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Sunday / May 26. 2024

Narendra Pasuparthy, CEO & Founder, Nandu’s in exclusive conversation with AgroSpectrum shares his views on the current status of the meat sector in India.

Operating primarily in Bengaluru, Nandus operates nearly 50 stores in the city, adhering to an omnichannel model that encompasses in-store retail, home delivery, e-commerce website, app, call center orders, and various e-commerce platforms. In February 2023, Nandus reached the revenue milestone of Rs 100 crore, solidifying its position as India’s most successful and organised omnichannel meat retail brand. Poised to be a market leader in India’s growing meat retail industry, the company is set to expand its business-to-consumer (B2C) and D2C presence, further strengthening its operational foundation. Narendra Pasuparthy, Chief Farmer, CEO & Founder, Nandu’s in exclusive conversation with AgroSpectrum reveals the current status of the meat sector in India.

What is Nandu’s contribution to enhance the contract livestock farming sector in India?

A legislative framework governing agricultural agreements did not become effective until 2020, despite the fact that contract farming has been common in India for decades. This has cleared the way for more investments, the development of new markets, and improved financial stability for farmers in the cattle sector. We at Nandu’s think this teamwork strategy has great potential.

At Nandu’s, we’ve made it our mission to provide the farming community with a reliable means of subsistence ever since we opened our doors in 2016. At this time, 300 farmers are dedicated to working just with Nandu’s. Regardless of fluctuations in the market or other factors impacting production efficiency, our farmers are protected by integration farming contracts, which guarantee that they will not incur any risk.

The farmers contribute their work and infrastructure, and Nandu’s covers all the costs of chocks, chicken feed medications, and veterinarian support, so that the farmers’ community can be economically stable. It’s mutually beneficial. With proper implementation, contract farming has the potential to greatly increase productivity while safeguarding farmers’ interests.

Do you feel that contract farming will change the entire ecosystem of livestock farming in India by infusing more tech driven solution into this sector?

I believe that technology plays a significant role. Smart automation, improved inventory management, and data-based decision-making are three areas that have seen a technological explosion in recent years. Our capacity to offer full product traceability across the whole supply chain, from chicken rearing to final customer delivery, is a direct result of the technological advancements made possible by our farm-to-fork meat brand management.

But we don’t think tech-driven solutions will cause the ecosystem to undergo its most significant transformation. It everything comes down to people. An increasingly important part of India’s agricultural economy, the poultry business employs almost three million people.

Due to their lack of financial stability, many farmers experienced severe economic hardship and the loss of their livelihood during the epidemic. One way to offer such safety net is through contract farming. Despite the stress caused by the pandemic, our farmers report that their work is easier and more financially gratifying now. And that impacts every part of the ecology.

What are the major challenges livestock farmers face while enrolling in for contract farming?

The farmers’ biggest obstacle is getting over their aversion to collaborating with big corporations like Nandu’s. But we’ve found that farmers like it when you’re forthright and honest in your interactions with them, and when you truly care about what’s best for them.

A high mortality rate and low productivity are the results of working with low-quality chicks and feed, which most independent livestock farmers use. This puts their entire investment at danger. No matter how many hours a farmer puts in, this has an unpredictable effect on their yield, their profit, and their ability to provide for their families.

In addition to providing farmers with high-quality feed, chicks, and technical assistance for chicken growth, Nandu’s also offers intensive training in good farming practices, prompt veterinary services, and state-of-the-art technology to track flocks and outputs.

What inputs are required for the growth of contract livestock farming in India?

At Nandu’s, we take great care to partner with farmers that share our values and are committed to doing what’s right so that our business can thrive. We give them the technical and veterinary help they need in a timely manner and work closely with them. Our chicks are of such high quality that we spare the farmers any unnecessary stress, allowing them to focus on improving their operations and increasing their output. Thanks to our flocks’ exceptional performance, our farmers are able to increase their annual crop yield, which in turn boosts their income. Neither unreasonable requests nor hasty judgements have been made. In order to accomplish our common objectives, we collaborate.  We do all of this on a regular basis so that the contract farming sector in India may have the feed it needs to expand.

