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HomePosts Tagged "agriculture business"
Country, India, Trade, Vegetables, World

Fruits and vegetables, cereals, livestock, and processed foods witnessed a spike in exports this fiscal

Exports of agricultural and processed food products have increased by 25 per cent within six months of the current Financial Year 2022-23 (April-September) in comparison to the corresponding period of FY 2021-22. According to the provisional data released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), the overall export of agricultural and processed food products has witnessed a growth of 25 per cent during April-September 2022.

The overall export of Agricultural and Processed Food Export Development Authority (APEDA) products increased to $13,771 million in April-September 2022 from $11056 million over the same period of the last fiscal year. The initiatives taken by the Ministry of Commerce and Industry through APEDA have helped the country achieve 58 per cent of its total export target for the year 2022-23 within six months of the current fiscal.

For the year 2022-23, an export target of $23.56 billion has been fixed by APEDA for the agricultural and processed food products basket and export of $13.77 billion have already been achieved in these six months of the current fiscal. As per the DGCI&S provisional data, processed fruits and vegetables recorded a significant growth of 42.42 per cent (April-September 2022), while fresh fruits registered 4 per cent growth as opposed to corresponding months of the previous year.

Also, processed food products like cereals and miscellaneous processed items reported a growth of 29.36 per cent compared to the first six months of the previous year.

In April-September, 2021, fresh fruits were exported to the tune of $ 301 million which increased to $313 million in the corresponding months of the current fiscal. Exports of processed F&V jumped to USD 1024 million in six months of the current fiscal from $719 million in the corresponding months of the previous year.

The export of pulses has witnessed an increase of 144 per cent in Q2 of the current fiscal in comparison to the corresponding months of the last fiscal as the export of lentils increased from $ 135 million (April-September 2021-22) to $ 330 million (April-September 2022-23).

Basmati Rice exports witnessed a growth of 37.36 per cent in six months of FY 2022-23 as its export increased from $ 1660 million (April-September 2021) to $ 2280 million (April-September 2022), while the export of non-Basmati rice registered a growth of 8 per cent in Q2 of current fiscal. Its export increased to USD 3207 million in six months of the current fiscal from $ 2969 million in the corresponding months of the previous year.

The export of meat, dairy and poultry products increased by 10.29 per cent and the export of other cereals recorded a growth of 12.29 per cent in six months of the current fiscal. The poultry products alone registered a growth of 83 per cent as its export rose to $57 million within the half-year bracket of the current fiscal from $31 million recorded for the corresponding months of the previous year.

Similarly, dairy products recorded a growth of 58 per cent as its export rose to $ 342 million in Q2 of the current fiscal from $216 million in Q2 of the previous year.

Wheat export registered an increase of 136 per cent in Q2 of the current fiscal. Wheat export rose to $1487 million in April-September 2022 from $630 million in April-September 2021.

Other cereals’ export increased from $ 467 million in April-September 2021 to $525 million in April-September 2022 and the export of livestock products increased from $ 1903 million in April-September 2021 to $ 2099 million in April-September 2022.

Fruits and vegetables, cereals, livestock, and processed

Company News, Sustainability

The company is working directly with farmers around the world on initiatives that protect, regenerate, and restore the land

Cargill is working directly with farmers around the globe to focus on advancing nature-positive agriculture production and farmer-centric approaches to sustainably.

Nature-positive production focuses on limiting the destruction and depletion of land by evolving the techniques proven to increase volume and efficiency, while adopting regenerative agriculture practices that prioritise land sustainability. By doing so, farmers can feed more people and address climate change.

These practices include planting cover crops and implementing reduced- or no-till farming to help sequester carbon in the ground, build soil resilience and improve water quality. One way Cargill is helping make these practices more tenable for farmers is through RegenConnect, a voluntary market-based programme that pays farmers per ton of carbon captured in their soil.

“If we’re going to succeed in sustainably transforming our food and agriculture system, we have to help farmers take a nature-positive approach,” says Pilar Cruz, Cargill’s Chief Sustainability Officer. “That’s why we’re working directly with farmers around the world on initiatives that protect, regenerate, and restore the land. This is how we will make a meaningful difference, one field and one farm at a time.”

Another way Cargill is helping farmers make sustainable agriculture economically feasible is by ensuring they receive a premium for sustainably sourced crops. Through the Triple S (sustainability sourced and supplied) soy program in South America, Cargill provides customers in Asia, Europe and North America certified deforestation-free soy from farmers in Brazil, Paraguay and Argentina.

