Connect with:
Thursday / November 21. 2024

logo
mobile-logo
Home2024August (Page 7)
Company News, Finance, India, Supply Chain, Transportation

Company’s revenue increased by 21 per cent to Rs 7,560 crore and cargo handled was up 8 per cent at 109 million tonnes.

Adani Ports and Special Economic Zone Ltd (“APSEZ”) announced its results for the quarter ending 30 June, 2024. “FY25 has begun on a strong note for us with stellar performance on both financial and growth fronts. On the financial front, we posted all-time high earnings. But for the temporary disruption in Gangavaram Port, which is now fully restored, our Q1 cargo volume would have been at 114.7 MMT, a 13 per cent increase”, company mentioned in the statement.

“On the growth front, we won two new port concessions and a port O&M contract. We are proud that four of our ports featured in World Bank’s Container Port Performance Index 2023” said Ashwani Gupta, Whole-time Director & CEO, APSEZ.

Operational highlights

During the quarter, APSEZ clocked 109MMT of cargo volume (up 8 per cent YoY). The growth was primarily driven by Containers (up 18 per cent YoY) and Liquids & Gas (up 11 per cent YoY). We had a temporary disruption leading to a loss of 5.7 MMT at the Gangavaram Port, which is now fully restored.

Mundra port handled the highest every quarterly volume by any Indian port (51 MMT). Mundra, Kattupalli, Hazira, and Krishnapatnam featured in World Bank’s Container Port Performance Index 2023. The index benchmarks ports globally across multiple parameters including productivity, efficiency and reliability.

Highest ever quarterly rail cargo (0.16Mn TEUs, up 19 per cent YoY) and GPWIS volume (5.56 MMT, up 28 per cent YoY). Container volume handled at MMLPs increased by 27 per cent YoY to 103,784 TEUs.

Financial highlights:

Revenue grew by 21 per cent YoY to Rs 7,560 Cr in Q1 FY25.

EBITDA (excluding forex) jumped 29 per cent to Rs. 4,848 Cr. Domestic Ports contributed Rs. 3,990 Cr. to EBITDA and Logistics contribution was at Rs. 144 Cr. Domestic ports EBITDA expanded by 32 bps to 72 per cent due to better asset sweating.

Business highlights:

Signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port, Tanzania. CT2, with four berths, has an annual cargo handling capacity of 1 million TEUs and managed 0.82 million TEUs of containers in 2023.

Received a LOI for development, operation and maintenance of Berth No. 13 at Deendayal Port. The Company has been awarded this LOI for a 30-year concession period through a competitive bidding process.

Received LOI for five-year O&M of container facility at Netaji Subhas Dock at Syama Prasad Mookerjee Port, Kolkata. Netaji Subhas Dock is the largest container terminal on the eastern coast of India and handled 0.63 million TEUs in FY2023-24. APSEZ’s presence at the port will drive synergies with upcoming transshipment hubs at Vizhinjam and Colombo.

First mothership arrived at the Vizhinjam Port; India’s first transshipment port equipped with South Asia’s most advanced container handling technology.

Warehousing capacity increased to 2.9 million sq. ft. with the addition of warehouse at Palwal (2.4 million sq. ft as of FY24 end).

Agrisilo capacity was at 1.2 MMT and is expected to increase to 4 MMT on completion of the projects underway. Marine services business deployed a tug each in Mexico and Sri Lanka.

Company’s revenue increased by 21 per cent

Agbiologicals, Agribusiness, Company News, Fungicides, India

 Miravis® Duo, powered by ADEPIDYN® ️ technology, is approved for use in Tomato, Chili, Groundnut, and Grape.

Syngenta India, a leading agri-tech company, has announced the launch of two ground-breaking crop protection products – Miravis®️ Duo and Reflect®️ Top, designed to revolutionize crop protection and ensure quality output for farmers across the country. Miravis® Duo, powered by ADEPIDYN® ️ technology, is a cutting-edge fungicide approved for use in Tomato, Chili, Groundnut, and Grape. It offers exceptional control over diseases such as Powdery Mildew, Anthracnose, and Leaf Spots. With its power, stamina, and broad-spectrum disease control, Miravis®️ Duo ensures farmers can achieve higher quality produce.

Indian growers battling a number of diseases and pests in their crops will have another tool in their arsenal with this effective new fungicide powered by groundbreaking technology. It is estimated that farmers worldwide lose up to 23 percent of their crops to fungal diseases each year. Miravis® Duo offers crops robust and reliable disease protection, allowing growers better quality yield resulting in significant increase on the return on investment.

This product also has an excellent sustainability profile, as the effectiveness and long-lasting activity of the technology enables low use rates and potentially fewer sprays especially in leaf spot diseases, while safeguarding beneficial organisms.

Reflect®️ Top, featuring Double Binding Technology, is a specialized fungicide tailored for rice, a staple food in India. It provides effective defence against Sheath Blight, ensuring prolonged disease control and providing a robust crop foundation. It addresses the unique needs of Indian farmers, supporting healthier and more productive rice fields.