Aside from this, looking at the bigger picture, this industry needs specific advancements in order to grow. Contract farming can only be successful with well-developed infrastructure, which includes transportation networks, cold storage, processing facilities, and farm facilities. Enhancing efficiency, decreasing post-harvest losses, and guaranteeing the quality and safety of animal products can be achieved through investments in infrastructure development. Farmers that engage in contract farming must have easy and affordable access to banking and credit services. Credit for inputs, working capital, and infrastructure investment are just a few examples of the unique financial products and services that banking institutions could create for contract farmers.

What are the growth strategies and plans of the company for FY 24-25?

The expansion of Nandu’s India’s network of contract farmers will be the primary emphasis of the company in order to further boost the inventory of livestock goods. The identification of new regions for contract farming partnerships, the recruitment of additional farmers into its network, and the provision of training and support to those farmers are all potential steps in this direction. Utilising new livestock products or value-added products, the company will investigate the possibility of diversifying its product line through the introduction of new items. Investing in technology and innovation will be a top priority for Nandu’s India in order to improve efficiency, improve product quality, and reduce costs. One example of this would be the implementation of digital solutions for farm management, the adoption of precision farming techniques, or the investment in research and development for new technology. The organisation is going to make efforts to optimise its supply chain in order to enhance its efficiency, decrease its expenses, and guarantee that products will be delivered on time. Streamlining logistics processes, making investments in cold chain infrastructure, and putting inventory management systems into place are all potential steps in this direction.

By Nitin Konde

Narendra Pasuparthy, CEO & Founder, Nandu's in

The AI anchors can speak in fifty languages of the country and abroad.

Doordarshan is going to achieve another milestone as after 9 years of immense success, DD Kisan is coming with a new look and a new style among the farmers of India on 26th May 2024, where the presentation of the channel is going to be in a new avtar.

In this era of ‘Artificial Intelligence’, Doordarshan Kisan is going to become the first government TV channel of the country, where all eyes are going to be on an AI anchor. Doordarshan Kisan is going to launch two AI anchors (AI Krish and AI Bhoomi). These news anchors are a computer, which are exactly like a human, or rather, these can work like a human. They can read news 24 hours and 365 days without stopping or getting tired.

The farmer viewers will be able to see these anchors in all the states of the country from Kashmir to Tamil Nadu and from Gujarat to Arunachal, these AI anchors will provide every necessary information about agricultural research happening in the country and global level, trends in agriculture mandis, changes in the weather or any other information of government schemes. One special thing about these anchors is that they can speak in fifty languages ​​of the country and abroad.

Some special facts included in the objectives of DD Kisan-

DD Kisan is the only TV channel in the country, which has been established by the Government of India and dedicated to the farmers. This channel was established on 26 May 2015.

The objective of establishing DD Kisan Channel was to always keep the farmers informed about the changes in weather, global and local markets etc., so that farmers can make appropriate plans in advance and take right decisions on time. DD Kisan Channel is meeting these standards for the last 9 years.

DD Kisan channel is also working to bring forward the efforts of progressive farmers to all the people, with the aim of serving the agricultural and rural community in the country and working towards creating an environment of holistic development by educating them.

DD Kisan channel is strengthening the three-dimensional concept of agriculture which includes balanced farming, animal husbandry and plantation.

The AI anchors can speak in fifty

Highest wheat procurement contribution from Punjab, Haryana, Madhya Pradesh, Rajasthan and Uttar Pradesh.

Procurement of Wheat during RMS 2024-25 is going on smoothly in the major procuring States across the country. 262.48 LMT of wheat has already been procured so far this year in Central Pool surpassing last year’s total procurement of 262.02 LMT.

A total of 22.31 lakh farmers have been benefitted during RMS 2024-25 with total MSP outflow to the tune of Rs. 59,715 crores. Major contribution in the procurement came from five procuring states Viz. Punjab, Haryana, Madhya Pradesh, Rajasthan and Uttar Pradesh with procurement of 124.26 LMT, 71.49 LMT, 47.78 LMT, 9.66 LMT and 9.07 LMT respectively.