These programmes demonstrate how scaling sustainable agriculture requires removal of the financial and market access barriers that still exist in farming.

The company is working directly with farmers

Agrotech

The company plans to impact the lives of 1 crore farmers by 2025 by leveraging its tech infrastructure

Unnati, a FinTech-driven agriculture ecosystem, however, has stayed well ahead in terms of utilising FPOs and robust tech infrastructure to enhance farmers’ lives and revolutionise the agriculture sector. The latest announcements by the government will help further the platform’s work and create a robust Agri ecosystem in India.

Giving farmers access to tech-led business solutions to enhance their economic strengths and market linkages, Unnati empowers them through FPOs, thereby increasing farmers’ overall income. The platform equips FPOs to leverage their collective strengths and bargaining power to access financial and non-financial farm inputs, services, and technologies to optimise transaction costs and tap into high-value markets.

Furthermore, Unnati has envisaged impacting small farmers by directly supporting FPOs through a host of services, including digital payments, banking, output sale, loans, brand promotions, and agri advisory and farm predictions.

Commenting on Unnati’s FPO partnership and the government’s latest policies, Amit Sinha, Co-Founder of Unnati, said, “Unnati has been committed to building a robust ecosystem where farmers can gain easy access to the market, know their inputs and increase the quality of their yield. We have partnered with FPOs to do the same. The latest policies announced by the government will help us take this to the next level and create a robust agriculture ecosystem where farmers can reap the benefits of having access to a technologically sound working system. On the back of the Budget, we will continue to work towards the betterment of farmers’ lives through a digital agri network.”

Unnati plans to partner with 10k+ FPOs which will subsequently impact the lives of 1 crore farmers by the year 2025.

The company plans to impact the lives

Finance

Year-over-year sales grew 25 per cent organically

FMC Corporation has recently reported a record of fourth quarter 2021 results with revenue of $1.41 billion, an increase of 23 per cent versus fourth quarter 2020, driven by strong demand and pricing actions. Excluding the impact of foreign exchange, year-over-year sales grew 25 per cent organically. On a GAAP basis, the company reported earnings of $1.52 per diluted share in the fourth quarter, compared to $0.38 per diluted share in the fourth quarter 2020. Adjusted earnings were $2.16 per diluted share, an increase of 52 per cent versus fourth quarter 2020, and 16 cents above the midpoint of guidance.

“Our financial performance reflects the strength of our synthetic and biological portfolios, a healthy demand environment as well as accelerating price increases. Revenue growth was particularly robust in North America and Latin America,” said Mark Douglas, FMC president and chief executive officer.

Fourth quarter revenue growth was driven by 21 per cent contribution from volume and 4 per cent contribution from price with a 2 per cent currency headwind. FMC achieved higher pricing in all regions, with the highest benefit in the quarter coming from North America and Latin America. 

In Asia, revenue was down 3 per cent compared to fourth quarter 2020, primarily due to weather challenges in several countries, including China. This offset solid growth in Australia and India, as well as broad-based pricing actions in the region.

Year-over-year sales grew 25 per cent organicallyFMC

Finance

Benson Hill will release its financial results for the fourth quarter and full year ending December 31, 2021 

Benson Hill, a provider of crop design platform to develop healthier and more sustainable food and ingredients has announced recently that it will release its financial results for the fourth quarter and full year ending December 31, 2021 and provide guidance for 2022, before market open on March 28, 2022.

The Company will host a webcast to discuss the results at 8:30 am. Eastern Time, including a presentation by management followed by a Q&A session.

Benson Hill moves food forward with the CropOS platform, a cutting-edge food innovation engine that combines data science and machine learning with biology and genetics. 

Benson Hill will release its financial results

AgroPolicy, Foodgrains

The minister stated that the planned inter modal terminal at Kalughat, Bihar with Rs 78 crore will provide boost to region’s socio-economic development

Union Minister Piyush Goyal, Minister for Consumer Affairs, Food and Public Distribution, Textiles and Commerce & Industry has said that the Pilot movement of food grains on vessel from Patna (Bihar) to Pandu (Guwahati) will open a new gate to the ‘Gateway of North East’. Addressing virtually on the occasion of “Flagging off of vessel” MV Lal Bahadur Shastri carrying food grains from Patna to Pandu and unveiling of foundation stone for terminal at Kalughat (Bihar) on February 5, 2022.

