to prevent hoarding and unscrupulous speculation, the Government of India imposed stock limits on Wheat applicable to Traders/Wholesalers, Retailers, Big Chain Retailers and Processors in all States and Union Territories. The Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2023 was issued on 12 June 2023 and is applicable until 31st March 2024 for all States and Union Territories.

The Department of Food and Public Distribution is maintaining a close watch over the stock position of Wheat to control prices and ensure easy availability in the country.

All wheat stocking entities are required to register on the wheat stock limit portal (https://evegoils.nic.in/wsp/login) and update the stock position on every Friday. Any entity which is found to have not registered on the portal or violates the stock limits will be subject to suitable punitive action under Section 6 & 7 of Essential Commodities Act,1955.

In case the stocks held by above entities are higher than the above prescribed limit, they shall have to bring the same to the prescribed stock limits within 30 days of issue of the notification. Officials of Central and State Governments will be closely monitoring enforcement of these stock limits to ensure that no artificial scarcity of wheat is created in the country.

Also, Government has taken a series of steps under the Open Market Sale Scheme (Domestic) [OMSS(D)]. A quantity of 101.5 LMT wheat at a subsidised price of Rs. 2150/quintal has been allocated for calibrated release into the domestic open market by the FCI, through weekly e auctions. Additional 25 LMT can be offloaded under OMSS during Jan-Mar 2024, depending on requirement. So far, 80.04 LMT has been offloaded by FCI to processors through weekly e-auctions, and this has increased availability of wheat into the open market at affordable prices, benefitting general consumers across the Country.

FCI is also issuing wheat to Central Co-operative organizations like NAFED, NCCF and Kendriya Bhandar for processing into atta and for sale under ‘Bharat Atta’ brand through their physical/mobile outlets, at an affordable price of Rs 27.50/kg. Areas where prices are reigning higher have been identified, and the agencies are undertaking targeted sales in these areas. 7.5 LMT of wheat has been allocated for converting into Atta and sale under ‘Bharat Atta’ brand.  The allocations to NAFED/NCCF and Kendriya Bhandar are being reviewed periodically to ensure sufficient availability.

All wheat stocking entities are required to

Agribusiness, Agrotech, Collaborations, Company News, Farm Mechanisation, Machinery - Pre-harvesting

Mahindra will manufacture and distribute the SMART Seeder Mini-MAX™ in collaboration with Clean Seed, as per the agreement.

Clean Seed Capital Group Ltd announced the signing of a definitive Technology License and Manufacturing Agreement with Mahindra and Mahindra Limited wherein Mahindra will manufacture and distribute the SMART Seeder Mini-MAX™ in collaboration with Clean Seed.

Following the establishment of the Memorandum of Understanding on January 24th 2023, Clean Seed and Mahindra have engaged in a steadfast and diligent collaborative process to develop and finalize this comprehensive, worldwide, licensing, manufacturing and global supply agreement for the innovative SMART Seeder Mini-MAX™.

The primary objective of this strategic alliance transcends mere business transactions; its overarching goal is to significantly influence the agricultural sector, starting with a commitment to India. Together, we aspire to establish economic and environmental performance benchmarks in agriculture by enhancing yields to tackle global food security challenges, reducing input costs, prioritising water conservation, safeguarding agricultural soils from further degradation, and enhancing key environmental outcomes by eliminating extreme tilling and long entrenched stubble burning practices, mentioned the company.

Graeme Lempriere – Chief Executive Officer of Clean Seed stated “It is with great pride that I announce the successful execution of our definitive agreement with Mahindra and Mahindra. The collaborative efforts with Mahindra and all stakeholders have been genuinely inspiring. The unwavering commitment from both parties to conclude this agreement has charted a course that promises to make a profound impact on the agricultural landscape both in India and globally. We are honoured to be part of this transformative journey alongside the esteemed organization that is Mahindra. We extend our heartfelt thanks to all the individuals involved on the ground in India and to our dedicated team at home, who have invested an extraordinary amount of time and effort to bring this agreement to a definitive conclusion.”

Kairas Vakharia, Senior Vice President and Business Head – Farm Machinery, Mahindra & Mahindra Ltd. said “At Mahindra we are delighted to partner with Clean Seed, a leading seeding and planting technology player in growing our farm machinery portfolio. Jointly developed and tested the SMART Seeder MINI-MAX™ is expected to drive input reduction and sustainable farming.”

