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Home2024 (Page 35)
Agribusiness, Agro chems – Chemicals, Agro chems – Fertilizers, Agro chems – Pesticides, Finance, India

Company’s EBITDA Q1 grows 64.5 per cent Y-O-Y to Rs. 71.72 Crore

Dhanuka Agritech, one of the leading agrochemicals companies in India reported financial results for the first quarter of 2024-25 financial year. Gurugram-headquartered firm clocked Rs. 48.90 crore profit during April-June quarter of FY’25, up 48.5 per cent from the same quarter of the previous fiscal year. Total income grew 33.27 per cent to Rs. 500.71 Crore in the first quarter of this fiscal from Rs. 375.72 Crore in the corresponding period of FY’24.

Commenting on the Q1 performance, Mahendra Kumar Dhanuka, Vice Chairman & Managing Director said, “The year has started on a positive note, and we have witnessed decent demand for all our product categories during the first quarter. The timely arrival of the monsoon and dwindling inventory levels have contributed to increased orders from the distribution network, setting a positive trajectory for the company.”

“I am happy to inform you that the sowing season is in full swing in July and the sowing acreages for major crops are expected to be higher in the ongoing season, particularly in the wake of the prediction of a normal monsoon. The management is confident of delivering healthy growth in the second quarter and improving the EBITDA margins,” added Dhanuka.

Dhanuka Agritech is also dedicated to introducing new technologies to the agriculture sector. The company conducts training programs nationwide to demonstrate these technologies and educate farmers on the proper use of agrochemicals. Notably, in India, the consumption of agrochemicals per acre remains significantly lower than the global average.

Company’s EBITDA Q1 grows 64.5 per cent

Horticulture, India, Supply Chain, Trade, Transportation

The BLR airport handled 2.7 million pieces of mangoes, registering a 59 per cent rise in volume compared to the previous season.

The Kempegowda International Airport (KIA) has shipped 822 tonnes of mango in 2024, marking a 20 per cent year-on-year growth. The airport handled 2.7 million pieces of mangoes, registering a 59 per cent rise in volume compared to the previous season showcasing both the increasing demand for Indian mangoes in overseas markets and the airport’s operational efficiency in handling perishable exports. This is based on the momentum built from the previous year when BLR shipped 685 MT of mangoes.

Bangalore International Airport Ltd. (BIAL) mentioned that last year 685 tonnes of mango were exported. In this season a total of 27 lakh pieces were exported to 60 international destinations.

According to BIAL this season, mango exports to U.S. destinations surged, with airports such as Washington Dulles, Dallas–Fort Worth, and San Francisco emerging as the top destinations for Indian mango shipments. With an extensive export network of over 60 international destinations, including prominent airports like Chicago, Seattle, Dubai, London, and Houston, the KIA continues to pave the way for Indian agricultural products to reach global markets seamlessly and efficiently.

With robust logistical capabilities, strategic partnerships and steady support for India’s agricultural sector, BLR Airport continues to strengthen its position as a leader in facilitating the export of high-quality fresh produce, further solidifying its role as a catalyst for economic growth and trade development, stated the official release.

Satyaki Raghunath, chief operating officer, BIAL, said, “The KIA’s technologically advanced cold storage facility WFS BLR Cool port plays a crucial role in preserving the quality of the perishable produce throughout the supply chain. This achievement of substantially increasing our mango exports year-on-year reaffirms our position as a premier gateway that meets the growing demand for Indian mangoes, particularly two key international destinations.”

The BLR airport handled 2.7 million pieces

Agribusiness, Company News, Foodgrains, India, Supply Chain, Trade

Strategic move of the company to meet the growing global demand of the Basmati rice.

KRBL Limited, renowned for its flagship range- India Gate Basmati Rice, the World’s No. 1 Basmati Rice brand*, is thrilled to reveal its product range at Tesco, the largest and most well-known supermarket chain in the UK. This ensures that India Gate Foods’ premium Basmati range is easily accessible for delivery to customers across the United Kingdom.