Piyush Goyal said that this 2,350 km voyage will open a new gate to the ‘Gateway of North East’ (Assam) and ensure seamless waterways connectivity to NE Region through Ganga & Brahmaputra rivers. He said that flagging of the vessel named ‘MV Lal Bahadur Shastri’ reminds me of Shastriji’s slogan “Jai Jawan Jai Kisan”.

The minister stated that the planned intermodal terminal at Kalughat, Bihar with Rs 78 crore will provide boost to region’s socio-economic development and create multiple job opportunities. This will also help decongest the roads of North Bihar and provide an alternative route for transportation of cargo in this area. He further said that this route from Patna can prove to be a viable alternative to the conventional mode of movement of foodgrains & goods for NE region.

The Minister also mentioned that India-Bangladesh friendship is reaching new heights under Prime Minister Narendra Modi & HE Sheikh Hasina. This event is another milestone and a testament to ever-growing friendship between India and Bangladesh, he said. This first food grain movement will be an integrated IWT movement via National Waterway-1 (river Ganga), NW-97 (Sunderbans), Indo-Bangladesh Protocol (IBP) route and NW-2 (river Brahmaputra).

The minister stated that the planned inter

Finance

UPL has delivered another quarter of strong business performance in a challenging environment

UPL Limited has recently reported financial results for the third quarter of FY22 (Oct-Dec 2021). Q3 FY22 revenue witnessed robust growth of 24 per cent YoY to reach Rs 11,297 crore, led by healthy growth in volumes (+11 per cent) and better product realisations (+13 per cent). Further, Q3 FY22 EBITDA grew by 21 per cent YoY to Rs 2,666 crore as against Rs 2,209 crore in Q3 FY21.

Commenting on the performance, Jai Shroff, CEO – UPL Limited, said “UPL delivered another quarter of strong business performance in a challenging environment with growth across all regions except India. We are confident of continuing this business momentum and ending the fiscal year 2022 on a strong note.” “We also undertook multiple initiatives to re-imagine sustainability and in Q3, we successfully raised a sustainability loan of $700 million.”

He added, “At the same time, furthering our commitment to the Gigaton challenge, our digital platform ‘nurture.farm’ successfully completed its Crop Residue Management Program, thereby preventing release of over 1 million tons of carbon emissions. Taken together, these initiatives underscore UPL’s commitment to sustainability as we continue to raise the bar for the industry as a whole with UPL being ranked once again as the #1 global crop protection company amongst its peers by Sustainalytics in its 2021 ESG rankings.”

UPL has delivered another quarter of strong

Company News, Finance

The company also reported PBT of Rs 7 crores as compared to Rs 25 crores in Q3 last year

Mahindra Logistics Limited (MLL), one of India’s large 3PL solutions providers, has announced its consolidated financial results for the quarter ended on December 31, 2021 with revenue at Rs 1118 crore as compared to Rs 1047 crore in Q3 last year and EBITDA at Rs 50 crore against Rs 55 crore last year.

The company also reported PBT Rs 7 crores as compared to Rs 25 crores in Q3 last year and PAT Rs 5 crores compared to Rs 18 crores last year. For the nine months in FY22 revenue was Rs 3010 crore as compared to Rs 2290 crore last year and EBITDA at Rs 149 crore against Rs 101 crore.

Further the company reported that the revenue from warehousing services and solutions in the quarter grew 35 per cent over the same period last year underlining the focus on solutions-led approach to customer’s requirements.

Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics, said, “The quarter gone by was a challenging one. Demand from the auto sector continued to be impacted due to semi-conductor supplies; and the festive season too saw moderate growth. We continued to deliver strong revenue performance, especially across Consumer, Pharma and International freight forwarding. Our margins saw pressure due to seasonal manpower costs, lower than expected demand and start-up costs for new projects. The focus continues to be on optimising operating costs. We remain focused on delivering technology driven, integrated solutions for enterprise customers.”

The company also reported PBT of Rs

Company News, Inputs

The products add to an already robust rice herbicide portfolio for ADAMA.

ADAMA has announced that it has received registration by the US Environmental Protection Agency (EPA) for two rice herbicides: Diverge Silk and Diverge EC.