Mahindra will manufacture and distribute the SMART

Agribusiness, AgroPolicy, Agrotech, Collaborations, Company News, Horticulture, India

The partnership aims to support potato farmers in enhancing crop productivity and quality to gain acceptance for produce in the market.

Yara India, a subsidiary of Yara International and the world’s leading crop nutrition company, has signed an MoU with the Department of Horticulture and Food Processing, Government of Uttar Pradesh. The MoU was signed by Vinaya Kumar Sharma, Head Commercial, Yara India, at the 2nd International Conference and Buyer-Seller Meet in Agra on February 04, 2024. The strategic partnership aims to support potato farmers in enhancing crop productivity and quality to gain acceptance for produce in the market. The primary objective is to introduce them to emerging digital technologies and building their capacity for higher efficiency and sustainability in farming practices.

Following the MoU signing, Dr Atul Kumar Singh, Director- Horticulture and Food Processing Department, Uttar Pradesh, visited Yara’s Knowledge Grows Centre (YKGC) in Agra, which serves as a centre of excellence, fostering development and enhancing the best farming practices. During the visit, officials from the Department of Horticulture and Food Processing, Government of Uttar Pradesh, and the leadership team of Yara India interacted with potato farmers and toured four demo potato plots, which showcased the efforts Yara has made to enhance crop productivity and contribute to farmers’ livelihood.

Speaking on the occasion, Sanjiv Kanwar, Managing Director, Yara South Asia, said, “We are excited to partner with the Department of Horticulture and Food Processing, Government of Uttar Pradesh, on this transformative journey towards enhancing the productivity and profitability of potato farmers in the region. Our collaboration is focused on building an ecosystem that supports and uplifts the livelihoods of our farmers, while also revolutionising food systems for a healthier and more resilient future. We are committed to working closely with other value chain players, from seed to final output companies, along with our team of Yara Agronomists, to introduce digital innovations such as our newly revamped FarmCare app and improve food quality.”

Dr Atul Kumar Singh, Director- Horticulture and Food Processing Department, Uttar Pradesh, said, “Yara India’s partnership with the Department of Horticulture and Food Processing, Government of Uttar Pradesh, is a significant step towards empowering potato farmers in the region. This partnership will introduce farmers to cutting-edge digital technologies and innovative solutions that will significantly enhance crop productivity and quality, thereby contributing to the overall prosperity of the farmers and their families. The Yara Knowledge Grow Center in Agra is an excellent platform for developing and enhancing the best farming practices, and we are confident that our farmers will benefit greatly from the knowledge and expertise shared by Yara’s team of agronomists.”

Yara Knowledge Grow Center (YKGC) in Agra is a center of excellence for developing and enhancing the best farming practices. The YKGC serves as a platform for conducting physical meetings and actively engages with the local community by conducting regular training programs for farmers.

The partnership aims to support potato farmers

Agribusiness, Agrotech, Collaborations, Company News, Digital Technologies, Finance, India, Start ups

Unnati will extend channel financing solutions in collaboration with its NBFC partners including its subsidiary Ora Finance to over 76,000 channel partners across India associated with IFFCO.

Unnati Agri, an agriculture supply chain and financial services startup, announced one of its kind collaborations with IFFCO, the largest agriculture company in India. This strategic tie-up aims to provide channel financing solutions to the various segments of channel partners of IFFCO, empowering them to enhance their business operations and meet the needs of their farmer customers effectively.

Under this partnership, Unnati will extend channel financing solutions in collaboration with its NBFC partners including its subsidiary Ora Finance to over 76,000 channel partners across India associated with IFFCO. These channel partners will now have access to credit facilities that they can utilize to increase their business potential. By availing of this credit facility, they can procure larger quantities of stock from IFFCO, enabling them to deliver the right quality products to their farmer customers at the right time.

Ashok Prasad, Co-Founder, Unnati said, “At Unnati, our focus has always been to provide the best digitally enabled services to the farmers across the country. This is exactly why we are absolutely thrilled to join hands with IFFCO to provide channel financing solutions to their extensive network of channel partners. The new tie-up will empower these partners to unlock their full potential and contribute to the growth of the agriculture sector in India.”

The credit facility offered through this collaboration is completely digital and designed to provide easy access to short-term credit for the customers of IFFCO. This digital platform ensures a seamless and efficient way for channel partners to apply for and manage the credit facility, streamlining the process and reducing paperwork.