As a leader in the basmati rice industry, India Gate Foods has consistently established the benchmarks for rice quality and innovation. The availability of KRBL’s products at Tesco emphasizes KRBL’s dedication to offering consumers unmatched access to high-quality basmati rice and other products. Amidst the growing demand of high-quality Basmati in global markets, this strategic move marks a significant milestone as it broadens KRBL’s global reach. Shifting from a B2B to a B2C relationship through availability of products at Tesco allows the brand to engage directly with customers who have expressed their preference for “premium, aged, long grain basmati.”

” Introducing our India Gate Basmati Rice range at Tesco not only bolsters our global market presence but also highlights our dedication to delivering high-quality and exclusive products. We are devoted to expanding our export network into new regions, including Europe and North America, through strategic collaborations and enhanced product offerings. Our goal is to make the India Gate Basmati rice and KRBL product range accessible to a broader audience, allowing them to enjoy the rich heritage and superior flavour of our products, and to use the finest quality rice for creating various delicacies.” said Akshay Gupta, Business Head for Bulk Exports, KRBL.

KRBL worked in partnership with Golden Acre Foods to secure the launch.  Based in the UK, Bcorp certified company, Golden Acre Foods are experts in bringing global brands to UK supermarkets.  They are Tesco’s strategic partner in World Foods and are renowned for their full-service approach, providing end to end support and guidance for brands wanting to enter the UK market.   The launch of India Gate Basmati Rice in Tesco will provide a great platform for future growth.

“Tesco’s tremendous community of 2,904 retail stores throughout the UK will provide us with great enterprise opportunities, and we are expecting a tremendous raise in our sales in the European region. Launching our products at Tesco isn’t about expanding our footprint but also about establishing KRBL as a trusted household name in the global market.” Gupta added.

KRBL is optimistic about achieving positive growth driven by continued expansion in the domestic market and increased exports.

Strategic move of the company to meet

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

Company’s Crop Science division posts slight increase in sales and sharp fall in earnings.

The Bayer Group generated increased sales and lower earnings in the second quarter of 2024. Each business delivered a competitive performance in their respective industries, positioning the Group to confirm its 2024 outlook. “Our Crop Science business nearly offset headwinds in a challenging agricultural market environment,” CEO Bill Anderson said while presenting the company’s half-year financial report.

Group sales rose by 3.1 percent on a currency- and portfolio-adjusted basis (Fx & portfolio adj.) to 11.144 billion euros in the second quarter of 2024. There was a negative currency effect of 240 million euros (Q2 2023: 553 million euros). EBITDA before special items decreased by 16.5 per cent to 2.111 billion euros. This figure included a negative currency effect of 129 million euros (Q2 2023: 120 million euros). The decline in earnings was mainly due to an unfavourable product mix. In addition, the provisions for the Group-wide short-term incentive program were lower in the prior-year period. EBIT improved to 525 million euros (Q2 2023: minus 956 million euros) after net special charges of 490 million euros (Q2 2023: 2.490 billion euros). The special charges primarily related to expenses for ongoing restructuring measures and affected all divisions and functional areas. Net income amounted to minus 34 million euros (Q2 2023: minus 1.887 billion euros).

Business up slightly at Crop Science

In the agricultural business (Crop Science), sales increased by 1.1 percent (Fx & portfolio adj.) to 4.981 billion euros. Growth was mainly driven by higher sales of glyphosate-based herbicides, with a particularly strong performance in North America. Despite a decline in sales of non-glyphosate-based products, the Herbicides strategic business entity posted overall growth of 8.7 percent (Fx & portfolio adj.). Sales at Soybean Seed & Traits increased by a significant 12.4 percent (Fx & portfolio adj.), mainly thanks to substantially higher volumes in North America. Business was also up at Insecticides, with growth of 6.9 percent (Fx & portfolio adj.). By contrast, sales at Fungicides were down amid a soft market environment, falling 12.4 percent (Fx & portfolio adj.) as a result of lower volumes and prices in North and Latin America. Sales also decreased at Corn Seed & Traits, which saw a decline of 2.8 percent (Fx & portfolio adj.) that was mainly attributable to lower volumes in Latin and North America amid a decline in planted acreages.