The rice procurement is also progressing smoothly. 728.42 LMT paddy equivalent to 489.15 LMT of rice has been so far procured directly from 98.26 Lakh farmers during KMS 2023-24, with total MSP outflow of approx. Rs. 1,60,472 crores.

With above quantity of procurement, the combined stock of wheat and rice at present in Central Pool surpassed 600 LMT which puts the country in a comfortable position to meet out its requirements of food grains under PMGKAY and other welfare schemes and for market interventions too.

Highest wheat procurement contribution from Punjab, Haryana,

Herbicides have emerged as the leading export segment, experiencing the fastest growth at 23 per cent CAGR from FY2019 to FY2023.

The Indian agrochemicals industry is projected to clock a robust compound annual growth rate (CAGR) of nine per cent from FY2025 to FY2028, driven largely by government support, expanding production capacities, a flourishing domestic and export market, and a steady stream of innovative products, a report by Rubix Data Sciences, a leading risk management and monitoring company, mentioned.

This steady growth will propel the market size of the Indian agrochemical industry to $14.5 billion by FY28 from the current levels of around $10.3 billion.

The report also said that India’s agrochemicals exports registered a strong 14 per cent CAGR from FY2019 to FY2023, reaching $5.4 billion in FY2023.

“This impressive export growth stands in stark contrast to imports, which registered a more moderate 6 per cent CAGR during the same period, thus solidifying India’s position as a net exporter,” the report said.

The report mentioned that within the agrochemicals sector, herbicides have emerged as the leading export segment, experiencing the fastest growth at 23 per cent CAGR from FY2019 to FY2023.The share of herbicides in total agrochemical exports increased from 31 per cent to 41 per cent during the same timeframe. The report said that the Indian agrochemicals export landscape reveals a growing concentration in key markets. The top five countries (Brazil, USA, Vietnam, China, and Japan) now account for nearly 65 per cent of India’s agrochemical exports, up from 48 per cent in FY2019.

India’s domestic agrochemicals usage currently totals a mere 0.6 kg per hectare, which is a fraction compared to the Asian average (3.6 kg/ha) and a mere quarter of the global average (2.4 kg/ha).

The report said, “This low utilisation signifies immense potential for market expansion in the coming years, presenting a fertile ground for industry growth,” It, however, added that the road ahead for the sector is not without its fair share of challenges.

“Global economic uncertainties pose a risk, as do intensifying competitive pressures from established players like China. Climate change further complicates the equation, with unpredictable monsoons disrupting agricultural patterns and impacting crop yields,” the report mentioned.

Herbicides have emerged as the leading export

Pusa Basmati 1979 and Pusa Basmati 1985 are the first non-GM herbicide tolerant Basmati rice varieties tolerant to Imazethapyr 10% SL to be released for commercial cultivation in India.

Pusa Institute, New Delhi launched the seed sale of RobiNOweed Basmati Rice Varieties namely, Pusa Basmati 1979 and Pusa Basmati 1985 tolerant to Imazethapyr 10% SL for Direct Seeded Rice cultivation. Speaking on the occasion, Dr Ashok Kumar Singh, the Director, IARI, New Delhi highlighted that the major concerns in rice cultivation in north- western India include (a) depleting water table (b) labor scarcity for transplanting of rice and (c) the emission of greenhouse gas, methane under transplanted flooded condition. Direct seeded rice can address all these concerns. DSR reduces water usage significantly compared to traditional flooding method due to no continuous flooding, targeted water application, lower percolation losses, and decreased evaporation. Studies suggest DSR can save approximately 33 per cent of the total water requirement making it a sustainable choice, particularly in water scarce regions.

However, weeds are a major problem under DSR which needs to be addressed in order to ensure the success of DSR. In this direction, concerted research at ICAR-IARI, New Delhi has led to the development of two RobiNOweed Basmati rice varieties, Pusa Basmati 1979 and Pusa Basmati 1985 which are the first non-GM herbicide tolerant Basmati rice varieties tolerant to Imazethapyr 10% SL to be released for commercial cultivation in India.