Ranjeesh Pandey, Chief Marketing Manager of IFFCO, expressed his excitement about this collaboration by stating, “We at IFFCO are working on a mission mode to support farmers and channel partners to adopt new innovative technology-based Fertilizer I.e.Nano Urea and Nano DAP, Sagarika and other new bio products which will support in reducing chemical fertilizers in farming and will also increase and improve the productivity of farmers. The credit facility provided by Unnati through its NBFC partners will support in implementing the Nano Fertilizer game-changer technology in Agriculture. It will not only enable retailers and IFFCO Channel partners to expand their business in the Nano Fertilizer and speciality Fertilizer sector of IFFCO but will also help us to meet the growing demands of farmers about Nano Fertilizer. We feel that such opportunities are good for the farmers and will support technology infusion in our agriculture sector. Initially it has been decided to start in UP, Bihar, Maharashtra, Telangana, Andhra Pradesh.

Unnati will extend channel financing solutions in

Agribusiness, Agrotech, Biofuel industry, Company News, Finance, India

Company reports Rs 8,286.226 million incomes from operations in Q3 FY24.

Praj Industries (Praj) announced its unaudited financial results for the quarter and nine months ended Dec 31, 2023. Income from operations stood at Rs. 8,286.226 million (Q2 FY24: Rs. 8,823.685 million; Q3 FY23: Rs ,114.647 million). Company’s Profit Before Tax stood at Rs 919.217 million for the period (Q2 FY24: Rs. 848.121 million; Q3 FY23: Rs. 858.997 million).  Profit After Tax is at Rs. 704.143 million (Q2 FY24: Rs. 623.679 million; Q3 FY23: 623.113 million). Order intake during the quarter Rs 10,370 million (Q2 FY24: 10,630 million; Q3 FY23: Rs. 9,440 million) 

Performance Review for 9M FY24 ‐ Consolidated:

  • Income from operations stood at Rs. 24,477.138 million (9M FY23: Rs. 25,240.533 million) 
  • PBT is at Rs. 2,544.371 million for the period (9M FY23: Rs. 2,059.116 million)
  • PAT is at Rs. 1,914.548 million (9M FY23: Rs. 1,517.031 million)
  • Order intake Rs. 32,010 million (9M FY23: Rs. 30,190 million)

The consolidated order backlog as on December 31, 2023 stood at Rs 39,500 million which comprises of 75 per cent domestic orders and 25 per cent international orders.

Commenting on the Company’s performance, Shishir Joshipura, CEO & MD, Praj Industries said, “The quarter saw positive business development in new growth areas identified.  The policy restriction on the use of sugar syrup as feedstock created a near‐term challenge in the market. Praj has already developed solutions for mitigating the feedstock challenge for our customers and we are confident that these solutions will help restore the opportunity next year.  Our Mangalore facility is developing along the planned lines and the business pipeline to feed this facility is also growing stronger.”

Company reports Rs 8,286.226 million incomes from

Agrotech, Company News, Start ups

This partnership aims to empower Farm-to-Fork Agri startups In Egypt with Ninjacart’s technology and expertise, fostering innovation and growth in Egypt’s AgriTech sector

Entlaq, a Cairo-based entrepreneurship think tank has forged a strategic alliance with Ninjacart, India’s leading agri-startup that leverages technology and data to organise the agriculture ecosystem. This alliance focuses on identifying and supporting promising Farm-to-Fork Agri startups in Egypt, providing them with Ninjacart’s cutting-edge tech platform, supply chain management solutions and specialized advisory services.

The partnership specifically focuses on efficient supply chain management through advanced technology, connecting farmers directly to markets in Egypt. It also emphasizes implementing data-driven agriculture, ensuring quality assurance and certification, fostering financial inclusion across the Agri value chain, expanding marketplaces, and reducing waste.

Ninjacart’s expansion into Egypt under its global initiative, NinjaVentures, underscores the company’s dedication to identifying startups in Egypt that align with its business model. Through this partnership, Ninjacart strives to drive non-linear growth in the Egyptian Agri sector, prioritizing innovation, sustainability, and efficiency. Ninjacart’s distinguished NinjaVentures initiative is an ambitious global endeavour dedicated to extending Ninjacart’s technological expertise, knowledge, and skills to emerging startups in various countries aiming to revolutionize agricultural supply chains.

