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Acquaculture, Agribusiness, AgroPolicy, India, Interaction, Investments, Live Stock, Schemes - Govt

Around 60 Investors from various parts of the country specializing in technologies related to Tuna and Seaweed will also be participating in the event.

The Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry & Dairying, is organizing an Investors Meet 2024: Investment Opportunities in Fisheries and Aquaculture sector of Andaman & Nicobar Islands on 14th November 2024 at Taj Exotica, Swaraj Dweep, Andaman & Nicobar Islands in the gracious presence of Union Minister Rajiv Ranjan Singh alias Lalan Singh, Ministry of Fisheries, Animal Husbandry & Dairying (MoFAH&D) and Ministry of Panchayati Raj along with George Kurian, Minister of State, MoFAH&D and Ministry of Minority Affairs, Prof. S.P. Singh Baghel, Minister of State, MoFAH&D and Ministry of Panchayati Raj, Admiral D K Joshi, PVSM, AVSM, YSM, NM, VSM (Retd.), Lieutenant Governor, Andaman & Nicobar Islands, Secretary (Fisheries), Department of Fisheries(DoF), MoFAH&D, Chief Secretary, Andaman & Nicobar Islands and other dignitaries. The event will also have participation from officials from the Department of Fisheries, State/UT Fisheries Departments, scientists, etc. Around 60 Investors from various parts of the country specializing in technologies related to Tuna and Seaweed will also be participating in the event.

The Andaman and Nicobar Islands offer a prime opportunity for fisheries development, with around 6.0 lakh square km of Exclusive Economic Zone (EEZ) rich in under-exploited sea resources, particularly Tuna and Tuna like high valued species, estimated at 60,000 metric tons. Their proximity to Southeast Asian countries enables efficient sea and air trade, while the pristine waters support sustainable fishing practices. Coupled with effective administrative measures, the region is well-positioned to leverage its marine resources for economic growth. The Investors’ Meet 2024 in the Andaman & Nicobar Islands offers a platform for knowledge exchange, networking, and business exploration, with sessions to promote public-private partnerships for sustainable growth in fisheries and aquaculture. The event includes lead presentations, B2B and B2G interactions, and strategy planning, aiming to drive investments in infrastructure, technology transfer, skill development, and innovation. Interactive sessions will highlight best practices, address private sector challenges, and foster Southeast Asian networking to explore new business opportunities and trade synergies in the sector. In addition, the event will also mark the launch of video for the development of a Tuna Cluster in Andaman & Nicobar Islands.

The fisheries sector recognized as the “Sunrise Sector” is a key growth driver in India’s economy and plays an essential role in enhancing national income, exports and food security, particularly benefiting rural areas. Over the past decade, the Government of India has led the sector’s transformation through flagship initiatives like PMMSY, FIDF, and the Blue Revolution, with an unprecedented investment of Rs 38,572 crore since 2015.

India exported 17.81 Lakh Tons of seafood worth Rs 60,523.89 crore during 2023-24. The seafood exports of India have more than doubled since FY 2013-14, an increase of 100 per cent despite pandemic imposed challenges in global markets. Indian seafood is exported to 129 countries with largest overseas market being USA. This has resulted in tremendous progress in seafood exports, which has increased with an average annual growth rate of 14% in the last 10 years.

The Department of Fisheries envisages to enhance fisheries exports to Rs 1 lakh crores by 2024-25. This initiative presents valuable opportunities for investors in the Andaman & Nicobar Islands (A&N). This initiative aims not only to increase exports but also to create significant employment opportunities in Andaman & Nicobar Islands. Key resources like tuna and seaweed are among the priority sectors for development, with a focus on fostering sustainable growth and maximizing the region’s economic potential. The Department of Fisheries is increasing its efforts on adoption of a cluster-based approach with an end-to-end value chain to drive growth in fisheries and aquaculture.

Around 60 Investors from various parts of

AgroPolicy, Animal Health, Animal Husbandry, Dairy, Dairy, India, Live Stock

Key Strategies discussed to boost Livestock Sector: Vaccination, Fodder Cooperatives, Disease Control

A Regional Review Meeting of the Northern States/UTs was held on 12th November 2024 in New Delhi under the chairmanship of Alka Upadhyaya, Secretary, Department of Animal Husbandry and Dairying (DAHD) under the Ministry of Fisheries, Animal Husbandry and Dairying. The meeting brought together Additional Chief Secretaries, Principal Secretaries, Secretaries, Directors and scheme officers from the Animal Husbandry and Dairying Departments of the Northern States/UTs including Punjab, Haryana, Uttar Pradesh, Jammu & Kashmir, Ladakh, Himachal Pradesh and Uttarakhand to discuss the progress of various departmental programs and schemes. Key officials of the department including Ms. Varsha Joshi, Additional Secretary and Shri Jagat Hazarika, Adviser (Statistics) were also present for the meeting.