Susheel Kumar, Country Head and Managing Director of Syngenta India Pvt Ltd, while expressing his happiness at the launch, said: “At Syngenta, we are committed to transforming agriculture by offering advanced solutions to growers’ challenges. Timely launch of Miravis®️ Duo and Reflect®️ Top shows our dedication to innovation and commitment.”

“Syngenta India continues to push the boundaries of agricultural technology, equipping farmers with the tools they need to increase productivity and promote a balanced agricultural environment. We are confident that Miravis®️ Duo and Reflect®️ Top will set new standards in crop protection for the farmers,” he added.

Kumar further said that the unique double binding technology of Reflect® Top offers robust and long-lasting protection from sheath blight. It provides a clean, green and healthy stem.

“It ensures enhanced bio-efficacy and longevity against rice sheath blight. It is a state-of-the-art solution which offers peace of mind to the rice growers by providing a robust crop foundation. With Reflect® Top rice farmers can achieve optimal crop health during vegetative crop stage for better further crop development.”

Reflecting further about Miravis®Duo, Kumar said that this product is not only a game changer for chilli crops. “It is a broad-spectrum solution that shields multiple crop types from many different diseases, including powdery mildew, leaf spots & anthracnose.”

He revealed that initially expected to cover four key crops in India – chilis, tomatoes, groundnuts and grapes – such is the effectiveness of the product that it will likely be rolled out to cover dozens more. Providing India’s growers with reliable disease control solutions will help bolster local economies and export markets, as chili vegetables alone make up more than a third of the country’s total spice exports, he said.

 Miravis® Duo, powered by ADEPIDYN® ️ technology,

Agbiologicals, Agribusiness, Company News, Europe

It is compatible with various products, such as herbicides, fungicides, insecticides, acaricides, plant growth regulators, and micronutrients.

UK based Bionema Group Ltd., a leading biocontrol technology developer that provides biological solutions for crop protection and plant health management announced the launch of Permeate® SP 50. This cutting-edge polyether trisiloxane significantly enhances crop protection and fertilisation through superior spreading, wetting, and uptake capabilities.

Permeate® SP 50 is designed to dramatically reduce surface tension in aqueous solutions, thereby improving the performance of crop protection products. This advanced formulation offers several key benefits:

Allows a more significant amount of active ingredient to enter the plant.

Provides rain fastness, eliminating the need for a second treatment after one hour since rain.

Ensures higher selectivity to crop species.

Reduces spray volumes by up to 30%.

It is compatible with various products, such as herbicides, fungicides, insecticides, acaricides, plant growth regulators, and micronutrients.

Solutions can be sprayed even under hot and dry conditions when weed species are mature and hardened, or plants are covered with dust.

Permeate® SP 50 is highly versatile. It is soluble in various solvents, including water, butanol, NMP, cyclohexanone, rapeseed methyl ester, sunflower oil, and Solvesso 150. This makes it ideal for tank mix applications and formulations.

Microbial Compatibility: Permeate® SP 50 is biocompatible with microbial control agents such as Trichoderma spp., Beauveria bassiana, and Bacillus spp. It is an excellent carrier liquid for microbial formulations, offering superior shelf-life results by managing water activity, a critical factor for microbial stability.

Dr. Minshad Ansari, CEO and Founder of Bionema Group, stated, “Permeate® SP 50 guarantees rapid, even, and superior wetting of hydrophobic surfaces, including leaves and other plant parts. This unique formulation enhances solution uptake by penetrating cuticular waxes and entering stomatal pores, ensuring direct access to the plant’s intercellular structure. Additionally, silicone surfactants like Permeate® SP 50 can facilitate the passage of pesticides or biopesticides through the cuticle without causing any damage.”

Regulatory Compliance and Certifications: Permeate® SP 50 is listed in several chemical inventories, including EINECS, TSCA, DSL, AICS, ECL, ENCS, IECSC (China), and PICCS. It is also exempt from a tolerance per 40 CFR 180.910 requirement when used as an inert ingredient in pesticide formulations applied to growing crops or raw agricultural commodities after harvest. Furthermore, it is listed by the OMRI (Organic Materials Review Institute), ensuring its suitability for organic farming practices.

It is compatible with various products, such

Agribusiness, Company News, Finance, India, Start ups

Agrizy aims to transform India into a global food processing hub by helping FPOs and MSME agri-processors access export markets.

Agri-processing platform Agrizy announced today that it has raised USD 9.8 million (Rs 82 crores) in Series A funding. The round was co-led by Accion and Omnivore, with participation from Capria Ventures, Thai Wah Ventures, and existing investor Ankur Capital.

India’s $400 billion agri-processing market, though growing 9 per cent annually, faces a bottleneck: only 10 per cent of farm produce gets processed today. This pales in comparison to global leaders like China (40 per cent) and developed nations (70 per cent). India has more than 2 million food processing MSMEs, which operate significantly under capacity and struggle to find B2B customers, especially in export markets.