Kartheeswaran K K, Co-Founder & CEO, Ninjacart said “This partnership between Entlaq and Ninjacart is a clear testament to Ninjacart’s dedication to global agricultural transformation. We’re genuinely excited to leverage Ninjacart’s technological prowess to empower Egyptian startups, catalysing innovation, and fostering growth. With a mission to build the most trusted, efficient, and inclusive AgriTrade Network, we collaborate with startups worldwide, generously sharing our technological expertise. This strategic alliance with Entlaq marks a significant milestone as we extend our commitment to drive positive change in the Egyptian Agri-Startup ecosystem”

Omar Rezk, Co-founder and Managing Director of Strategy and Consulting, Entlaq said “Our collaboration with Ninjacart marks a transformative step for Egypt’s agritech ecosystem, driven by our deep belief in technology’s potential to reshape agriculture. We are truly excited about the opportunities this partnership opens for startups, crucial to fostering economic growth in Egypt. With the agriculture sector employing 29.2 per cent of the workforce and contributing 11.3-13.6 per cent to the GDP (approximately EGP 400 billion), the scope for agritech is vast. Entlaq’s vision is to catalyse Egypt’s position as a regional innovation hub, empowering startups and contributing significantly to the thriving agritech landscape. This collaboration with Ninjacart has set us on the track to achieve this goal promising a future characterized by technological innovation, operational efficiency, and sustainable growth achieving Egypt’s 2030 Vision.”

This partnership aims to empower Farm-to-Fork Agri

Agribusiness, Company News, Dairy, Finance, Funding, India

This exit adds to Orios Venture Partners’ track record of successful returns to investors further solidifying its position as a leading investor in India-focused startups.

Orios Venture Partners, India’s leading early-stage Venture Capital Fund, proudly announces its successful partial exit from portfolio company Country Delight, achieving remarkable returns equivalent to 45X of its initial investment.

The exit underscores the value in Orios’ strategy of identifying the best companies and investing in them early. When making the investment back in 2017, Orios had built a thesis on subscription commerce and had as part of the sector study met with 40+ companies before selecting Country Delight. Orios still holds the majority of its investment stake from Fund I in the company.

This exit adds to Orios Venture Partners’ track record of successful returns to investors further solidifying its position as a leading investor in India-focused startups.

Founded in 2013, Country Delight stands as India’s premier “Good for You” food essentials brand, with an innovative tech-first direct-to-home model. Originating with a focus on fresh dairy products, the company has rapidly expanded its offerings to encompass a diverse range of daily consumables such as bread, eggs, ghee, fruits, vegetables, and more, all produced under its brand. The company has experienced exponential growth since its inception, raising a total of 9 funding rounds and achieving a valuation of $820 million in its latest funding round.

Rehan Yar Khan, Managing Partner at Orios Venture Partners, commented on the exit, stating, “We have always worked hard to identify the very best companies at early stages to invest in. We look at between 4000 to 5000 companies in a year to invest in 10. We have been doing this since 2008, first as private investors and then since 2014 as an AIF fund. The same process also led to the identification of Ola and Druva. We believe exceptional founders in large spaces can build special companies. With Country Delight, it has been an honor and great learning experience to watch Chakradhar & Nitin build the company, from a single product to over 140 products.”

“Orios has been the earliest believer in Country Delight. We are thrilled to have given a partial exit to Orios at a 45x return and continue to be excited about their support and belief in the business”, said Chakradhar Gade, CEO, and Co-founder Country Delight.

This exit adds to Orios Venture Partners'

Agribusiness, Agro chems – Chemicals, Agro chems – Fertilizers, Company News, India, Inputs

With the new plants, the company’s capacity for phosphoric acid will increase by 750 tonnes per day, while that of sulphuric acid will go up by 1,800 tonnes per day.

Agrochemicals major Coromandel International announced that company’s Board of Directors has approved a proposal to set up new phosphoric acid and sulphuric acid plants at Kakinada in Andhra Pradesh with an investment of Rs 1,029 crore. The proposal was approved at the board meeting held on January 30, Coromandel International said in a stock exchange filing.

With the new plants, the company’s capacity for phosphoric acid will increase by 750 tonne per day, while that of sulphuric acid will go up by 1,800 tonne per day. Currently, the company has a capacity of 1,550 tonne per day for phosphoric acid and 4,200 tonne per day for sulphuric acid.

The funding for these ventures will be sourced through internal accruals and loans, with the primary objective of reducing the reliance on imports and transforming Kakinada into an integrated facility. However, the expansion of backward integration capabilities is contingent upon securing regulatory approvals.