During the meeting, Secretary DAHD reviewed the physical and financial progress of several key schemes, including the Rashtriya Gokul Mission (RGM), Entrepreneurship Development under the National Livestock Mission (NLM), the National Animal Disease Control Programme (NADCP) and the National Programme for Dairy Development (NPDD) During the meeting, progress of Government of India’s flagship LHDCP(Livestock Health and Disease Control Program), which focuses on vaccination against major diseases such as Foot-and-Mouth Disease (FMD),Brucellosis, PPR (Peste des Petits Ruminants) and Classical Swine Fever(CSF) was also reviewed, with discussions on the status of six-monthly vaccinations for cattle, buffaloes, sheep, and goats.

Discussions were also held on several other topics including components under Assistance to States for Control of Animal Diseases (ASCAD), the operationalization of Mobile Veterinary Units (MVUs) and the formation of “Pashukalyan Samities.” Alka Upadhyaya, urged the states to speed up vaccinations and increase reporting to prevent disease spread. She underscored the need for sero-surveillance and mentioned that the Foot and Mouth Disease (FMD) Free-zones should be a focus. Highlighting the importance of growth in the dairy sector, she emphasized upon the need to increase processing capacity and diversifying dairy products. Secretary, DAHD encouraged the States to spend funds for interest subvention under NLM. She asked the states to monitor claim-to-settlement ratio and review the progress constantly. On the issue of fodder production, she requested all the states to constitute fodder cooperatives. Increasing the coverage of the organized dairy sector, promoting Entrepreneurship Development Program (EDP) especially in the Goat, Pig and Poultry sector and optimising the infrastructure and wealth creation by taking the benefits of NLM and AHIDF were highlighted as strategic approaches to strengthen the livestock sector in the Northern region. Secretary, DAHD also emphasized the collective responsibility of all stakeholders to ensure the success of the ongoing 21st Livestock Census that plays a critical role in shaping future policies and programs for the Animal Husbandry sector and called for leveraging the latest technologies to achieve its successful implementation.

Key Strategies discussed to boost Livestock Sector:

Agribusiness, Finance, Funding, Investments

The company achieved a notable 226 per cent revenue growth over the previous quarter, reflecting strong market momentum.

Kisaan Parivar Industries Limited has released its financial results for the quarter and six-month period ending September 30, 2024, demonstrating remarkable growth and strong financial performance. For the current quarter, the company reported an impressive turnover of Rs. 240 Lakhs, contributing to a benchmark turnover of Rs. 346 Lakhs for the first half of the fiscal year. The company achieved a notable 226 per cent revenue growth over the previous quarter, reflecting strong market momentum. Gross profit before tax rose to Rs. 168.18 Lakhs for the six months ended September 30, 2024, while earnings per share increased to Rs. 1.43, underscoring the company’s profitability and shareholder value.

Rajani Nanavath, Managing Director of Kisaan Parivar Industries, expressed pride in the company’s accomplishments, emphasizing how the dedication to quality and excellence has enhanced brand value and customer trust. The company has announced plans to split its shares, a move aimed at improving accessibility for retail investors and positively impacting market perception by making shares more affordable for a wider range of small investors. Additionally, in response to the growth in business volume and strong investor sentiment, the company proposes to infuse additional capital to strengthen its resources, supporting ongoing business expansion.

Kisaan Parivar Industries remains committed to maintaining strict quality controls and effective production management to ensure sustainable growth and profitability. Nanavath expressed appreciation for the trust and support of the investors, noting that it boosts the company’s morale and competitive drive. Looking ahead, the company is exploring partnerships with leading NBFCs and Fintech firms to accelerate its growth and extend further benefits to the farmer community, reinforcing its mission to contribute positively to agriculture.

The company achieved a notable 226 per

Agribusiness, Agro chems – Chemicals, Agro chems – Fertilizers, Agro chems – Pesticides, Company News, Finance, Inputs, Seeds, World

In the agricultural business (Crop Science), sales decreased by 3.6 percent (Fx & portfolio adj.) to 3.986 billion euros.

The Bayer Group has reported third-quarter sales that were level with the prior-year period on a currency- and portfolio-adjusted basis (Fx & portfolio adj.), while earnings declined. In the agricultural business (Crop Science), sales decreased by 3.6 percent (Fx & portfolio adj.) to 3.986 billion euros. Sales of glyphosate-based herbicides declined by 19.1 percent (Fx & portfolio adj.) as purchasing patterns normalised and volumes decreased as a result, while a significant acreage reduction for corn in Latin America contributed to a similar decline in global sales of the Corn Seed & Traits business (Fx & portfolio adj. 19.3 percent). These negative effects were partially offset by substantially increased fungicide and insecticide sales, with growth rates of 13.1 percent and 9.5 percent (Fx & portfolio adj.), respectively.