Agrizy is helping to solve these challenges, providing MSMEs with a fully managed B2B marketplace for agrifood supply chains and processing. The platform connects every stakeholder in the agrifood processing ecosystem to optimally discover and fulfil transactions. The startup works closely with agrifood processing MSMEs, offering them a suite of digital services to generate additional long-term revenues and improve their operating margins, while streamlining their procurement and sales cycles.

Agrizy was co-founded in 2021 by Vicky Dodani and Saket Chirania, who previously worked in senior roles with leading Indian startups including Blackbuck, Bizongo, and Zoomcar. With the new funding, Agrizy aims to expand into new product areas and geographies; launch CDMO and value-added advisory services; and offer financial services to MSME processors and farmer-producer organizations (FPOs). 

Vicky Dodani, Co-founder and CEO at Agrizy, said, “Agrizy aims to transform India into a global food processing hub by helping FPOs and MSME agri-processors access export markets and comply with global quality standards, while offering these underserved stakeholders working capital from formal financial institutions. The current investment will empower Agrizy to actively drive these crucial initiatives in both local and global markets.”

John Fischer, Chief Investment Officer at Accion, said: “Agrizy is seeking to reshape traditional agri-processing by providing a robust marketplace and support to improve production. The company aims to also address the lack of quality financing for small processors and the Farmer Producer Organizations that supply them, helping to increase incomes in rural communities. Through our partnership with Agrizy, we will leverage Accion’s global expertise to help the company grow, connecting many processors and smallholder farmers to responsible financial services and formal markets for the first time.”

Mark Kahn, Managing Partner at Omnivore, stated, “We are proud of our partnership with Agrizy and their vision of upgrading the Indian agri-processing sector. The company’s foray into contract manufacturing is critical for streamlining intricate, export-oriented supply chains. By prioritizing innovation and sustainability, Agrizy is positioning India’s food processing industry to meet evolving global market needs.

Agrizy aims to transform India into a

Finance, India, Institutions, Interaction

The conference, themed ‘Transformation Towards Sustainable Agri-Food Systems,’ will gather around 1,000 delegates from universities and research institutions worldwide.

The 32nd International Conference of Agricultural Economists (ICAE), a prestigious triennial event in the field of agricultural economics, commenced successfully today with an inauguration by the Prime Minister of India, Narendra Modi, at the Bharat Ratna C. Subramaniam Auditorium, National Agricultural Science Centre (NASC) Complex in New Delhi, India. Continuing through August 7th, the conference, themed ‘Transformation Towards Sustainable Agri-Food Systems,’ will gather around 1,000 delegates from universities and research institutions worldwide to present developments in the field and deliberate on global food system challenges.

The inaugural session featured an inspiring address by the Prime Minister of India, Narendra Modi. Welcoming the gathering on behalf of one of the largest agricultural and allied sectors’ community, he stressed the importance of ancient Indian knowledge on agriculture, mentioning the ‘Krishi Parashar’, an almost 2000-year-old comprehensive treatise on agriculture with science and logic at its base and had in-depth knowledge on weather forecasting, rainwater harvesting, animal husbandry, storage among other topics. Recalling the past, when India’s food security was a matter of concern for the world, he remarked, “Today, India is a food surplus country; the largest producer of milk, pulses and spices, and the second largest producer of foodgrain, fruits, vegetables, cotton, sugar, tea and fish. India now provides solutions on global food and nutrition security and the country’s experience and knowledge are highly valuable for discussions on food systems transformation and will especially, benefit the Global South.” 

Highlighting the government’s push for research and development into climate-resilient crops, the Prime Minister said, “Nearly 1900 new climate resilient varieties have been handed to the farmers in the last 10 years, including rice varieties which require 25 percent less water than traditional varieties.” Acknowledging the seriousness of the nutrition related challenge, he presented millets as a solution given “the superfood’s quality of using minimum water to deliver maximum production” and expressed India’s willingness to share this superfood basket with the world. He also touched upon various initiatives for farmers’ welfare and advancement and the move towards digitization of agriculture, concluding by highlighting the importance of global knowledge sharing for a sustainable future for all.

 ICAE, organized by the International Association of Agricultural Economists (IAAE), is a key forum for agricultural economics since 1929. Hosting the conference in India highlights the country’s proactive role in addressing global agricultural and developmental challenges and showcases its advancements in research and policy. The event is jointly organized by the Indian Council of Agricultural Research – National Institute of Agricultural Economics and Policy Research (ICAR-NIAP), the International Food Policy Research Institute (IFPRI), the National Academy of Agricultural Sciences (NAAS), the Agricultural Economics Research Association (AERA – India), the Indian Society of Agricultural Economics (ISAE), and the Indira Gandhi Institute of Development Research (IGIDR).

The conference theme addresses the urgent need for sustainable agricultural practices considering global issues such as climate change, natural resource degradation, rising costs, geopolitical conflicts and shocks. Shivraj Singh Chouhan, Minister for Agriculture & Farmers Welfare, also graced the inaugural ceremony, emphasised the Indian government’s commitment to transforming the agricultural sector through innovative policies and sustainable practices. He remarked, “Our efforts are rooted in ensuring that we increase our food production in such a way that it safeguards human and soil health. We are facing so many challenges today, ranging from hunger and malnutrition to climate change and decreasing food production due to changes in temperature. In fact, the future of our generation itself is at stake. I am positive that the discussions that take place at this global platform in the coming days will strengthen food-related policies and their formulation in India and globally.” 

