Connect with:
Saturday / July 6. 2024

logo
mobile-logo
HomePosts Tagged "apples"
Agrotech, Company News, Investments

The company aims to expand and diversify its B2B brand, Fasal Fresh, procuring sustainably grown, fully traceable, and high-quality produce from its extensive network of growers covering 75,000+ acres of Farmland enabled by Fasal’s IoT-crop intelligence technology

TDK Corporation announced that TDK Ventures, Inc. has invested in India’s full-stack agriculture pioneer Fasal, in an INR 100cr round co-led by British International Investments to foster its innovative full-stack horticulture optimisation solution and bring it to market. Fasal’s solution has already been proven to improve crop yield and reduce operational costs at an affordable price to the individual farmer. This financing round provides further ammunition to Fasal in its mission to transform the Indian agriculture industry with its full-stack platform anchored on top of its patented IoT-crop intelligence technology and expand further to Southeast Asia markets.

Since the commercialisation of its technology, Fasal has worked with horticulture farmers spanning more than 75,000+ acres growing crops like grapes, pomegranates, bananas, apples, chilli, cardamom, etc. by enabling them to grow more and grow better with its patented IoT-crop intelligence technology. Fasal’s farmers have reduced irrigation water consumption by 82.8 billion litres, pesticide reduction by 127,426 kgs, curbed GHG emissions by 54,965 MT, and increased their yields and quality by up to 30 per cent with the help of technology. Fasal has gone deeper into the value chain by building technology to predict the exact harvesting time, yield, and tentative quality and is utilising this intelligence to bring this sustainably grown, traceable, and high-quality produce to the consumers via its B2B brand ‘Fasal Fresh’.

The company highlights that its technology platform has a traceable supply of over half a billion USD worth of produce, connecting seamlessly with demand across various consumption markets in the supply chain, ensuring 10x more efficient procurement thereby reducing wastages significantly. This technology platform empowers the company to synchronise supply with the most appropriate demand directly at the farm gate before the harvest itself.

The company aims to expand and diversify

Horticulture, World

French apples are anticipated to reach 1.5 million tonnes, marking an 8 per cent increase from 2022 and a 10 per cent rise from the three-year average with a range of well-known varieties available

The French National Apple and Pear Association (ANPP) has announced that it is bucking a three-year trend with the return of a larger crop of French apples in 2023.

According to the data from the organisation, French apples are anticipated to reach 1.5 million tonnes, marking an 8 per cent increase from 2022 and a 10 per cent rise from the three-year average with a range of well-known varieties available, including Gala, Granny Smith, Golden, Candine, Kissabel, Lolipop, Honeycrunch and organic apple Juliet. This year’s harvest, unaffected by significant weather challenges like drought or storms, promises exceptionally sweet and flavourful apples.

The news comes after it was announced the total European apple harvest is expected to reach 11 million tonnes, 6.7 per cent below 2022.

Daniel Sauvaitre, President, of ANPP, said: “French orchardists dedicate themselves year-round to delivering high-quality apples adhering to Eco-friendly Orchards label, a standard trusted by consumers. The 2023 harvest appears promising and is poised to meet the expectations of GCC consumers in both quantity and quality. Despite rising production costs in the industry, apples remain an affordable choice for consumers, even amid high inflation.”

As part of a three-year plan to support French apple producers in exporting their products to the GCC market, the European Union and Interfel, the French fresh fruit and vegetable interprofessional organisation, have undertaken a series of initiatives to promote French apples to consumers in the Middle East region and will again be highlighting the fruit through a series of activations. 

As part of the outreach program for 2023/24, a total of 444 tasting sessions will take place throughout the GCC, while a series of activations showcasing French apples in malls in Jeddah, Riyadh, Muscat, Doha, and Kuwait are planned, as well as a presence at Taste of Dubai.