Pusa Basmati 1979

Pusa Basmati 1979 is a MAS derived herbicide tolerant near-isogenic line of Basmati rice variety “PB 1121” possessing mutated AHAS allele governing tolerance to Imazethapyr 10 per cent SL with seed-to-seed maturity of 130-133 days and average yield of 45.77 q/ ha under irrigated transplanted condition across two years of testing in the National Basmati trials.

Pusa Basmati 1985

Pusa Basmati 1985 is a MAS derived herbicide tolerant near-isogenic line of Basmati rice variety “PB 1509” possessing mutated AHAS allele governing Imazethapyr tolerance with seed-to-seed maturity of 115-120 days and average yield of 5.2 t/ha under irrigated transplanted condition across two years of testing in the National Basmati trials.

He elaborated extensively on the package of practices tailored for these two rice varieties when cultivated under Direct Seeded Rice (DSR) method. He stressed the importance of adopting necessary precautions for effective weed management in these crops. Given their tolerance to the broad-spectrum herbicide Imazethapyr 10 per cent SL, these varieties are poised to revolutionize weed control in DSR, thereby streamlining the cost of Basmati rice cultivation. Moreover, these varieties not only reduce the labour-intensive processes associated with weeding but also mitigate the environmental impact of traditional rice cultivation methods. This underscores their potential to contribute significantly to sustainable agriculture practices and the overall well-being of the agricultural ecosystem.

Dr. P.K. Singh, Commissioner of Agriculture at the Ministry of Agriculture and Farmers Welfare, Government of India, underscored the importance of these varieties and appreciated the contribution of IARI in bringing improvements in the varietal traits targeted towards saving water, increasing yield with better climate resilience.

Dr D.K. Yadav, ADG(Seeds) at ICAR in New Delhi, emphasized the boon these two Basmati rice varieties would represent for farmers in the Basmati GI area. He highlighted the paramount importance of seeds as the primary input for crop cultivation.

Notably, IARI Basmati rice varieties hold a staggering 95 per cent share in the country’s total Basmati rice exports, which amounts to a whopping 51,000 crores. Dr Yadav urged farmers to actively promote these improved varieties to safeguard the food security of the nation. As a tangible step forward, seeds of these varieties were given to four farmers hailing from Haryana, Punjab, Delhi, and Uttar Pradesh. The other interested farmers were provided the seeds of these varieties from SPU on payment basis at a nominal price.

Pusa Basmati 1979 and Pusa Basmati 1985

These hubs will focus on global employment in drones, IoT, agriculture, and allied sectors.

The National Skill Development Corporation (NSDC) and AVPL International have signed a Memorandum of Understanding (MoU) to establish 70 Skills and Incubation Hubs across India. These hubs will focus on global employment in drones, IoT, agriculture, and allied sectors. This initiative aims to enhance vocational training and skill development, positioning India as a leader in global skill development.

Ved Mani Tiwari, CEO of NSDC, expressed excitement about the partnership, highlighting the advanced training facilities and globally recognized certification programs it will bring to the youth. AVPL International will upgrade 50 existing training facilities to Global Skills and Incubation Hubs (GISH) across 12 Indian states. These hubs will offer certificate courses from prestigious institutions like IITs and IIMs and dual certification programs with international accreditation bodies through NSDC International.

Deep Sihag Sisai, Founder and Managing Director of AVPL International, emphasised the transformative impact of this initiative, aiming to uplift the local workforce and set a new benchmark in drone, IoT, agriculture, and allied sector training. The comprehensive training programmes will target 1,40,000 candidates annually, providing them with IIT-certified courses and internationally recognised accreditations.

The agreement underscores the shared vision of NSDC and AVPL International to drive skill development and foster economic growth through enhanced training and education.

These hubs will focus on global employment

In FY 2023-24, the Company’s Revenue from Operations remained flat at Rs 51,032 million, compared to Rs 51,397 million in the previous year.