Thanking the Prime Minister for his presence and support, Prof. Ramesh Chand, Member, NITI Aayog, noted that the conference is being held in India for the second time after 66 years and has generated much anticipation among the new generation of agricultural economists in the country. “This conference is intended to provide strong evidence to prepare a roadmap for the enhanced role of agriculture for development in this changing world”, he said.

Prof. Matin Qaim, President of IAAE, sharing his sentiments on the need for sustainable food systems said, “Agricultural economists have an important role to play in doing the relevant science, addressing urgent questions and coming up with recommendations for policies to steer our food systems to more sustainable pathways and that is what we will be discussing in the next few days.”

Renowned experts and thought leaders including Dr. Himanshu Pathak, Dr Thomas Hertel, former IAAE presidents Dr Johan Swinnen and Dr Joachim von Braun, and Dr Smita Sirohi, Organizing Secretary for the ICAE were present as part of the inaugural event.

The ICAE 2024 will feature a series of impactful sessions designed to address the most pressing issues in agricultural economics and sustainable development ranging from innovative farming practices, digital agriculture, improving value chains and markets, gender in food systems and climate-smart policies. Along with prominent plenaries and expert panels, the conference will feature presentations by young researchers in the field and workshops designed to foster in-depth discussions on critical themes. Additionally, attendees will also get to experience exhibitions by agribusinesses, attend cultural and social events such as mid-conference tours, cultural performances, and enjoy an offsite dinner, providing everyone with an immersive experience of India’s vibrant heritage.

Through its comprehensive program, ICAE 2024 aims to contribute to the larger vision of sustainable agricultural practices and innovations that can be a catalyst for transformation in the global agri-food systems. The discussions and collaborations fostered during the conference are expected to lead to impactful solutions and new research initiatives, ensuring resilience and sustainability in agriculture for future generations.

The conference, themed ‘Transformation Towards Sustainable Agri-Food

Agri Genomics, Agribusiness, Company News, India, R&D, Seeds

In the case of HT rice, the technology that the JV will commercialise is called ‘FullPage’ which is a new generation double stack mutant herbicide-tolerant rice technology.

Leading Seed company, Mahyco announced that company has formed a 50:50 joint venture with US-based seeds company ‘RiceTec’ called ‘Paryan’ to introduce environment-friendly non-GMO herbicide tolerant (HT) rice and wheat varieties for Indian farmers.

The Joint venture which is one among the many that Mahyco has entered with a global seeds company after the highly successful one with Monsanto — will be for licensing of HT traits and HT traited hybrids and varieties across rice and wheat to seed companies, each of whom will introduce these technologies into their varieties of seeds.

The rice and wheat hybrids and varieties from these technologies are resistant to the commonly used broad-spectrum herbicide called ‘imazethapyr’. The promoters claimed that farmers can freely use the herbicide ‘imazethapyr’ without the fear of plants turning yellow which makes them ideal for direct seeding without the fear of weeds. While the wheat varieties are suitable for zero-tillage cultivation.

In the case of HT rice, the technology that the JV will commercialise is called ‘FullPage’ which is a new generation double stack mutant herbicide-tolerant rice technology.

And, in the case of wheat, the technology is called the ‘FreeHit’system which is also a unique double-stacked herbicide tolerant mutant in specially bred wheat varieties and specially formulated herbicide that will help farmers control weeds and increase yields.

In the case of HT rice, the

AgroPolicy, Collaborations, Fruits, India, Supply Chain, Vegetables

This agreement aims to enhance collaboration in agricultural marketing and supply chain management in Meghalaya.

The Meghalaya State Agricultural Marketing Board, Government of Meghalaya, signed a Memorandum of Understanding (MoU) with Mother Dairy Fruits and Vegetables Pvt. Ltd., a subsidiary of the National Dairy Development Board (NDDB). This agreement aims to enhance collaboration in agricultural marketing and supply chain management in Meghalaya.

The signing witnessed the attendance of Conrad K Sangma, Chief Minister, Dr. Vijay Kumar D., IAS, Commissioner & Secretary, Agriculture & Farmers’ Welfare, Dr  Meenesh Shah, Chairman & Managing Director, National Dairy Development Board, Frederick Roy Kharkongor, Principal Secretary, Animal Husbandry & Veterinary Department, Govt. of Meghalaya, Shri Manish Bandlish, Managing Director, Mother Dairy Fruit & Vegetable Pvt. Ltd; officials from the agriculture department and allied departments amongst others.

Conrad K Sangma,Chief Minister, expressed optimism about the MoU’s success, highlighting its potential to establish a long-term partnership. “We are delighted with this MoU, as its scope will enhance logistics, significantly reducing transit time for our produce to reach larger markets.

