🎄🌟 🎉 Wishing our readers a Merry Christmas and a Happy New Year filled with new possibilities! 🎄🌟 🎉
Connect with:
Thursday / December 26. 2024

logo
mobile-logo
Home2024November (Page 5)
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

AgroPolicy, Foodgrains, India, Supply Chain, Warehousing

Paddy procurement in KMS 2024-25 has so far benefitted 6.58 lakh farmers in Punjab with an MSP value of Rs 27995 crore.

A total quantity of 126.67 LMT of paddy has arrived in the Punjab mandis as of 8th November 2024, out of which 120.67 LMT has been procured by State agencies and Food Corporation of India (FCI). The paddy is being purchased at MSP @ Rs 2320/- per Quintal as decided by Government of India for Grade ‘A’ paddy and the total paddy purchased by Government till date in the ongoing KMS 2024-25, amounts to Rs 27995 crore benefitting around 6.58 lakh farmers, in Punjab. Further, 4839 millers have applied for shelling of paddy and 4743 Millers have already been allotted work by Punjab State Government.

The Procurement of Paddy for KMS 2024-25 has commenced in Punjab from 1st October 2024 and 2927 designated mandis and temporary yards are operational throughout the State for smooth procurement from the farmers of Punjab. Central Government has fixed an estimated target of 185 LMT for Paddy Procurement for the ongoing KMS 2024-25 which shall continue up to 30.11.2024.

The paddy lifting from the mandis is in full swing and the paddy lifted is more than the daily arrival quantity. As such paddy procurement is going on smoothly.

Paddy procurement in KMS 2024-25 has so

Agro Universities, Animal Husbandry, India, Live Stock, R&D

Laboratory to play a key role in Global fight against Equine Piroplasmosis; a blood-borne disease affecting horses, donkeys, mules, etc.

In a landmark achievement for India’s Animal Health Sector, the Department of Animal Husbandry & Dairying (DAHD) under the Ministry of Fisheries, Animal Husbandry and Dairying has facilitated the designation of Indian Council of Agricultural Research-National Research Centre on Equines, Hisar (ICAR-NRC Equine) as a World Organisation for Animal Health (WOAH) Reference Laboratory for Equine Piroplasmosis. This global recognition underscores DAHD’s sustained commitment to enhancing India’s scientific capabilities, diagnostic infrastructure, and leadership in tackling critical animal health challenges.

As per the 20th Livestock Census, India possesses around 0.55 million Equines (horses, ponies, donkeys, mules) that plays a significant role in various livelihoods and industries. This population includes around 0.34 million horses and ponies, 0.12 million donkeys, and 0.08 million mules, with states like Uttar Pradesh, Rajasthan, Gujarat, and Haryana having the highest concentrations. WOAH Reference Laboratory status not only affirms India’s adherence to the highest international standards in research and diagnostics but also reinforces India’s contributions to global animal health. NRC Equine will now play a key role in international collaborations, providing advanced diagnostic services, sharing technical expertise, and leading research initiatives on equine piroplasmosis. This recognition makes ICAR-NRC Equine the fourth laboratory in India’s Animal Husbandry sector to receive WOAH Reference Laboratory status, joining ICAR- National Institute of High Security Animal Disease, Bhopal (Avian Influenza); Veterinary College, Karnataka Veterinary Animal and Fisheries Sciences University, Bangalore (Rabies); and ICAR- National Institute for Veterinary Epidemiology and Disease Informatics, Bangalore (PPR and Leptospirosis).

The official designation of ICAR-NRC Equine as a WOAH Reference Laboratory will be formally announced at the 92nd WOAH General Session and World Assembly of Delegates in May 2025. This milestone achievement is a step towards advancing India’s diagnostic capabilities, establishing partnerships, and solidifying India’s leadership in animal health. It also highlights India’s growing influence in global animal health, particularly in combating equine piroplasmosis, a disease with substantial implications for the international equine industry.