EBITDA before special items at Crop Science decreased by 27.7 percent to 524 million euros, partly due to an unfavourable product mix. By contrast, there was a positive currency effect of 49 million euros (Q2 2023: negative currency effect of 96 million euros).

Group outlook confirmed

Bayer confirmed its Group outlook for full-year 2024. “We remain on track to deliver,” Anderson said. For the Crop Science Division, the company expects currency- and portfolio-adjusted sales growth and the EBITDA margin before special items to come in at the lower end of the projected ranges (between minus 1 and plus 3 percent, and between 20 and 22 percent, respectively). For the Pharmaceuticals Division, Bayer has upgraded its forecast for currency- and portfolio-adjusted sales growth to between 0 and 3 percent (previously: between minus 4 and 0 percent).

Company’s Crop Science division posts slight increase

Agribusiness, India, Interaction

In an exclusive conversation with Agrospectrum, Dr Neeraj Agarwal, Director and Chief Operating Officer, Resvera Winery revealed the entire ecosystem of India’s wine sector.

How do you envisage the future of Indian wine export?

The rapid growth of the Indian wine industry is the result of the individual efforts of a few entrants, such as Chateau Indage, Sula Vineyards in Maharashtra, and Grover Vineyards in Bangalore. The Indian wine industry has only been around for three decades, but it has already managed to initiate and establish its own wine industry. Compared to well-established wine regions that have been producing wine for centuries and that too in temperate climate conditions, we are producing wines in a climate that is classified as subtropical rather than tropical. For the time being, Indian wines have attained a certain degree of quality; but, in order for them to be accepted in western countries, they need to be introduced there. Therefore, efforts are required in this regard.

How does India fare in comparison to other global wine producers, and what changes need to be made so that the country may become a winemaking powerhouse?

Indian wines are still in the process of developing their image and are not even close to competing with global wine makers. Efforts are required in the direction of research and development in grape growing and wine making because there is still research work being done in India to improve grape production and quality as well as wine making. In order to popularise Indian wines, it is necessary to take it to global consumers in order to explain Indian wines and provide them with the taste of Indian wines.

To what extent does India’s wine industry have the resources and technology to produce high-quality wine at par with international norms?

The environment that we have is our best bet since it provides an abundance of sunlight throughout the year, which is essential for the growth of high-quality grapes as well as the development of sugar and flavours in grapes, which is necessary for the production of high-quality wines. However, there is a pressing need for research and development.

What are the most pressing problems preventing the Indian wine industry from expanding exports, and how may these be remedied?

In order to increase the demand for Indian wines in international markets, it is necessary to communicate with consumers from around the world, provide them with information about our wines, and provide them a taste of our wines. Additionally, it is necessary to gain an understanding of the characteristics that consumers from around the world want in Indian wines and then work to make wines that are suitable for international markets.

What are your expectations from the current government?

The Indian government ought to make it possible for indirect publicity to be spread about wines, and interstate barriers ought to be removed. Label registration fees and license fees should be reduced in each state in order to facilitate the development of the domestic market, which has a significant potential for expansion. This will, in turn, provide an opportunity to improve the rural economy through the creation of jobs in rural areas and the expansion of wine tourism in rural areas, given that wineries are dependent on grapes and fruits. There is a need for wineries to be built in rural regions since there is raw material available there; this presents an opportunity to boost the rural economy.

When comparing India’s wine exports to today, what changes stand out?

The export of Indian wines has been a lucrative route that has effectively taken us into the world arena. There have been several reasons for this success. Despite the fact that the volume of Indian wine exports is still relatively low in comparison to the sales of domestic wines or imported wines in India, the category has been steadily growing since the implementation of Covid. Furthermore, the category will continue to be a major focus area for all domestic wine producers in order to ensure that their brands are recognised on a global scale. In India, the majority of the market consists of sales of wines that are either domestically produced or imported.