EBITDA before special items at Crop Science increased to 35 million euros (Q3 2023: minus 24 million euros), mainly due to lower provisions for the Group-wide short-term incentive (STI) program and a decrease in the cost of goods sold. Earnings were negatively impacted by the slight decline in sales. There was a positive currency effect of 32 million euros (Q3 2023: 121 million euros).

“The development of the agricultural market has been weaker than anticipated, especially in Latin America, and the company also continues to face pricing pressure in the crop protection business, he said. Bayer is therefore lowering its 2024 targets for Crop Science. For 2025, Bayer is cautious on the agricultural market environment. Additional regulatory challenges and generic pricing pressures are set to put pressure on the crop protection business”, said Bill Anderson, Chief Executive Officer, Bayer.

In the agricultural business (Crop Science), sales

Agribusiness, Collaborations, India, Vegetables

The government had procured 4.7 lakh tons of rabi onion for the price stabilization buffer this year, and started the release from 5th September, 2024 through retail sale at Rs.35 per kg and also through bulk sales in major mandis across the country

The government has decided to upscale the onion disposal in order to address temporary constraint in onion supply observed in certain markets in the past 2/3 days owing to festival season and closure mandis. NAFED has indented two more rakes for Delhi-NCR and one for Guwahati this week. Similarly, dispatch through road transport would also be upscaled to ensure availability of onions in the market. The availability of onions would be further accentuated by more supplies from NCCF, both through rail and road transport. Additionally, the government has also decided to offload onions kept in cold storage at Sonipat to meet the requirements of Punjab, Haryana, Chandigarh, Himachal, J&K, Delhi etc. The government is alive to the market developments and keeping close watch to take ameliorative action to stabilise the onion prices.

As per the assessment of Department of Agriculture and Farmers’ Welfare, actual kharif sown area this year was 3.82 lakh hectare which is 34% higher than 2.85 lakh hectare sown last year. Sowing progress of late kharif onion is also reported to be normal with coverage of 1.28 lakh hectare till first week of November.

Earlier, 1,600 MT of onion transported by Kanda Express and arrived at Kishanganj Station in Delhi on 20th October, 2024, and another shipment of 840 MT of onion by rail rake to Delhi arrived on 30th October, 2024. Bulk shipment of onions has also been sent to Chennai and Guwahati in recent past. On 23rd October, 2024, 840 MT of onion had been dispatched from Nashik by rail rake which arrived at Chennai on 26th October 2024. A shipment of 840 MT onion by rail rake arrived at Changsari Station in Guwahati on 5th November, 2024 which was distributed in various district of Assam, Meghalaya, Tripura and other NE States.

Retail prices of tomato are on the decline with the fall in mandis prices. At Azadpur mandi, the weekly average price is down by 27% to Rs.4,000 per quintal and at Pimpalgaon the weekly average price is down by 35% to Rs.2,250 per quintal. In Madanapalle the weekly average price is down by 26% to Rs.2,860 per quintal amidst a 20% increase in total weekly arrivals. In Kolar the weekly average price is down by 27% to Rs.2,250 per quintal.

The all-India average retail prices of potato are stable during last three months at about Rs.37 per kg. The weekly average mandi prices of Rs.1,860 per quintal at Agra has been down by 15% during last week. As per the market intelligence inputs, overall Potato acreage is expected to increase by 16% this year with expected 10% increase in Punjab and Farrukhabad region in UP. In Madhya Pradesh, 80% sowing is completed and sowing area in Indore and Shajapur are reported to be up by 8% other areas like Ujjain region is at par with last year. In West Bengal, the sowing is yet to begin, but the sowing intentions according to the seed sales is reported to be higher than last year.

The government had procured 4.7 lakh tons

AgroPolicy, Finance, Microfinance

The allied activities receive only 10 per cent of the total agricultural credit while they contribute lion’s share of 40 per cent to the agricultural output

Department of Financial Services (DFS) reviewed the progress of credit disbursement to agri-allied activities such as animal husbandry, dairying and fisheries with Public Sector Banks (PSBs), NABARD and State/ UT Level Bankers’ Committee. Representatives of State Governments / UTs, Department of Animal Husbandry & Dairying and Department of Fisheries also participated in the discussions.

Government urged PSBs to take all necessary steps to ensure that respective targets are met during the current financial year, and stressed on the State Governments to facilitate banks in improving flow of credit to these sectors.