About Equine Piroplasmosis disease:

Equine piroplasmosis, caused by the tick-borne protozoan parasites Babesia caballi and Theileria equi, affects horses, donkeys, mules, and zebras and poses a serious threat to the health of these animals, with significant economic impact. It has a reported seroprevalence rate of 15-25% across India. In certain high-risk regions, this prevalence can reach up to 40%, resulting in severe economic losses due to decreased productivity, health deterioration, and restrictions on the movement and export of equines. Recognizing the need for rigorous control and early diagnostics, DAHD has prioritized NRC Equine as India’s National Reference Center for equine diseases and the institute has developed cutting-edge diagnostic tools for Equine Piroplasmosis such as ELISA based on recombinant antigen, Indirect Fluorescent Antibody Test, Competitive ELISA for antibody detection and blood smear examination, MASP in-vitro culture system, and PCR for antigen detection.

Laboratory to play a key role in

Agro Universities, Agrotech, Collaborations, Company News, Drones

The initiative aims to nurture a generation of innovators and entrepreneurs who can bring transformative ideas to India’s agricultural landscape.

Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST) Kashmir, in collaboration with AVPL International, has successfully commenced an intensive training program on the third day of the event to advance drone technology skills among aspiring agritech professionals. With funding from the Ministry of Micro, Small, and Medium Enterprises (MSME), this specialised training aims to enhance the precision and profitability of farming practices through the integration of drone technology. With initiatives like this, SKUAST aims to nurture a generation of innovators and entrepreneurs who can bring transformative ideas to India’s agricultural landscape.

The program, hosted at SKUAST’s Center for Artificial Intelligence and Machine Learning (CAIML), has drawn many participants from diverse academic and professional backgrounds, reflecting the growing interest in tech-driven agriculture. The training sessions, led by prominent industry experts, focus on key drone technologies and their applications in sustainable farming, including the use of multispectral cameras and thermal imaging for enhanced crop yield and soil health.

AVPL International, an innovator in drone technology, has played a pivotal role in the training sessions. Himanshu Sharma, CEO of AVPL International, emphasized the critical role of precision farming in ensuring sustainable agriculture. “Sustainable farming can only be achieved through precision farming, and AVPL International is committed to advancing technology in this field. The right choice of drones and technology, including innovations such as AI-driven imaging and IoT integration, is essential for creating viable and impactful solutions,” Sharma said.

Prof. Nazir A. Ganai, Vice Chancellor of SKUAST, praised AVPL’s role in revolutionizing farming with drone technology, stating, “AVPL has been a leader in integrating drone technology into agriculture, significantly contributing to both farming efficiency and environmental sustainability.”

The program was also attended by Dr. Himanshu Parhak, Director General of ICAR Sher-e-Kashmir, who lauded the collaborative efforts at SKUAST, including the CAIML’s initiatives in artificial intelligence and machine learning, which are expected to drive future advancements in agricultural technology. Dr. Showkat Rasool, the Program Coordinator and head of CAIML, also highlighted the essential role of industry collaboration in building a strong, tech-savvy workforce equipped for the demands of modern agriculture.

Experts from across India, including IoTechWorld Avigation, MACFOS LIMITED, and IIT Mandi, also contributed their expertise to the sessions. Their involvement provided students with hands-on experience in essential technologies, such as AI and IoT-integrated drones, underscoring the benefits of drone-based crop management, which include enhanced crop quality, increased yield, and reduced labor costs.

The initiative aims to nurture a generation

Agribusiness, Company News, Finance, India, Logistics, Supply Chain

Company posted revenue of Rs.2,941 crores H1 FY25 as compared to Rs.2,658 crores in H1 FY24.

Mahindra Logistics Ltd. (MLL), one of India’s integrated logistics & mobility solutions providers, announced its unaudited consolidated financial results for the quarter and half year ended 30th September, 2024. In Q2 FY25 company’s revenue stood at Rs 1,521 crores as compared to Rs. 1,365 crores in Q2FY24. EBITDA is at Rs 66 crores as compared to Rs 54 crores same period in previous year. Company reported Profit Before Tax Rs 5.0 crore as compared to Rs. (8.2) crores previous year. Company’s Profit After Tax loss stood at Rs 10.7 crores compared to Rs. 15.9 crores in Q2 FY24.