How well does India’s wine industry have the resources and technology to make international-standard wine?

A significant number of the efforts that have been taken to make Indian wines comparable in terms of quality to those produced by global powerhouses have been validated by the numerous accolades that have been won by local producers over the course of the previous 10 years. As a result of this, we at Fratelli are increasing our utilisation of technology and exerting more effort than we ever have before, both in the vineyards and in the winemaking facilities, in order to guarantee that we continue to make progress and set new benchmarks for ourselves each year.

At this point, India has already made significant progress, and the gap that exists between us and other global powerhouses is narrowing with each passing year. On the other hand, there are a few conditions that will make it possible for us to narrow the gap even further. These conditions include more consistent taxation policies across the nation and technical advancements in the viticulture sector.

By Nitin Konde

In an exclusive conversation with Agrospectrum, Dr

Acquaculture, AgroPolicy, India, Live Stock, Trade

The reduction in import duties on various ingredients /inputs for manufacture of prawn and shrimp feed/fish feed announced in Budget 2024-25 will help in increase of exports.

As a result of the various efforts made by the Government, India’s seafood exports have increased from Rs. 46,662.85 Crore in 2019-20 to Rs. 61043.68 Crore in 2023-24 registering a growth of 30.81 per cent.

The Government regularly monitors and reviews export performance, including that of marine products, along with export promotion bodies and the Indian missions abroad with the objective of enhancing exports vis-a-vis previous year. Internal targets are used for monitoring purpose only, and have been fixed at USD 7.86 billion for 2024-25.

The Government through Marine Products Export Development Authority (MPEDA), a statutory organization under administrative control of Department of Commerce provides assistance for upgrading the infrastructure facilities for value addition, establishing testing laboratories, participating in international trade fairs, and providing technical assistance for aquaculture production meant for exports, etc.

The reduction in import duties on various ingredients /inputs for manufacture of prawn and shrimp feed/fish feed announced in Budget 2024-25 will make Indian seafood-based value-added products more competitive in international markets and help in increase of exports. The reduction of import duties include from 15 per cent to Nil on Fish lipid Oil (HS 1504 20) & Algal prime (flour) (HS 2102 2000) , from 5  per cent to Nil on Krill meal (HS 2301 20), Mineral and Vitamin Premixes (HS 2309 90 90), from 30 per cent to Nil on Crude Fish Oil, from 15 per cent to 5 per cent on Prawn and shrimps feed (2309 90 31) and fish feed (2309 90 39), from 30 per cent to Nil on pre-dust breaded powder.

The Government has also increased the Remission of Duties and Taxes on Export Products (RoDTEP) from 2.5 per cent to 3.1 per cent for various seafood products and with maximum value cap per kg increased to Rs. 69.00, which will also encourage export of such products.

Furthermore, the Department of Fisheries, Govt. of India is implementing flagship scheme namely Pradhan Mantri Matsya Sampada Yojana (PMMSY) with an investment of Rs 20050 crore in fisheries sector for a period of 5 years i.e. FY 2020-21 to FY 2024-25 with an objective of promoting exports from the fisheries sector. The scheme intends to address critical gaps in fish production and productivity, quality of catch/harvests, technology infusion, post-harvest infrastructure, modernization and strengthening of value chain, reduction of post-harvest losses, traceability etc. Since 2020-21, the Department of Fisheries, Government of India has approved proposals to the tune of Rs. 1283.47 crore for development of cold chain infrastructure under PMMSY which includes construction of 586 cold storages, modernization of 78 cold storages/ice plants and 26588 post-harvest transportation facilities.

This information has been provided by the Union Minister of State for Commerce and Industry, Jitin Prasada in a written reply in the Rajya Sabha.

The reduction in import duties on various

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