Experts underscored the importance of the allied sector in driving agricultural growth and its employment potential in rural area and highlighted the trend of regional disparity in credit disbursement in allied activities. The Government therefore directed banks to conduct regional level assessment/meetings to ensure disbursement of credit in all areas as all regions have huge potential in allied activities. NABARD is supposed to play a pivotal role in this regard, in terms of coordination with state line departments and LDMs in identification of fish farmers and providing them benefit of KCC scheme.

Government of India’s focus on seamless access to affordable credit to allied sector was brought to light and all stakeholders have been urged to take all necessary steps to increase credit flow to the sector.

The allied activities receive only 10 per

Acts & Schemes – Centre, Agribusiness, AgroPolicy, Opinions, Pulses

India’s urad import from Brazil has shown significant rise from 4,102 tonnes in the 2023 to over 22,000 tonnes till October end of 2024

Currently, India imports urad dal only from Myanmar, which has witnessed disruption in supplies because of internal security issues. Brazil is therefore believed to hold the potential to become a major source for the import of black gram (urad) and pigeon peas (tur) for the country. Government has therefore decided on sourcing the same for meeting domestic requirements.

According to Sources, trade in pulses with countries like Brazil and Australia has been uniquely advantageous because of the contrast in cropping seasons vis-a-vis India, which allows these countries to plan their cropping pattern based on India’s crop prospects.

In 2023, India is known to have imported 1.51 MT (lentil), 0.77 MT (tur or pigeon pea) and 0.59 MT (urad or black gram) from Australia, Canada, Myanmar, Mozambique, Tanzania, Sudan and Malawi. The government has adopted a consistent policy on imports by putting three varieties of pulses – tur, urad and masoor under zero-duty import duty regime till March, 2025 so that farmers in those countries can make decisions to grow pulses well in advance.

For instance, in case of chickpeas (chana), when India notified duty-free import of the commodity in May 2024, following lower rabi-2024 production, Australia responded with a massive increase in sowing area as the period coincided with the sowing season in that country. Australia’s chana production in 2024 is estimated at 13.3 lakh tonne against 4.9 lakh tonne in 2023, basically for export to India.

India's urad import from Brazil has shown

Agribusiness, Company News, Finance

The value-added agri portfolio (including Coffee, Fruits & Vegetables, Spices etc.) recorded robust growth during the quarter.

The Indian economy continues to demonstrate macro-economic stability even as high frequency indicators such as automobile sales, bank credit & personal loan growth, credit card transaction volumes, GST collections, merchandise exports growth, manufacturing PMI etc. pointed to a deceleration in the pace of economic activity during the quarter. The quarter also witnessed excessive rains in August and September and a resurgence in food inflation which led to CPI hitting a 9-month high. The combination of these factors along with inflationary trends in commodity prices weighed on consumption expenditure and the FMCG sector.

Agri products; Segment PBIT up 27.5 per cent YoY.  Strong growth in Leaf Tobacco exports leveraging strong customer relationships and new business development. Value-added agri portfolio (e.g. Coffee, Fruits & Vegetables, Spices) performed well in Q2 FY25.

The Company continues to engage with farmers to build crop resilience against extreme weather events through customised agronomy practices. The Climate Smart Agriculture programme covers over 28 lakh acres and about 7.5 lakh farmers in the country.

The value-added agri portfolio (including Coffee, Fruits & Vegetables, Spices etc.) recorded robust growth during the quarter. The Business continues to leverage the multi-dimensional capabilities of its state-of-the-art value-added Spices processing facility in Guntur to scale up exports.

 Agility in operations, strong customer relationships and new business development enabled robust growth in leaf tobacco exports. Steep escalation in green leaf tobacco costs and surge in ocean freight weighed on margins; this was partially mitigated through strategic cost management initiatives. The AI/ML powered real-time buying platform continues to be scaled up to facilitate efficient leaf tobacco buying across auction platforms.

The Business continues to scale up interventions to build crop resilience against extreme weather events across agri value chains (including wheat, tobacco etc.) thereby enhancing crop competitiveness and protecting farmer incomes.

ITCMAARS (Metamarket for Advanced Agriculture and Rural Services) – a crop-agnostic ‘phygital’ full stack AgriTech platform has been scaled up across ten states. Over 1650 Farmer Producer Organisations (FPOs) encompassing more than 1.7 million farmers have been added to the Company’s network.

The state-of-the-art facility to manufacture and export Nicotine & Nicotine derivative products conforming to US and EU pharmacopoeia standards, set up by the Company’s wholly owned subsidiary, ITC IndiVision Limited, which was commissioned recently, has received EU REACH approvals. Product trials have been successfully completed on a pilot basis; trials at scale are underway. Export shipments are expected to be scaled up progressively.