Bayer CropScience Limited announced its results for the financial year (FY) and quarter ended March 31, 2024. In FY 2023-24, the Company’s Revenue from Operations remained flat at Rs 51,032 million, compared to Rs 51,397 million in the previous year. Profit Before Exceptional Items & Tax stood at Rs 9,414 million, compared to Rs 8,863 million in the previous year, representing an increase of 6 per cent.

In Q4 of FY 2023-24, the Company registered Revenue from Operations of Rs 7,915 million, compared to Rs 9,825 million in the corresponding quarter of the previous year. Profit Before Exceptional Items & Tax for the quarter stood at Rs 1,054 million, compared to Rs 1,921 million in the corresponding quarter of the previous year.

Commenting on the quarterly results, Simon Wiebusch, Vice Chairman/Managing Director and CEO, Bayer CropScience Limited said, “Despite weather challenges and lower reservoir levels affecting crop protection volumes, our performance remained resilient. While revenue from operations witnessed a decline owing to Roundup™ price developments and proactive channel management, our corn seeds business continued its growth trend. Prudent spending kept operational expenses flat. We remain positive on the overall agricultural landscape in India and reconfirm our commitment to sustainable growth which entails dealing with the cyclical nature of our business proactively.”

Speaking on the FY results, Simon Britsch, Chief Financial Officer, Bayer CropScience Limited said, “Our full-year performance reflects our fortitude amidst market shifts and extreme weather events. Despite challenges such as higher material cost, our strategic focus on channel inventory has ensured sustained market outperformance. Our proactive cost management also helped bolster our bottom line. With operational expenses lowered and a strong bottom line to show for it, we stand poised for continued growth and success.”

In FY 2023-24, the Company’s Revenue from

Company is preparing to launch the Krishak V2 in the market, with plans to make it available to farmers across the country.

General Aeronautics Pvt Ltd (GAPL) has announced that company has achieved a significant milestone with its latest agri drone, the Krishak V2, receiving DGCA type certification. This certification marks a major step forward in the field of agricultural technology, as the Krishak V2 is set to revolutionise traditional farming practices.

Company mentioned the specifications of the Krishak V2 Drone. The Krishak V2 is a medium-category drone, weighing about 49.30 kgs and capable of flying at a maximum height of 98.43 feet. It boasts a range of advanced features designed to enhance agricultural efficiency and productivity. These features include Active Sense & Avoid for autonomous flying, best in class endurance with more than 6 acres per battery charge, Real-time monitoring, Over-the-Air software update capability, Higher accuracy, Precision Agriculture Ready with Variable Rate Technology, Advanced Path-Planning for complete spray coverage, and Smart Tamper-proofing integration, among others.

 The company mentioned that with the Krishak V2, we aim to transform conventional agricultural practices by providing farmers with cutting-edge technology that enhances productivity and efficiency. The DGCA certification is a testament to our commitment to innovation and excellence in the field of agricultural technology.

GAPL also stated that the Krishak V2 will help farmers improve their yields while reducing the environmental impact of farming practices. GAPL is now preparing to launch the Krishak V2 in the market, with plans to make it available to farmers across the country. The company is also exploring opportunities to expand its reach internationally. 

Company is preparing to launch the Krishak

Aramax Intrinsic brand fungicide has been approved by the EPA to provide plant health benefits, such as helping to improve turf stress tolerance.

BASF is introducing Aramax™ Intrinsic® brand fungicide, a dual-active fungicide that delivers broad-spectrum control of 26 cool- and warm-season turf diseases, like snow mold, large patch, brown patch and dollar spot on golf course fairways.

Aramax Intrinsic brand fungicide combines the strength of two powerful active ingredients, pyraclostrobin and triticonazole, for long-lasting residual disease control up to 28 days.

“Aramax Intrinsic brand fungicide adds to our strong portfolio of fungicides at a value price on fairways when compared to our Honor Intrinsic and Navicon Intrinsic brand fungicides,” said Jeff Vannoy, Senior Product Manager, Turf Solutions for BASF. “We are also equally excited to be entering the snow mold and large patch markets for the very first time and can’t wait for customers to see the outstanding results.”