Company posted revenue of Rs.2,941 crores H1 FY25 as compared to Rs.2,658 crores in H1 FY24. Company’s EBITDA stood at Rs133 crores as compared to Rs.120 crores previous year. Company reported Profit Before Tax Rs 7.5 crores H1 FY25 as compared to Rs. (7.6) crores in H1FY24. Profit After Tax stood at Rs 20.1 crores as compared to Rs (24.5) crores previous year.

 Company’s overall Revenues during Q2 FY25 demonstrated a strong growth of 11.5 per cent on YOY across businesses. Continued the focus on expanding capacity and making investments in the Eastern and North Eastern region, focussing on warehouses, delivery stations and express logistics.

The revenues for Freight forwarding the business grew by 65 per cent on YoY basis on the back of improved pricing in Ocean freight. The losses for the Express business were reduced by 32 per cent on YoY basis, driven by continuous cost optimization. The EBITDA losses were also reduced by 10 per cent on QoQ basis.

Commenting on the performance, Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics Ltd. said, “During the quarter, we saw strong revenue performance with year-on-year growth of 11.5 per cent. Our 3PL contract logistics, cross border and last mile delivery segments registered strong growth driven by account additions, new offerings and a stable cross border pricing environment. During the quarter, we expanded our offerings for transportation & green logistics. We continue to expand the overall network, with new infrastructure expansions in the east to support warehousing, last mile and express segments, which should help drive future growth. With the upcoming peak in Q3, we have expanded capacity and resources in contract logistics and last mile delivery, having a seasonal impact on operating earnings in the quarter. A soft demand environment and operating conditions impacted the express business. We believe H2 will be stronger driven by the festive peak and impact of margin improvement programs across all the businesses.”

Company posted revenue of Rs.2,941 crores H1

Agribusiness, Company News, Farm Mechanisation, Finance, India, Machinery - Pre-harvesting, Machinery – Post-harvesting

Company has surpassed its all-previous monthly records with an outstanding 20,056 tractor sales in the month October 24.

India’s leading tractor export brand Sonalika Tractors announced that company has reached a new pinnacle of its highest ever monthly overall sales record of 20,056 tractors in Oct ’24. The biggest monthly performance in the history of Sonalika Tractors is line with its mission to make it simpler for farmers to own a customised tractor and embrace sustainable farm prosperity.

Sonalika Tractors continues to be trusted brand that is driving transformational growth among farmers as well as uplifting the agriculture domain with the most powerful heavy-duty tractors. During the biggest festive season, the company’s annual ‘Heavy Duty Dhamaka’ offer assured advanced tech powered tractors at reasonable prices for farmers and be an important support mechanism for farmers to surge ahead in life. With its widest dealership network in the country, the company ensured to seed correct product placement customised as per regional farmer requirements and deliver on its commitment to quality with every tractor to offer exceptional performance.

Sharing his thoughts on this unprecedented achievement, Raman Mittal, Joint Managing Director of International Tractors Limited, expressed, ‘We are thrilled to have surpassed all previous monthly records with an outstanding 20,056 tractor sales, marking a proud moment shared with our farming community. Our greatest motivation lies in ensuring that every farmer has access to the right tractor–one that is reliable, customized, and uniquely suited to their needs–supporting their journey toward sustainable prosperity. As we celebrate this milestone performance of the year, this accomplishment renews our commitment to advancing the next generation of intelligent, heavy-duty tractors tailored to empower farmers at every step.’