Diverge Silk and Diverge EC are propanil herbicides that provide effective control of grasses and broadleaf weeds in rice. Diverge Silk is a novel suspension concentrate formulation that offers rice growers improved quality and handling for reliable weed control without the hassle of clogged up spray tanks or nozzles. Diverge Silk is registered in AR, CA, FL, LA, MO, MS and SC. Diverge EC is a cost-effective, high-quality propanil formulated right here in the US and is only registered for use in AR.

These products add to an already robust rice herbicide portfolio for ADAMA. Over the last several years, we have launched two rice systems in collaboration with RiceTec: Preface and Postscript herbicides as part of the FullPage Rice Cropping Solution and Highcard herbicide as part of the Max-Ace Rice Cropping Solution, as well as two other foundational rice herbicides, Vopak 3ME and Zurax L.

The National Conservation Systems Cotton & Rice Conference will be held in Jonesboro, AR the last week in January. This event pulls in a great audience consisting of consultants & growers from across the Delta.

The products add to an already robust

Environment, Pulses

USA Dry Pea Lentil Council hopes for improved talks on India tariffs to continue the pulse trade with India.

USA Dry Pea & Lentil Council (USADPLC), the highest quality producer of lentils, dry peas, and chickpeas for national and international markets, has exuberantly laid out a vision for a healthy and viable 2022. As per the USADPLC, the year 2022 glances over sustainable development goals, including good health and well-being. In addition to the objective of a sustainable year, USA Dry Pea Lentil Council hopes for improved talks on India tariffs to continue the pulse trade with India.

Speaking about the prospects for 2022, Sachin Khurana, India Representative, USADPLC, said, “India is an extremely crucial market for our exporters. We remain hopeful that the trade barriers will be resolved in 2022, and the pulses trade relation between India and the US will return to normalcy. Also, in 2022, we will continue to strengthen our sustainability story and educate Indian importers, traders, and consumers about the benefits of sustainable commodity – Pulses.”

Khurana added, “In 2022, USADPLC is also aiming to focus on ‘Standard for Quality’ – an initiative to highlight the quality and premium standard of US Pulses. Through this campaign, we aim to engage with retailers and spread awareness amongst consumers about the superior quality of US Pulses.” 

USA Dry Pea Lentil Council hopes for

Environment, Finance

This investment is part of the National Institute of Food and Agriculture’s Agriculture and Food Research Initiative (AFRI)

The US Department of Agriculture has announced a $9 million investment in new Cooperative Extension and USDA Climate Hubs partnerships to bolster climate research and connect and share climate-smart solutions directly with the agricultural community.
 
“The Cooperative Extension system and the USDA Climate Hubs have unmatched capacity to reach agricultural, Tribal and undeserved communities, as well as educators and students, and our nation’s farmers directly,” said Agriculture Secretary Tom Vilsack.
 
This investment is part of the National Institute of Food and Agriculture’s Agriculture and Food Research Initiative (AFRI), the nation’s leading competitive grants programme for agricultural sciences. This new AFRI program area provides effective, translatable and scalable approaches to address climate change through regional partnerships, including the USDA Climate Hubs, and further extends outreach through organisations such as the Cooperative Extension Service.
 
“These new NIFA-funded projects will work toward net-zero emissions in agriculture, working lands and communities adapted to climate change, training a diverse workforce that can communicate and incorporate climate considerations into management and climate justice that is appropriate for unique US agronomic conditions,” said NIFA Director Dr Carrie Castille.

The initial six funded projects include:

  • University of California (Davis) 
  • Pennsylvania State University 
  • Montana State University 
  • Ohio State University 
  • The Desert Research Institute Native Climate 
  • The USDA Caribbean Climate Hub 

This investment is part of the National

Agrotech, E-commerce

StoreHippo’s agritech solutions are powered by MACH architecture which gives the agro-based brands freedom to experiment and implement hybrid business models.

Agritech is a booming sector and India alone is home to 1000+ Agro-based startups. However, the sector has its own challenges. StoreHippo, the next-generation e-commerce platform is offering agritech brands build next-gen solutions for their unique business requirements and move ahead of their competition.

StoreHippo’s agritech solutions are powered by MACH (Micro services, API-first, Cloud-native, and Headless) architecture which gives the agro-based brands complete freedom to experiment and implement hybrid business models.