French apples are anticipated to reach 1.5

Horticulture, North America, Supply Chain, Trade

Removal of additional retaliatory duties and additional rates for the import of US apples, walnuts and almonds will not result in any negative impact on domestic producers

With the decision to resolve six outstanding World Trade Organisation (WTO) disputes between the US and India through Mutually Agreed Solutions in June 2023, India has withdrawn additional duties on eight US-origin products, including apples, walnuts and almonds vide notification number 53/2023 (Custom).

Additional duties of 20 per cent each on apples and walnuts and Rs 20 per kg on Almonds were imposed on the US’s products in 2019 over and above the Most Favoured Nation (MFN) duty as a retaliation to the US’s state protectionist measure of increasing tariffs on certain steel and Aluminium products. These additional duties imposed by India on US-origin products have been withdrawn as the US agreed to provide market access to Steel and Aluminium products under the exclusion process. There is no reduction on the Most Favoured Nation (MFN) duty on apples, walnuts and almonds, which still applies to all imported products, including US-origin products, at 50 per cent, 100 per cent and Rs 100 per kg, respectively.

Further, DGFT, vide its notification number 05/ 2023 dated 8 May 2023, made an amendment in import policy for Apples under ITC (HS) 08081000 by applying MIP (Minimum Import Price) of Rs 50 per Kg for imports from all countries except Bhutan. Therefore, this MIP will also apply to apples from the US and other countries (excluding Bhutan). This measure would protect against the dumping of low-quality apples and from any predatory pricing in the Indian market.

This measure will not result in any negative impact on domestic apple, walnut and almond producers. Rather, it will result in competition in the premium market segment of apples, walnuts and almonds, thereby ensuring better quality at competitive prices for our Indian consumers. Thus, the US apples, walnuts and almonds would compete on the same level playing field as all other countries.

The market share of the US apples dwindled as other countries benefited from the imposition of additional retaliatory duties on the US apple and walnut imports. This is evident in the increase of apple imports from countries besides the US, from $ 160 million in FY 2018-19 to $ 290 million in FY 2022-23. Turkey, Italy, Chile, Iran, and New Zealand emerged as prominent apple exporters to India, effectively acquiring the market share once held by the US. Similarly, in the case of walnuts, the imports increased from $ 35.11 million in FY 2018-19 to $ 53.95 million in FY 2022-23, and Chile and UAE became the largest exporters to India. In the last three years, the import of almonds has been about 233 thousand MT, while domestic production is only 11 thousand MT, and India is highly dependent on imports. Therefore, the removal of additional duties will now ensure fair competition among the countries which are exporting these products to India.     

Removal of additional retaliatory duties and additional

AgroPolicy, Horticulture, Supply Chain, Trade

Apples from the US to compete on the level playing field with other countries

With the decision to the resolution of six outstanding World Trade Organisation (WTO) disputes between the US and India through mutually agreed solutions as jointly communicated during the official state visit of the Prime Minister to the USA, India will remove additional duties on eight US products, including apples.  

The decision will not result in any negative impact on domestic apple producers and will result in competition in the premium market segment ensuring better quality at better prices for consumers.

After the removal of this duty, the apples from the US would compete on a level playing field with other countries.

The decision will ensure that only premium quality apples could be imported for which there exists a specific market segment and specific demand.

An additional 20 per cent duty was imposed on US apples in 2019 in response to USA’s measure to increase tariffs on certain steel and aluminium products. There is no reduction on Most Favoured Nation (MFN) duty on apples which is still applicable on all imported apples including in the USA at 50 per cent.

The import of apples from the world has been stable in the range of $ 239 – 305 million (except in 2021-22 when it was $ 385 million) in the last five financial years since the application of these additional duties on US apples. The import of apples from the USA has decreased from $ 145 million (127,908 Ton) in FY 2018-19 to only $ 5.27 million (4,486 Ton) in FY 2022-23.

The market share of the US apples was taken by other countries due to the imposition of additional retaliatory duty on US apples. This is reflected as the import of apples from countries other than the US increased from $ 160 million in FY 2018-19 to $ 290 million in FY 2022-23. Turkey, Italy, Chile, Iran and New Zealand are other top exporters to India of apples which took the market share of the US.

Apples from the US to compete on