The value-added agri portfolio (including Coffee, Fruits

Agribusiness, Company News, Environment, Supply Chain, Sustainability, Transportation, World

Maersk aims to achieve net zero GHG emissions across its entire business by 2040, while Syngenta’s sustainability priorities are accelerating efforts to decarbonise its operations.

Syngenta Crop Protection, a global leader in agricultural innovation, and Maersk, a global integrator of logistics, announced the extension of their fourth-party logistics (4PL) partnership for an additional five years. This renewed collaboration underscores both companies’ commitment to responsible logistics through continuous supply chain optimisation and innovation.

A 4PL provider takes third-party logistics further by managing resources, technology, infrastructure, and other logistics providers to design, build, and deliver customised supply chain solutions. This concept is integral to Maersk’s Logistics & Services product offering and a key element of its strategy to provide its customers with leading supply chain management solutions from factory to final destination.

A cornerstone of the collaboration is the constant focus on more sustainable logistics, with both companies highly committed to reducing greenhouse gas (GHG) emissions throughout the supply chain. Maersk aims to achieve net zero GHG emissions across its entire business by 2040, while Syngenta’s sustainability priorities are accelerating efforts to decarbonize its operations and set clear targets for sustainable operations. Under the collaboration, regular reporting on emissions and ongoing dialogue on sustainability outcomes are key determinants of business performance.

Over the past eight years, Syngenta and Maersk have successfully navigated major disruptions thanks to significantly increased resilience, including the Covid pandemic and the Red Sea crisis and identified opportunities for reducing GHG emissions from Syngenta’s supply chain.

We are thrilled to extend our partnership with Maersk, a company that shares our commitment to sustainability and innovation. Syngenta and Maersk have a strong alignment in prioritizing sustainability and driving innovation. Our partnership has proven its value, and we look forward to achieving new milestones together by continuing to develop and implement cutting-edge solutions that optimize our supply chains, leveraging digital logistics and artificial intelligence.

Mike Hollands, Global Head of Production & Supply at Syngenta Crop Protection said, “The journey we are on together with Syngenta underpins Maersk’s position as an integrated logistics provider. We thrive by the success of our customers and contribute to this by developing solutions that optimise and simplify their supply chains. We are always looking to innovate on behalf of our customers and add further value to their business.”

“The extended partnership reinforces Syngenta’s and Maersk’s shared commitment to sustainability and innovation as industry leaders in driving efficient, resilient, and environmentally responsible supply chain solutions”, Dimitris Armenakis, Global Head of Managed by Maersk Product.

Maersk aims to achieve net zero GHG

Agribusiness, Agro chems – Chemicals, Agro chems – Pesticides, Company News

IIL has witnessed a growth in premium products by 11 per cent, with Focus Maharatna and Maharatna now constituting 68 per cent of total B2C sales in Q2 FY25, up from 65 per cent in Q2 FY24

Insecticides (India) Limited, one of India’s leading crop protection and nutrition company, announced its financial results for the quarter and half year ended September 30, 2024.

Q2 FY25 and H1 FY25 – Consolidated Financial Performance                  

Particulars (Rs. in Crs)Q2 FY25Q2 FY24Y-o-YH1 FY25H1 FY24Y-o-Y
Revenue from Operations627696-10%1,2841,336-4%
EBITDA90829%16112826%
EBITDA Margin (%)14.3%11.8%12.5%9.6%
Profit After Tax615316%1118234%
PAT Margin (%)9.8%7.6%8.6%6.2%
Insecticides (India) Ltd. (IIL) is one of India’s leading crop protection and Nutrition company. IIL boasts of an impressive product portfolio consisting of 20+ technical products and 125+ formulation products. With its iconic “TRACTOR BRAND” products, a trusted choice among farmers nationwide, IIL has fostered a strong and enduring bond with the farming community. The company is fully integrated with two technical synthesis plants, six formulation plants(including one EOU), and a biological plant under a toll arrangement, allowing for seamless operations across R&D, technical synthesis, formulation, and comprehensive marketing & extension activities. Tie-ups & Collaborations with international research giants like OAT Agrio Co. Ltd., Japan and Nissan Chemical Corporation, Japan, alongside four R&D centers (including a GLP-certified research facility in Chopanki), showcase our commitment to bring the latest international technology for the farmers. IIL foundation, an initiative by IIL, is involved in imparting knowledge to farmers regarding modern agricultural practices to improve their crop productivity. IIL has connect with 21,00,000+ farmers, 70,000+ dealers, 7,500+distributors. IIL prides of having great R&D capabilities and technical expertise to provide farmers with effective and innovative products.