This partnership seeks to address the major challenges faced by the state and its farming community by enhancing direct market connectivity and improving post-harvest care, with experts from Mother Dairy working closely with the state to upgrade current management practices. The collaboration will also focus on crop research and development, including varietal improvements and productivity, optimizing logistics costs by procuring multiple types of produce, and marketing the ‘Meghalaya brand’ in Delhi. Additionally, the partnership aims to further strengthen the dairy sector, fruit and vegetable value chains, and the organic sector in the state.

Dr. Meenesh Shah, Chairman and Managing Director, National Dairy Development Board (NDDB) said, “Mother Dairy will also support varietal improvement and shelf-life extension to boost productivity along with value-added processing. Dr Shah also stated that NDDB will continue to support empowering farmers by providing them direct market access for their produce. The agricultural products from Meghalaya as well as North Eastern States, most suited to be organic, would definitely be brought into its ambit ensuring better and remunerative prices to farmers he said.

Frederick Roy Kharkongor, Principal Secretary of the Animal Husbandry & Veterinary Department, Government of Meghalaya, expressed optimism about the association, noting that this MoU is just the beginning of a larger journey. He emphasized that the dairy sector in Meghalaya still has significant potential for development.

Dr. Vijay Kumar D., IAS, Commissioner & Secretary, Agriculture & Farmers’ Welfare, noted Meghalaya’s recent success in exporting fruits, especially pineapples and oranges, to both national and international markets, with this year’s partnership with Mother Dairy proving highly successful. To date, 12 MT of pineapples have been shipped from the state and sold through various Mother Dairy outlets. “With their outlets across the country, we have seen the success of this partnership and foresee the potential to expand our collaboration in selling and processing our produce, as well as in value chain management for various crops, particularly fruits and vegetables,” he said.

To achieve the short-term goals of exporting pineapples, ginger, and mandarins, three project teams have been proposed to address key focus areas with joint committees from Mother Dairy and the Government of Meghalaya. One team will focus on aligning taste with consumer preferences in the Delhi market by improving the supply chain to ensure the right stage of harvest and proper transportation methods to maintain the distinctive Meghalaya flavor. Another team will work on building the ‘Meghalaya Brand Product’ range, emphasizing its unique selling points in the Delhi market, investing in point-of-sale and media, and planning awareness programs. The third team will explore short-term and long-term business partnership opportunities, identify new products, and conduct R&D on existing products based on business insights.

 Manish Bandlish, Managing Director, Mother Dairy Fruit & Vegetable Pvt. Ltd highlighted the role NDDB plays in bridging the gap between farmers and consumers, uniting them on a common platform. “This collaboration showcases our efforts to connect India’s diverse agricultural heritage with urban consumers, offering a variety of premium produce from across states to discerning consumers nationwide and abroad,” he said. Speaking on the overwhelming response the pineapples from Meghalaya at Safal outlets in Delhi received from consumers, Shri Manish Bandlish also expressed that this initiative will expand and include more varieties from the state such as Ginger, Lakadong Turmeric and GI-tagged Khasi Mandarin.

This agreement aims to enhance collaboration in

Agribusiness, Agro chems – Fertilizers, Agrotech, India, R&D

The Stable Nano Nitrogen-Phosphorus fertilizer is designed to improve the efficiency of nitrogen and phosphorus use in crops.

Leading fertilizer cooperative IFFCO announced that the company has achieved a major milestone by securing a patent for its innovative Stable Nano Nitrogen-Phosphorus fertilizer. The patent, granted for a term of 20 years from February 8, 2023, under the Patents Act, 1970, represents a significant advancement in agricultural technology.

This new patent follows IFFCO’s previous successes with Nano Urea and Nano DAP fertilizers. The Stable Nano Nitrogen-Phosphorus fertilizer is designed to improve the efficiency of nitrogen and phosphorus use in crops. This enhancement aims to promote more effective and sustainable farming practices, providing farmers with valuable tools for increasing productivity and reducing environmental impact.

Managing Director Dr U.S. Awasthi announced the achievement via Twitter. He mentioned, “I am happy to share that a patent has been granted to IFFCO for an invention entitled STABLE NANO NITROGEN-PHOSPHORUS containing FERTILISER AND METHOD OF MANUFACTURE THEREOF for the term of 20 years from the 8th day of February 2023 in accordance with the provisions of the Patents Act, 1970.”

Dr Awasthi also acknowledged the inspiration provided by Prime Minister Narendra Modi, emphasizing the role of government initiatives in promoting chemical-free farming and Aatmanirbhar Krishi.

Earlier this year, IFFCO was awarded a patent for its pioneering “Nano Urea Fertilizer and Method of Manufacture Thereof,” which is also valid for 20 years from January 12, 2023. This earlier patent underscored IFFCO’s commitment to advancing agricultural innovation.

The Stable Nano Nitrogen-Phosphorus fertilizer is designed

AgroPolicy, India, Seeds, Supply Chain

The seed industry believes that incentivising investments in advanced seed technologies and research that help enhance productivity and thus overall supply is crucial.