In addition to providing excellent disease control, Aramax Intrinsic brand fungicide has been approved by the EPA to provide plant health benefits, such as helping to improve turf stress tolerance and help enhance growth efficiency, resulting in healthier playing surfaces all season long.

Aramax Intrinsic brand fungicide has been approved

  Through this partnership, AGCO intends to leverage Innova’s expertise in identifying and supporting high-potential startups at the forefront of agricultural technology.

AGCO a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, today announced its recent investment in the Innova Ag Innovation Fund VI of venture capital firm, Innova Memphis. This fund investment is the first executed by AGCO’s recently launched corporate venture capital initiative, AGCO Ventures. The deal aligns with AGCO’s approach to support the next generation of farming through advanced solutions that promise a more automated, digitized and sustainable future for agriculture.

AGCO announced its recent investment in the Innova Ag Innovation Fund VI of venture capital firm Innova Memphis. The deal aligns with AGCO’s approach to support the next generation of farming through advanced solutions that promise a more automated, digitized and sustainable future for agriculture.

AGCO announced its recent investment in the Innova Ag Innovation Fund VI of venture capital firm Innova Memphis. The deal aligns with AGCO’s approach to support the next generation of farming through advanced solutions that promise a more automated, digitized and sustainable future for agriculture. Through this partnership, AGCO intends to leverage Innova’s expertise in identifying and supporting high-potential startups at the forefront of agricultural technology.

The Innova team is renowned for its focus on nurturing early-stage startups revolutionizing agriculture.

“This partnership enables us to tap into the latest innovations in the field. We are excited to announce our investment in Innova Ag Innovation Fund VI, a move that reflects our unwavering commitment to pushing the boundaries of what’s possible in agriculture,” said Seth Crawford, AGCO Senior Vice President and General Manager, PTx. “This partnership enables us to tap into the latest innovations in the field, from automation and digitization to sustainability and efficiency, ensuring that we continue to provide our customers with the most advanced and effective solutions on the market.”

“We are immensely proud to partner with AGCO, a true leader in the agricultural sector, whose commitment to innovation and sustainability mirrors our own,” said Dean Didato, a partner at Innova. “This collaboration represents a unique synergy between AGCO’s industry expertise and our vision for a technologically advanced farming future and revitalized rural economies. Together, we are set to empower the brightest minds in agriculture, driving transformative solutions that promise to enhance farm productivity and profitability and secure a sustainable future for our planet.”

  Through this partnership, AGCO intends to

By 2026, ambitious target to recover over 300 thousand hectares of degraded land in Cerrado Brazil and regenerate agricultural soils in China.

Syngenta Group, the leading global agriculture technology company, and The Nature Conservancy (TNC), a world-wide conservation organization with the mission to conserve the lands and waters on which all life depends, today renewed their successful collaboration that links conservation goals with economic potential and addresses societal issues like deforestation and land degradation. The two partners have been collaborating since 2009 and entered into a global collaboration in 2018.

The new three-year collaboration builds on successful projects and focuses on further advancing business practices with the goals to scale up regenerative agriculture, improve resource efficiency to minimize impact of agriculture on climate, improve soil health, and promote habitat protection in major agricultural regions worldwide including the Cerrado region of Brazil, China, and the United States. The collaboration embodies Syngenta’s commitment to regenerate soil and nature, core to its new Group-wide sustainability priorities announced in April 2024.

Petra Laux, Chief Sustainability Officer of Syngenta Group: “We are very proud to continue our collaboration with TNC and our partnership for impact. We want to further leverage our efforts towards a climate solution-oriented agriculture fueled by innovation and partnerships that regenerate soil and protect nature. Agriculture must not only feed a growing global population over the coming decades, but it also needs to fight climate change and safeguard natural resources.”

Syngenta has set an ambitious target to recover 1 million hectares of degraded land throughout Brazil, with a significant portion focused on the Cerrado where the TNC collaborates with the company.