IIL registered 7 per cent growth in B2C revenue, despite macro industry headwinds with unpredictable weather pattern particularly excessive & continued rain which delayed spraying season, impacting the overall growth in Q2FY25. Gross profit margins improved by 670 bps to 32% with focus on premium products and effective cost management on procurement side. The organization has exhibited continuous robust performance in premium products through New Product Launches, aggressive marketing activities and educating farmers with newer technologies.

Commenting on the results and performance, Rajesh Aggarwal,MD of Insecticides (India) Ltd. said: “We are pleased to announce our Q2 & H1 FY25 results, reflecting healthy performance across key financial and operational metrics. Achieving Net Profit of Rs 111 Crs in the first half, we have already surpassed the full FY24 profit of Rs 102 Crs—a testament to the strength of our strategy and execution. Our focus will remain on driving higher growth in premium products, underpinned by New Product Launches, more extensive demand generation and brand-building initiatives.

This quarter, the team has launched an innovative 9(3) herbicide for maize, Torry Super based on SPF technology, developed by in-house R&D team. SPF technology of Torry Super will provide faster results and long duration control of weeds. The pilot experiments are getting an overwhelming response of the Torry Superin maize of Rabi season in the southern & western part of the country, where the season has already begun. The Strategic emphasis remains on premiumization, capital efficiency and surplus cash generation with visible improvement across profitability, working capital & ROCE, ROE.

In a move to reward the shareholders, IIL completed a buyback of 500,000 fully paid-up equity shares at Rs 1,000 each, amounting to Rs 50 Crs, through internal accrual. With favorable market conditions and intense focus on premiumization, IIL expects healthy profit growth and leaner balance sheet as IIL progresses into this financial year.“

IIL has witnessed a growth in premium

Agribusiness, Digital Technologies, Drones, Farm Mechanisation, Finance, Industry Reports / Analysis, Investments, Machinery - Pre-harvesting, Machinery – Post-harvesting, Opinions, Supply Chain

Market Growth for Agricultural Equipment Finance Market is supposed to accelerate at the rate of 6 per cent during the forecast period, growth contributed by APAC being 48%

Agricultural equipment plays a crucial role in maintaining efficiency and productivity in farming operations. However, as equipment depreciates over time, the need for replacement arises. The replacement time frame varies depending on the equipment’s usage and risk of obsolescence. For instance, forklifts and tractors require regular maintenance and may need to be replaced more frequently than other equipment. In some countries, such as India, Bangladesh, and Pakistan, replacement policies and emission regulations are less stringent, leading to longer equipment usage. Advanced agricultural equipment is increasingly being adopted to enhance crop productivity. Equipment finance companies provide customized solutions to help agri-businesses manage the high investment costs. The global agricultural equipment finance market is witnessing continuous innovation, driven by the demand for more efficient and effective farming solutions. Small- and mid-sized farmers are seeking advanced equipment to gain a competitive edge. The high initial investment required for upgrading agricultural equipment presents a challenge, but the long-term benefits, including increased automation, output, and productivity, make it a worthwhile investment.

The global agricultural equipment finance market size is estimated to grow by USD 182.8 billion from 2024-2028. Quick and easy access to credit is driving market growth, with a trend towards replacement of outdated agricultural equipment with advanced equipment. However, turbulent economic and political environment poses a challenge. Key market players include Adani Group, AGCO Corp., Agricultural Bank of China Ltd., Argo Tractors SpA, Barclays PLC, BlackRock Inc., BNP Paribas SA, Citigroup Inc., Deere and Co., ICICI Bank Ltd., IDFC FIRST Bank Ltd., IndusInd Bank Ltd., JPMorgan Chase and Co., Key Corp., Larsen and Toubro Ltd., Mahindra and Mahindra Ltd., Rabobank Group, State Bank of India, The Capital Group Companies Inc., and Wells Fargo and Co.

The sector is experiencing significant trends that are shaping the industry. Credit scoring is becoming more important for finance companies to assess borrower risk. Fintech integration is streamlining the loan application process. Eco-friendly equipment is a growing focus, with demand for irrigation and planting equipment. Farm size influences financing options, with loans, leases, and lines of credit available for small, medium, and large farms. Investment in agriculture and food production demand continue to drive the market.

The Agricultural Equipment Finance Market is experiencing significant growth due to the increasing trend of farm mechanization and the adoption of advanced technologies like precision agriculture and drones in large-scale farming. Online finance platforms are revolutionizing the industry by providing quick loan approvals and real-time information transparency, making it easier for farmers to acquire the necessary equipment for their agricultural enterprise. Unsecured loans and alternative finance options are also becoming popular, especially among small-scale farmers. Farm loan waivers and equipment rental are other financing solutions that are gaining traction in the market. The demand for agricultural machinery such as tractors, combines, harvesters, planters, utility vehicles, and other equipment is on the rise, leading to an increased need for equipment finance. The Farm Service Agency (FSA) and other finance companies are playing a crucial role in facilitating equipment acquisition for farmers. Blockchain technology is expected to further disrupt the market by providing secure and transparent transactions. Overall, the Agricultural Equipment Finance Market is poised to witness growth in the coming years.