Food and Consumer Affairs Minister Pralhad Joshi launched sales of tomatoes at a subsidised rate of Rs 60 per kg in Delhi-NCR on July 29 as part of the government’s efforts to stabilise prices and provide relief to the common man.

The National Cooperative Consumers’ Federation of India Ltd (NCCF) vans have started providing tomatoes at a subsidised rate. The tomatoes are sold in Delhi along with Noida and Gurugram, according to the statement.

The Centre undertook the market intervention initiative to stabilise rising tomato prices in the retail market. The Department of Consumer Affairs has decided to launch this initiative to check the surge of tomato prices in major cities, especially Delhi.

Federation of Seed Industry of India has welcomed government’s initiative of selling subsidised tomatoes through NCCF vans. While commenting on the government’s initiative, Raghavan Sampathkumar, Executive Director, Federation of Seed Industry of India said, “We welcome the government’s initiative to sell subsidised tomatoes through NCCF vans, initially introduced in Delhi and now expanded to Mumbai, to help cool down rising costs and ensure affordability for consumers. While these short-term measures are vital in addressing acute price volatility, we would like to reiterate the need to focus on long-term, sustainable solutions.

The seed industry believes that incentivising investments in advanced seed technologies and research that help enhance productivity and thus overall supply is crucial.

For example, New Breeding Technologies (NBTs), including CRISPR gene editing can be leveraged for introducing crop traits like pest and disease resistance, improved productivity, and extended shelf life. These advancements will not only stabilize prices but also enhance farmers’ profitability.

We urge for continued support in developing superior seed varieties and implementing evidence-based policies that foster innovation and sustainability. This will pave the way for Indian agriculture to become prosperous and profitable, benefiting both farmers and consumers in the long run”.

The seed industry believes that incentivising investments

Agribusiness, Animal Health, Collaborations, Company News, India, Malaysia

To substantially reduce mortality rate of Livestock and Aquaculture into India.

Fischer Medical Ventures Ltd (Fischer MV), a pioneering force in the healthcare industry, confirmed its investment and collaboration with Bio Angle Vacs Sdn Bhd (BAV), a leading Biotechnology company in Malaysia that develops, manufactures and distributes vaccines to small and large-scale farming owners worldwide, focusing on health and disease prevention for livestock and aquaculture. BAV have to date secured a total of USD 83 million annual sales contracts from China, Nigeria, Kenya, Chad, Uganda, Uzbekistan and Indonesia for its range of innovative, sought-after animal vaccines.

Fischer MV (formerly known as Fischer Chemic Ltd) is known for its affordable and high-quality medical diagnostic and imaging technologies, by leveraging cutting-edge innovations and AI-powered software solutions in healthcare. Moving into preventative healthcare for livestock and aquaculture with BAV shows its commitment to improve healthcare through greater food security. Fischer MV is making plans with BAV to establish a production facility in India to serve the local and Middle Eastern markets where livestock populations are top on the world’s list.

Founded in 2013, BAV has revolutionized the animal vaccination industry with its ground-breaking delivery methods that prioritize quality, safety, and efficacy. Its flagship innovation, the Spray Technology Vaccine (STVAC), was developed and patented by BAV’s founder, Prof. Mohd Zamri Saad, in collaboration with scientists from the Faculty of Veterinary Medicine at Universiti Putra Malaysia (UPM). STVAC leverages advanced recombinant technology and intranasal administration to elicit both mucosal and systemic immune responses, demonstrating enhanced protection for small ruminants, especially goats and sheep, against bacterial infections with high mortality rates. Pneumonic Pasteurellosis (pneumonia) commonly affects 30 per cent to 60 per cent of global goat and sheep populations can be effectively managed through vaccination, however traditional injectable vaccines requiring vet to administer are costly, time-consuming, labour- intensive and stressful for animals. In contrast, BAV’s STVAC intranasal spray method minimizes stress for animals, reduces costs and simplifies the vaccination process by any handlers, hence more accessible for farmers. STVAC is tested to enhance protection of goats and sheep from pneumonia, reducing mortality rates significantly to below 5 per cent.

In addition to STVAC, BAV has developed several other innovative solutions. VIVAC aqua-feed is a Vibrio vaccine that provides cross-protection against a range of pathogenic Vibrio spp. prevalent in Asian marine fish cultures. Administered effectively through fish feed, VIVAC addresses the challenges faced by small and medium-sized fish farmers who struggle with labour-intensive and costly injectable vaccines. AQUABOOSTER is an oral feed vaccine that offers cross-protection against multiple species of pathogenic Streptococcus spp. and Aeromonas spp. prevalent in freshwater fish farming across Asia. AQUABOOSTER has been shown to significantly increase survival rates by 60-90%. SEABIOBROWN is a symbiotic feed enhancer for shrimp health, combining prebiotics and probiotics to help prevent acute hepatopancreatic necrosis disease (AHPND) and vibriosis outbreaks, which contribute to early mortality syndrome (EMS) in shrimp. Aside from vaccines, BAV is also expanding into other animal-related products such as disinfectants, antiseptics and treatment.