Some of StoreHippo’s exclusive offerings that facilitate agritech brands are:

  • Hyperlocal marketplace model to enable businesses to run hyperlocal marketplace powered by dealers who can streamline local deliveries more efficiently.
  • A complete solution to build and manage multiple storefronts from a centralised admin.
  • Multilingual website and admin panel to facilitate farmers and other stakeholders in doing business in their local languages.
  • Mobile apps and mobile-first solutions to reach sellers, dealers and customers on their mobile apps.
  • Complete B2B and D2C e-Commerce solutions to enable wholesale and retail business channels from a single agritech portal.
  • Seamless integrations with chosen payment channels, delivery partners, marketing tools, ERP, CRM, accounting software etc.
  • Inbuilt delivery boy solution so farmers and dealers can manage their own fleet of delivery boys.

According to Rajiv Kumar Aggarwal, Founder & CEO, StoreHippo, “The next agricultural revolution is happening in the digital space. Agriculture which contributes 20 per cent to Indian GDP needs a major facelift to align with the changing market and customer demands. Innovative agritech solutions are bringing data-driven insights to farmers for better yield, crop protection, sustainability and growth. The agriculture sector also needs easy and quick access to the market to help agri-producers and sellers get better ROI for their hard work. To connect the various tools and technologies for better agro-production, distribution and sale the agriculture sector needs uniquely designed cutting edge agritech solutions. StoreHippo offers broad-spectrum agritech solutions that can modernise and streamline agriculture as a profitable business for all stakeholders. The agile and flexible StoreHippo platform can be easily modified at the front-end and the back-end to accommodate the unique requirements of agriculture.”

StoreHippo’s agritech solutions are powered by MACH

AgroPolicy, Interaction

Discussions were held on training of fish farmers on sustainable practices in Andhra Pradesh

Dr Poonam Malakondaiah, IAS, Special Chief Secretary, Agriculture and Cooperation, AHDD & Fisheries, Government of Andhra Pradesh recently visited the ICAR-Central Inland Fisheries Research Institute, Barrackpore, Kolkata for an interface meeting on “Encouraging Fish Culture Technologies in Large Water Bodies with Special Emphasis on Enclosure Culture in Andhra Pradesh”. Dr Malakondaiah was accompanied by K Kanna Babu, Commissioner of Fisheries, Government of Andhra Pradesh.

In her address, Dr Malakondaiah underlined the state activities and Ventures of the Fisheries Sector like Farmer Field Schools in collaboration with state universities and the establishment of a Fisheries University at West Godavari District. She also highlighted the two major areas of concern for the fisheries in Andhra Pradesh, viz., training of farmers on sustainable practices and focusing on the quality of produce rather than quantity. Dr Malakondaiah stressed on the long and sustainable partnership with the ICAR-CIFRI for the development of Inland Fisheries Sector in Andhra Pradesh.

Babu underlined the possibility of partnership with the ICAR-CIFRI in future for promoting the cage culture in the Reservoirs of Andhra Pradesh. He also expressed his concern regarding the low domestic consumption of fishes in Andhra Pradesh even though the State leads in aquaculture production.

Earlier, delivering the welcome address, Dr BK Das, Director, ICAR-CIFRI, Barrackpore, Kolkata briefed the dignitaries about the Institute’s activities and achievements. 

Discussions were held on training of fish

Logistics, Supply Chain

The MoU will further expand Jammu & Kashmir-Dubai collaboration and Jammu Kashmir-LuLu Group partnership.

The Jammu and Kashmir government has signed a memorandum of understanding (MoU) with Dubai-based Lulu group to set up a food processing and logistics hub in Srinagar on January 6, 2022.

The MoU was signed in Dubai in the presence of Lieutenant Governor Manoj Sinha and LuLu Group Chairman MA Yusuff Ali.

This agreement was signed by J&K Principal Secretary (Industries & Commerce) Ranjan Prakash Thakur and LuLu Group Executive Director Ashraf Ali MA at Dubai.

Commenting on the occasion, Manoj Sinha said the MoU with the LuLu group will further expand Jammu & Kashmir-Dubai collaboration and Jammu Kashmir-LuLu Group partnership.

“Relations between India and the UAE are long-standing and deep-rooted. People-to-people contact and trade have seen momentum in the recent years under the leadership of Prime Minister Narendra Modi,” the Governor said.

“The world-famous GI tagged saffron has been launched at LuLu Hypermarket, which I see as a major step towards boosting Jammu Kashmir and Dubai partnership. LuLu Group is already importing apples from Jammu Kashmir and with saffron, we are adding Kashmir’s finest spice to the basket. I am certain this new beginning will take our trade to unprecedented levels,” he added.

The MoU will further expand Jammu &