Market Growth for Agricultural Equipment Finance Market

Acquaculture, Agribiotechnology, Animal Health, Company News, Digital Technologies, Drones, World

GSA has come up with SPS 6.0 core, to meet Global Food Safety Initiative (GFSI) requirements

Global Seafood Alliance (GSA) is pleased to announce the official release of the Seafood Processing Standard (SPS) version 6.0. Key features of the standard include a restructured modular framework built around core food safety requirements covering both farm-raised and wild-caught seafood, ten separate modules to accommodate the specific production processes and products at individual facilities, and enhanced data capture, reporting and assessment technologies.

This new framework was designed specifically to improve audit efficiencies, provide elevated assurances for farm-raised and wild-caught seafood to consumers, and create a more customized, comprehensive certification option for seafood processors globally.

The ten modules of SPS Framework include-

Animal WelfareFor facilities involved and/or responsible for live animals and slaughter
Effluent DischargeFor non-remote wild processors discharging to natural water sources
Enhanced SocialUnannounced, requires specialized social and technical audit team, designed to meet Sustainable Supply Chain Initiative (SSCI) requirements
Finished Product TestingRequires product testing for medium to high-risk facilities
Low Acid Canned FoodsFor thermal processing and low acid canned products
OutsourcingFor facilities enlisting outsourced activities
Product IdentityFor facilities making claims related to Best Aquaculture Practices (BAP) or Best Seafood Practices (BSP) certification
Ready to EatFor facilities producing RTE products
Remote Wild-Caught EnvironmentalFor wild processors located in remote environments
Social ResponsibilityRequired for facilities that not electing the Enhanced Social module
With pilots underway, GSA will begin accepting all applications to SPS 6.0 in mid-2025 and fully replace Issue 5.1 beginning November 5, 2025.

GSA has come up with SPS 6.0

Acquaculture, AgroPolicy, Agrotech, Drones, India, Live Stock

This initiative aims to improve resilience against climate change by providing facilities like fish drying yards, processing centers, and emergency rescue facilities, while also supporting climate-resilient practices such as seaweed cultivation and green fuel initiatives.

Union Minister of State George Kurian inaugurates workshop on Application and Demonstration of Drone Technology in Fisheries and Aquaculture emphasising upon drone technology being the game changer in fisheries sector. As way forward towards transforming the fisheries sector in a holistic way and bringing about an economic upturn and prosperity through the Blue Revolution in the country the Department of Fisheries, MoFAH&D, Government of India, has announced cumulative investments to the tune of Rs 38,572 crore through various schemes.

During the Inaugural address George Kurian, Minister of State, Department of Fisheries and Ministry of Minority Affairs highlighted the initiatives taken by the department of Fisheries and the remarkable growth of India’s fisheries sector, propelled by strategic investments and progressive policies over the past decade. Union Minister of State announced the development of 100 climate-resilient coastal fishermen villages under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), with Rs 2 crore allocated per village to enhance infrastructure and promote sustainable livelihoods. This initiative aims to improve resilience against climate change by providing facilities like fish drying yards, processing centers, and emergency rescue facilities, while also supporting climate-resilient practices such as seaweed cultivation and green fuel initiatives. The Minister highlighted the role of drone technology in monitoring aquaculture farms and fisheries infrastructure, especially during disasters, and revealed plans to equip one lakh fishing vessels with transponders for real-time tracking, weather alerts, and communication, with an investment of Rs 364 crores.

Since its inception, the Pradhan Mantri Matsya Sampada Yojana (PMMSY) has focused on promoting sustainable, economically viable, and inclusive growth in the fisheries and aquaculture sector. Key initiatives include modern aquaculture practices, satellite-based monitoring, and recent exploration of drone technology for fish transport, surveillance, and environmental monitoring.

 Drones offer a range of applications to numerous challenges in aquaculture, with key critical areas of intervention including water sampling and identification of diseases and fish feed management. The scope also extends to managing aquaculture farms, monitoring fish marketing, assessing damage to fisheries infrastructure and rescue operations during natural disasters. For instance, underwater drones, can monitor fish behaviour in their natural habitats as well as signs of distress such as erratic swimming patterns.