The goal of the initiative is to make the restoration of degraded land the profitable option sought by farmers in Brazil when expanding their production, instead of clearing native vegetation. The REVERTE® program, originally designed by Syngenta and TNC for the Cerrado due to its significant potential, includes Itaú BBA bank as the organization offering a line of credit for the growers following socio-environmental criteria.

Michael Doane, Global Managing Director Food & Freshwater Systems, TNC: “REVERTE® aims to demonstrate, through an integrated solution involving good agricultural practices, financial tools, policy, and business models, the economic viability of restoring degraded pastures instead of opening new cultivation areas and avoiding deforestation. Restoring land in the Cerrado delivers soil and water conservation benefits, increases carbon sequestration, and can increase the resilience of the production systems to extreme climate events. The program aims to support the transformation of agribusiness in the Cerrado, generating social, economic, and environmental benefits today and in the future.”

By 2026, ambitious target to recover over

22 investments have happened through all three platforms and the fund in 2024.

ah! Ventures invests in Agrilectric Pvt Ltd, that was founded in May 2022 with the vision of making farming lucrative again by upgrading the existing farm machineries & equipment to be more cost-effective, smarter and easier to use, through its First Gear Platform. ah! Ventures has done 221 investments in 130 startups till date taking its total investment portfolio to Rs 437 crore (54 MN USD) with 17 exits and 55 follow on rounds. 22 investments have happened through all three platforms and the fund in 2024.

Tech advancement in recent years is making it possible for smart electric propulsion system to replace engine-based systems, the switch can be immediate and extremely lucrative when the said engine system is being rented. The Indian farming eco-system consisting mainly of small and marginal farmers, all right within this sweet spot, opening up a huge disruptive opportunity. With our 3 layered strategy of electrify first, smartify second and autonimify third, we hope to elevate the farming experience and make it lucrative again.

The first two products that have been developed are ‘e-negilu”, the patented 5.5 Kw electric tiller and “e-kathri”, the 2 Kw electric weed cutter. Running cost of both of them is less than 10 per cent of a conventional engine-based system, while capable of maintaining the same efficiency of work. The products are state of the art and comes with a host of features like speed/current and torque control, with capabilities of remote monitoring and debugging.

Pushpa Gopal, Founder at Agrilectric says, “Apart from developing our own products, on the soft IP side, we have incorporated our unique S3 (self-stabilising system) & MCSA (motor current signature analysis) tech. The S3 tech basically enables a 55-Year-Old woman or a 20-Year-old man to be able to till the land with the same amount of efficiency, thus empowering almost anyone to be able to do their own tilling, whereas the MCSA allows us to create a digital twin capable of predictive maintenance.

The two products have been made available to the farmers for testing and feedback at various events/fairs and agri institutes, the response has been quite remarkable (Check Our Video) and have actually forced us to prepone our fund-raising plans by around 3-6 months to start commercialization as soon as possible.”

Pushpa Gopal also adds, “We are grateful and thankful to collaborate with AH Ventures who share our vision of empowering small and marginal farmers, enabling and guiding us to traverse the nuances of building a business from scratch up.”

Amit Kumar, Senior Partner at ah! Ventures said, “We are extremely excited to partner with and support Agrilectric’s exciting initiative. The Agri space is ripe for disruption especially on the farm equipment front. I am sure the company with its thorough research and innovative approach will act as a changemaker in this ever-evolving space.” ah! Ventures is one of the world’s largest fundraising platforms for early-stage startups”.

ah! Ventures is one of the world’s largest fundraising platforms for early-stage startups raising up to 10 MN USD. ah! Ventures has three platforms: First Gear, which helps startups raise up to Rs 1 crore (USD 150K), Angel Platform, which helps startups raise up to 1 million USD and High Tables Platform, which helps startups raise 1-10 MN USD.

22 investments have happened through all three

Total imports for oil year 2023-24 is estimated to be about 16.2 MMT vs 17 MMT in the previous year.