 Ravindran Govindan, Executive Chairman & MD of Fischer MV, announces the collaboration with confidence: “This collaboration with BAV is our commitment in food security, starting from India with the 2nd largest sheep & goat population of about 223 million, and where food security is a growing issue. With Fischer MV’s expertise in MedTech solutions, robust resources, and strategic network, we look forward to bringing BAV’s ground-breaking, cost-effective animal vaccines and products to the rest of the world to improve our food safety.”

 Noor Shazreena Ishak, CEO of BAV is elated to partner Fischer MV: “In view of the growing demand for preventive healthcare in the animal world, we are committed to offer easy, cost-effective and trustworthy solutions to relief the stress of our livestock and aquaculture and greatly improve the ROI of farmers. Through this collaboration with Fischer MV, we will have stronger science, tech and marketing support to meet the global demand for quality and affordable animal vaccines, and ultimately help reduce the burden of animal diseases worldwide.”

To substantially reduce mortality rate of Livestock

AgroPolicy, Finance, India, Schemes - Govt, Supply Chain, Transportation

Trauma and Burn Care (TBC) Centre inaugurated at Paradip port and foundation laid for Water treatment plant with the capacity to filter 16 million litres of water per day.

T.K. Ramachandran, Secretary, Ministry of Ports, Shipping and Waterways (MoPSW) inaugurated and laid foundation stone of several significant projects worth more than Rs. 13 crores at Paradip Port Authority (PPA).

He inaugurated the Trauma and Burn Care (TBC) Centre in the newly constructed Annex building of Paradip Port Hospital. Constructed at a cost of Rs. 2.90 Crores, the centre will provide curative and rehabilitative services for trauma and burn victims in and around Paradip.

Secretary, Ramachandran laid the foundation stone for the Water Treatment Plant of PPA. The project, being constructed at a cost of Rs. 10.50 Crores will receive raw water through Taldanda Canal and will have the capacity to filter 16 million litres of water per day. The plant is expected to be completed by December 2024, enhancing the water infrastructure of Paradip Port and supplying quality drinking water to the citizens of Port Township.

Ramachandran reviewed the functioning of the PPA and interacted with Heads of Departments and Deputy Heads of Departments. He also inspected and reviewed port operations, planning, and expansion at the Mechanized Coal Handling Plant, Twin Wagon Tipplers at JSWPTPL, and KICT silos. He suggested system improvement measures to increase productivity.

The Secretary suggested several measures aimed at improving the overall performance of the port operations. These recommendations are expected to enhance the capacity and streamline the workflow, contributing to Paradip Port’s long-term growth and success.

It is to be noted that, the Paradip Port in Odisha is the highest cargo handling major port of the country. In the financial year 2023-24 PPA became highest cargo handling port by handling 145.38 million metric tonnes (MMT) cargo throughput.

The goal under Vision 2047 is to increase the port handling capacity to 10,000 MTPA. Contours of the plan will soon be spelled out. There will be avenues for private participation that are being worked upon. All ports are preparing a master plan in order to become mega ports by 2047. Improving port infrastructure and facilities, reducing turnaround time, and increasing handling capacity will be the bedrock of the 2047 target.

The latest goal is well above the targets set under the ongoing Sagarmala programme that aims boosting port capacity by 800 MMTPA to an overall 3,500 MMTPA by 2035.

As a part of Sagarmala programme, more than 800 projects at an estimated cost of Rs 5.5 lakh crore have been identified for implementation during 2015-2035. In a nearer goal, the Maritime India Vision (MIV) 2030 has a goal to develop global standard ports in India. The MIV 2030 estimates investments to the tune of Rs 1-1.25 lakh crore for capacity augmentation and infrastructure development at Indian ports.

Trauma and Burn Care (TBC) Centre inaugurated

Agro Universities, India, R&D

Scientific team of Dr Ajit Arun Waman and Dr Pooja Bohra, Senior Scientists, ICAR-CIARI contributed to both inventions.

ICAR-Central Island Agricultural Research Institute, Port Blair got two of their inventions registered as Industrial Designs with the Patent Office. The first invention- cold water circulatory system is a laboratory aid useful for condensation operation during the process of extraction of phytochemicals from spices, medicinal & aromatic plants, fruits etc. Such extraction processes involve continuous use of running tap water for condensation, which results in considerable wastage of water, while the sophisticated recirculatory chillers are too costly for most of the small laboratories. The invention would not only be affordable but also water-saving solution for the researchers and academicians dealing with various aspects such as extraction of essential oils, fixed oils, refluxing of samples etc.

The second invention is cinnamon bark rubbing tool, which is a handy tool that facilitates extraction of inner bark of cinnamon from the harvested stems. Cinnamon is an ancient spice and country imports huge quantities of produce causing loss to the national exchequer. High labour requirement in various stages of harvesting is the main factor deterring cinnamon cultivation in the country. In order to facilitate the harvesting, availability of user-friendly tools is required and this invention is a timely attempt to meet this gap.

Scientific team for the above inventions includes Dr. Ajit Arun Waman and Dr. Pooja Bohra, Senior Scientists, ICAR-CIARI.