Company has surpassed its all-previous monthly records

Agro chems – Chemicals, Agro chems – Fertilizers, Agro chems – Pesticides, Finance, World

FMC Corporation confirms full-year outlook adjusted for expected sale of GSS business

FMC Corporation reported third quarter 2024 revenue of $1.07 billion, an increase of 9 percent versus third quarter 2023 and up 12 per cent organically. On a GAAP basis, the company reported net income of $0.52 per diluted share in the third quarter, up from a net loss of $0.03 per diluted share in the third quarter 2023 driven by higher sales and lower costs from restructuring actions as well as a lower effective tax provision. Adjusted earnings were $0.69 per diluted share, an increase of 57 per cent versus third quarter of 2023.

Third Quarter Adjusted EPS versus Prior-Year Quarter
Adjusted EBITDA+25 cents
Interest Expense+4 cents
Depreciation & Amortization+2 cents
Minority Interest-1 cent
Taxes+3 cents
Rounding-1 cent
“We delivered revenue and earnings growth as market conditions improved although at varying rates across the regions,” said Pierre Brondeau, FMC chairman and chief executive officer. “Strong volume growth in Latin America and North America more than offset lower pricing, particularly in Brazil and Argentina which accounted for two-thirds of the total company price decline. Despite suboptimal market conditions, we saw increased demand for new products, specifically fluindapyr-based fungicide products, which confirms the strength of FMC’s innovation pipeline.”

Revenue growth in the quarter of 9 per cent was driven by a 17 per cent increase in volume, with some North America second half orders occurring earlier than expected due to improved channel inventory levels. Price was lower by 5 per cent, driven primarily by Latin America due to challenging market conditions in Brazil and Argentina including delayed rains and elevated channel inventory. In addition, the bankruptcy of a large customer led FMC to offer additional incentives to replace lost volumes and maintain market share. Sales in Asia declined 10 per cent (down 12 per cent organically) due to volume declines, mainly in India, as well as lower pricing. In Latin America, revenue improved 8 per cent year-over-year (up 15 per cent organically).
FMC RevenueQ3 2024
Total Revenue Change (GAAP)9%
Less FX Impact(3)%
Organic1 Revenue Change (Non-GAAP)12%

Third quarter adjusted EBITDA was $201 million, an increase of 15 per cent versus the prior-year period and above the top-end of our guidance range. Higher sales volume, FX tailwinds and above-target restructuring benefits more than offset lower pricing and the recognition of unabsorbed fixed costs from lower manufacturing activity in prior periods.

Full-Year 2024 Outlook
The company is confirming its full-year 2024 outlook for sales and EBITDA and updating its outlook for adjusted EPS. The midpoints for sales and EBITDA are adjusted for the imminent sale of the GSS business, which is expected to close in early November. Full-year revenue guidance has tightened to be in the range of $4.33 billion to $4.44 billion, representing a 2 per cent decrease at the midpoint versus 2023. Mid-single digit volume growth is expected to be more than offset by price and, to a lesser extent, FX headwinds. Full-year adjusted EBITDA range has been narrowed and is expected to be $885 million to $915 million, an 8 percent decline at the midpoint versus prior year. The range for 2024 adjusted earnings per share is updated to be $3.16 to $3.52 per diluted share, representing a decrease of 12 percent year-over-year. The tax rate range is narrowed to 13 to 15 percent, a 150 bps reduction versus prior guidance at the midpoint. The company is maintaining its full-year free cash flow guidance range of $400 million to $500 million.

Fourth Quarter Outlook

The fourth quarter outlook has been adjusted to reflect the imminent sale of the GSS business ($20 million loss in revenue and $10 million loss in EBITDA) and outperformance in Q3. Fourth quarter revenue is now expected to be in the range of $1.30 billion to $1.41 billion, a 19 per cent increase at the midpoint compared to fourth quarter 2023. Adjusted EBITDA is forecasted to be in the range of $321 million to $351 million, representing a 32 per cent increase at the midpoint versus fourth quarter 2023. FMC now expects adjusted earnings per diluted share to be in the range of $1.47 to $1.83 in the fourth quarter, which represents an improvement of 54 per cent at the midpoint versus fourth quarter 2023.

FMC Corporation confirms full-year outlook adjusted for