Bhavna Shah, Deputy CEO, NK Proteins Pvt Ltd made a presentation on Indian Vegetable Oils Scenario at a prestigious event organised by UOB Kay Hian in Malaysia on May 20, 2024. In her presentation, she highlighted key facts about the Indian Vegetable Oil Industry.

 Key highlights from presentation:

Vegetable Oil Market Dynamics

The domestic production of vegetable oils is projected to increase by 10-15 per cent in 2024. The increase in production is expected due to higher prices, good monsoon season, and robust domestic crop, with rapeseed significantly contributing to the rise. Import duties on vegetable oils are expected to remain unchanged until the conclusion of the ongoing general elections.

Import Projections

Total imports for oil year 2023-24 is estimated to be about 16.2 MMT vs 17 MMT in the previous year. Palm oil imports are anticipated to decline in 2024 (oil year) as it loses market share due to a narrow price difference with soft oils. India’s palm oil imports likely to register a decline from 10.1 million metric tons (MMT) in 2023 to 8.65 MMT in 2024. For soft oils, soybean oil imports are likely to increase from 3.87 MMT in 2023 to 4.2 MMT in 2024 and sunflower oil imports also likely to increase from 3 MMT in 2023 to 3.25 MMT in 2024. While the import of other oils likely to remain unchanged at 0.1 MMT in 2024.

Global shift & push for biofuels in India

Governments worldwide are urging businesses to transition away from fossil fuels. Biofuels are anticipated to play a crucial role in meeting COP 28 targets. India has also committed to reducing emissions by 45per cent by 2030 and achieving net-zero emissions by 2070. Accelerating biofuel adoption is essential for meeting these emission targets, with replacing coal with biomass presenting a swift solution. As the third-largest ethanol producer, India is well-positioned to expand rapidly.

However, the limited availability and rising costs of feedstock are significant constraints to biofuel production. Non-edible sources face barriers such as unavailability, proper cultivation, regulation, high polyunsaturated fatty acids, and low unsaturated fatty acids content, but technological advancements could help overcome these challenges. Utilising used cooking oil (UCO) as a major feedstock could alleviate some limitations. Additionally, utilising by-products from biodiesel production efficiently can help offset the price of biodiesel, making it more economically viable.

Total imports for oil year 2023-24 is

During Q4 FY24, PI Industries has registered 9 per cent growth in agrochemical exports mainly driven by volumes and new products.

PI Industries Ltd. has reported Q4 FY24 consolidated net profit of Rs 369.5 crore in the fourth quarter-ended March, in comparison with Rs 280.6 crore in the year-ago period. Revenue for Q4 FY24 was higher at Rs 1,741 crore as compared to Rs 1,565.6 crore in Q4 FY23.

During Q4 FY24, PI Industries has registered 9 per cent growth in agrochemical exports mainly driven by volumes and new products. Meanwhile, domestic revenues were subdued with reduction of 5 per cent Y-o-Y mainly due to volume drop of 6 per cent driven by delayed and erratic spread of monsoon although favourable product mix and improved working capital management helped in containing the financial impact. Biologicals products’ revenue increased by 35 per cent Y-o-Y.

For the Financial Year ended March 31, 2024, PI Industries has reported 18 per cent growth in its revenue at Rs 7,665.8 crore as compared to Rs 6,492 in Financial Year ended March 31, 2023. During FY 2024, the company posted net profit of Rs 1,681.5 crore as compared to Rs. 1,229.5 crore, reflecting a growth of 37 per cent.

During FY 2023-24, PI Industries reported 19 per cent growth in agrochemical exports over a high based mainly on account of scale-up of existing products and introduction of 6 new products. Growth comprises volume growth of 18 per cent and 1 per cent from price, currency and favourable product mix.  More than 70 per cent of revenue growth came from new products. Domestic segment remained subdued due to erratic monsoon and El Niño conditions which led to long dry spells impacting insecticide and herbicide sales in certain geographies. Biologicals products’ revenue increased by 29 per cent Y-o-Y.

During Q4 FY24, PI Industries has registered