Scientific team of Dr Ajit Arun Waman

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

Company registered Profit After Tax (PAT)of Rs 200 crore which is 76 per cent higher on YoY basis.

Deepak Fertilisers and Petrochemicals Corporation Limited, one of India’s leading producers of industrial & mining chemicals and fertiliser announced its results for the first quarter ended June 30, 2024.

In Q1FY25 company delivered revenue Rs.2,281 Crores, marginal decline by 1.4 per cent on YoY basis due to lower commodity prices. Company’s EBITDA margin improved to 20.4 per cent against 12.1 per cent on YoY basis. Company’s PAT was Rs.200 crore which is 76 per cent higher on YoY basis.

During the quarter, sales of manufactured bulk fertilisers was 174 KMT, representing an 11 per cent increase YoY. The company has launched Smartek fertilizer for paddy, pulses, and cotton, along with the Croptek grade for soybean crops. Sales of specialty fertilizer product, Bensulf, amounted to 10 KMT this quarter, reflecting a 51 per cent increase YoY.

Sales of traded specialty fertilisers in Q1FY25 saw an 80 per cent increase YoY. With global prices for water-soluble fertilisers stabilizing, demand has now returned to normal levels.

 With better monsoon, the demand outlook is positive. We are focusing on delivering crop specific and water-soluble fertilizers which deliver higher yield and productivity to the farmer. Additionally, our recent partnership with Israel-based Haifa Group will help to promote high-performance specialty fertilisers.

Segment Performance:

Chemical Segment (Mining and Industrial Chemical) contributed about 57 per cent of total revenue which grew by 5per cent YoY mainly driven by improved demand in TAN business.

Fertilisers Segment contributed 43 per cent of total revenue which was lower by 9 per cent YoY because of delay in monsoon which post July has picked up very well.

Reduction in key RM Prices during Q1FY25 has resulted in lower NSP:  Ammonia 36 per cent YoY; MOP 37 per cent YoY; Gas 7 per cent YoY; while delivering improved overall margins.

Launched Croptek grade for Soyabean Crop and Smartek grade for Paddy-& Pulse.

The National Budget has proposed Duty hikes on Ammonium Nitrate and Duty reductions on the Precious Metals used for Catalysts, both will have a positive impact.

Commenting on the performance, Sailesh C. Mehta, Chairman & Managing Director said, “DFPCL has delivered an impressive performance for Q1FY25, with notable increase in EBITDA margin by 823 bps YoY, up from 12.1 per cent to 20.4 per cent.

The businesses are reaping the benefits of backward integration of Ammonia plant which has helped mitigate supply chain risk as well as price volatility and the benefits are captured within the group.

Also, the strategy of moving from commodity to speciality has been working to sustain and enhance the margins of the businesses.

Mining chemical segment demonstrated robust volume and margin growth supported by stable imported Fertliser Grade Ammoniam Nitrate (FGAN) prices and lower ammonia prices. The proposed duty hike on ammonium nitrate will also help going forward.

The fertilizer business volume was driven by Croptek and specialty fertilizers, providing crop-specific solutions to farmers. Despite delayed monsoon and high inventory of phosphatic fertilizers, volumes slightly declined by 3 per cent YoY. With rains predicted to be above normal, we expect volume growth in the coming quarter, boosted by new launches: Croptek grade for Soyabean and Smartek for paddy and pulses.

Margins of Nitric acid is stable with volumes lower on YoY basis due to extended repair in WNA plant. The IPA business declined by 8 per cent YoY due to the planned shutdown of the plant. Going forward, we expect stable demand in both Nitric Acid and IPA segment.

We continue to maintain sharp focus on operational efficiencies, drive cost optimizations, capacity utilization, and productivity improvements, which will help us navigate through market challenges and remain steadfast in adding value to our shareholders.

Company registered Profit After Tax (PAT)of Rs

Agribusiness, Company News, Farm Mechanisation, Finance, India

Total tractor sales (Domestic + Exports) during July 2024 were at 27209 units, as against 25175 units for the same period last year.

 Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for July 2024.Domestic sales in July 2024 were at 25587 units, as against 24168 units during July 2023. Total tractor sales (Domestic + Exports) during July 2024 were at 27209 units, as against 25175 units for the same period last year. Exports for the month stood at 1622 units.

Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said “We have sold 25587 tractors in the domestic market during July’24, at a growth of 6 per cent over last year. South-West monsoon has progressed very well in the month of July, with surplus rainfall in Central, Western and Southern states; while Bihar, Haryana, Punjab and parts of eastern UP and Jharkhand are still in deficient rainfall category. Kharif sowing has progressed considerably across India uplifting farmer sentiments. Higher crop prices for wheat and potato and increase in MSP for all major kharif crops has further elevated farmers sentiments. Rainfall progress remains a key monitorable for the coming months. With budget allocations supporting agri and rural economy and favourable terms of trade for the farmers, the upcoming festive season is looking very promising for tractor industry. In the export market, we have sold 1622 tractors, a growth of 61 per cent over last year.”

Total tractor sales (Domestic + Exports) during