The Department of Fisheries, MoFAH&D, organized a Workshop on Application and Demonstration of Drone Technology in Fisheries and Aquaculture on 8th November 2024 at ICAR- Central Marine Fisheries Research Institute (CMFRI), Kochi, Kerala. The event took place in the gracious presence of Shri George Kurian, Hon’ble Minister of State, Department of Fisheries and Ministry of Minority Affairs along with Dignitaries, Scientists, State fisheries officials, Fishermen and fisherwomen. The Workshop on Application and Demonstration of Drone Technology provided a unique platform to showcase innovative technological advancements, emphasizing the transformative role of drone technology in the fisheries sector to maximize its potential. Many fishermen, fisherwomen, scientists, entrepreneurs, students, and other delegates participated in the event.

Dr Grinson George, Director of CMFRI, set the welcome note to the gathering and set the context for the one-day workshop. This was followed by opening remarks from Dr B K Behera, Chief Executive, NFDB, who highlighted various schemes and initiatives, encouraging stakeholders in the fisheries sector to take advantage of these benefits.

Neetu Kumari Prasad, Joint Secretary (Marine), addressed the gathering, highlighting the benefits of the flagship scheme Pradhan Mantri Matsya Sampada Yojna and reaffirming the Department of Fisheries’ commitment to scaling up the fisheries sector. It was emphasized that the Department of Fisheries has consistently championed the infusion of technology to drive sustainable development in the fisheries and aquaculture sectors. Through various schemes, it has introduced advancements to boost fish production, improve resource management, and increase operational efficiency. In line with these initiatives the department in collaboration with NFDB, has organized drone demonstrations at key locations, including the Central Inland Fisheries Research Institute (CIFRI) in Barrackpore, Kolkata, and Gyan Bhawan in Patna, Bihar.

Dr. V V Suresh, Head Mariculture division and startup EyeROV Technologies pvt. Ltd. presented on the application of drone technology and its challenges in the fisheries sector.  Following this the distribution of “Cadalmin BSF PRO” a specially formulated fish feed designed to support sustainable aquaculture practices to farmers was also held. In addition, a brochure, titled “EG Sailas Centre of Excellence and Innovation,” was launched, highlighting key advancements and contributions to the field of marine fish microbiome and nutrigenomics. Furthermore, the session also marked the official launch of the Marine Biological Association of India (MBAI) National Symposium, an event aimed at fostering collaboration and knowledge-sharing among marine science professionals across the nation.

This initiative aims to improve resilience

Agbiologicals, Agribusiness, Herbicides, R&D

 Company anticipates sale of Rs 70 crores from ″Bestman″ within the launch year, with projected incremental growth of Rs 250 crores in the ensuing years.

Best Agrolife Group, a frontrunner in innovative crop protection solutions, has received the regulatory approval of a patented herbicide ″Shot Down″ and the under-patent advanced insecticide ″Bestman. ″ This approval paves way for the company for launching these innovative products in Q4FY24. While ″Bestman″ will see traction in the Rabi season itself, ″Shot Down″ will see effective sale in the Kharif season.

These two new products align with Best Agrolife’s strategy of introducing at least 2-3 patented products annually, having already introduced Nemagen, Defender and Warden Extra in H1FY24. The company is confident that these innovative products will strengthen its market leadership and foster a sustainable revenue growth.

″Shot Down″, a proprietary herbicidal formulation combining Haloxyfop-R-methyl and Imazethapyr in a Microemulsion (ME) formulation, offers farmers a robust tool for controlling invasive weeds across groundnut and soybean crops. The product targets a segment valued at approximately Rs 2,000 crores. Best Agrolife is targeting an initial revenue of Rs 70 crores from ″Shot Down″ in its first year of launch, and expects to grow sales to around Rs 300 crores over the next few years as it gains traction and popularity among groundnut and soybean farmers nationwide.

Also set to debut in early 2025, ″Bestman″ is an advanced insecticide blend of Fipronil, Abamectin and Tolfenpyrad in a suspension concentrate (SC) formulation. This under patent formulation provides effective control against multiple pests such as aphids, thrips, mites, and the notorious fruit borer. These pests are particularly challenging for chilli farmers and this product provides a single shot solution. Slated for introduction during the peak season for chilli crops, ″Bestman″ will help farmers derive higher yields.

With an estimated market segment size of Rs 3000 crores in pest management solutions for chilli, cotton and vegetable crops, Best Agrolife anticipates sale of Rs 70 crores from ″Bestman″ within the launch year, with projected incremental growth of Rs 250 crores in the ensuing years.

This latest development signifies an advancement in Best Agrolife Group’s mission to support sustainable agriculture through indigenous innovation, further strengthening its role in the Indian government’s Aatmanirbhar Bharat initiative to reduce reliance on imported agrochemicals through R&D.

 Company anticipates sale of Rs 70 crores