Coromandel’s strategic investment aligns with its long-term goals of ensuring a stable supply of crucial raw materials for fertiliser production. The anticipated benefits include enhanced cost efficiencies, improved raw material security, and a contribution to the government’s vision of Atma Nirbhar Bharat.

With the new plants, the company's capacity

Agro chems – Fertilizers, AgroPolicy, India

The approval will provide additional capital to the various Fertilizer (Urea) Units for the component of marketing margins paid by them on procured domestic gas.

The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval for determination of Marketing Margin on supply of domestic gas to Fertilizer (Urea) Units for the period from May 1, 2009, to November 17, 2015.

This approval is a structural reform. Marketing Margin is charged by gas marketing company from consumers over and above the cost of gas for taking on the additional risk and cost associated with marketing of gas. Government had previously determined marketing margin on supply of domestic gas to urea and LPG producers in 2015.

The approval will provide additional capital to the various Fertilizer (Urea) Units for the component of marketing margins paid by them on domestic gas procured during the period 01.05.2009 to 17.11.2015, based on rates already being paid from 18.11.2015 onwards.

In line with government vision of AatmaNirbhar Bharat, this approval will incentivize manufacturers to increase investment. The increased investment will lead to self-sufficiency in fertilizers and provide an element of certainty for future investments in gas infrastructure sector.

The approval will provide additional capital to

Agribusiness, Company News, Farm Mechanisation, Finance, India

Company’s total tractor sales (Domestic + Exports) during January 2024 were at 23948 units, as against 28926 units for the same period last year.

 Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, announced its tractor sales numbers for January 2024. Domestic sales in January 2024 were at 22972 units, as against 27626 units during January 2023. Total tractor sales (Domestic + Exports) during January 2024 were at 23948 units, as against 28926 units for the same period last year. Exports for the month stood at 976 units.

Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said “We have sold 22972 tractors in the domestic market during January 2024. Retail momentum slowed down on account of tapering of agricultural activities. Rabi crop output is expected to be good with prevailing cold conditions helping the key crop of wheat. Government announcement of a good estimate of Horticulture production, and continued government support to boost rural economy will aid positive sentiments and support tractor demand in the coming months. In the exports market, we have sold 976 tractors.”

Company’s total tractor sales (Domestic + Exports)

Agribusiness, Company News, India, Oilseeds

The partners now commit to a third phase for the world’s first sustainable castor program.

BASF, Arkema, Jayant Agro-Organics and implementation partner Solidaridad launched the project in May 2016. For year seven the members officially updated the impacts of the program so far:

More than 7,000 farmers have been trained, audited, and certified.

Over 74,500 tons of certified castor seed have been cultivated.

Year 7 yield is 36 per cent higher than the yield published by the local government for this region.

Over 7,000 hectares are now being regularly farmed in accordance with the success sustainable castor code (see www.castorsuccess.org) – more than 27,000 hectares cumulatively; Pragati farmers are increasing their land dedicated to castor farming as it is seen as a profitable crop.

The partners have committed to Phase 3 of Pragati, comprising of three years, from 2023-2026. The next phase of the project will see continued attention being paid to sustainable farming with a special focus on greater female participation and improved water management techniques in the farming communities.

The project was driven by a baseline survey of more than 1,000 castor farmers in Gujarat, India, where most of the world’s castor supply originates. The original baseline study highlighted the fact that farmers see castor as a highly remunerative and profitable crop – easy to grow, and easy to sell.

The practices followed in the Pragati project have resulted in a lower water consumption compared to conventional practices. The data measured in the demo plots for these practices showed about 21 per cent less consumption of water.

Over 7,000 safety kits and crop protection product boxes have been distributed free of charge.

More than 100 medical camps organized in all project villages this year successfully conducted health monitoring of 8,500+ farmers, workers, and their family members, of which 65 per cent were farmers enrolled in the Pragati program.

Farmers from more than 100 villages in North Gujarat now participate in the program.

This year, more than 380 capacity-building training sessions were held with farmers.

Over 475 lead farmers have been identified and trained to guide certified farmer groups.

The goal of the project has been to enable sustainable castor crop production by:

Using good agricultural practices to increase yield and farmer income

Efficiently using water resources and maintaining soil fertility

Driving adoption of good waste management practices

Enabling better health and safety practices and respecting human rights

The partners now commit to a third