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HomePosts Tagged "ceo"
Agribusiness, Agro chems – Chemicals, Agro chems – Fertilizers, Agro chems – Pesticides, Company News, Finance, World

Company’s revenue from operations declined 15.03 per cent YoY to Rs 14,078 crore in the quarter ended 31 March 2024, primarily due to lower prices in the post-patent market.

Agrochemical major UPL Ltd has reported 94.95 per cent decline in consolidated net profit to Rs 40 crore in Q4 FY24 as against a net profit of Rs 792 crore recorded in Q4 FY23.

 Company’s revenue from operations declined 15.03 per cent YoY to Rs 14,078 crore in the quarter ended 31 March 2024, primarily due to lower prices in the post-patent market (prices came off against last years [LY] higher base). However, volumes were largely in line with last year.

Company reported that Profit before exceptional items and tax slumped to Rs 135 crore as compared to Rs 1,420 crore reported in the same quarter a year ago. Exceptional items stood at Rs 105 crore in Q4 FY24 as compared to Rs 29 crore recorded in Q4 FY23.

Company’s EBITDA slipped 36 per cent to Rs 1,933 crore in the March 2024 quarter from Rs 3,033 crore reported in Q4 FY23. EBITDA margin dropped by 458 bps YoY to 13.7 per cent during the period under review.

The company’s revenue from crop protection was at Rs 15,080 crore (down 17.75 per cent YoY) and non agro stood at Rs 621 crore (down 9.21 per cent YoY). However, income from seeds business was at Rs 1,130 crore (up 30.33 per cent YoY).

UPL’s revenue from Europe rose by 10 per cent YoY. Income from North America declined 49 per cent YoY followed by India, down 24 per cent YoY and Latin America shed 23 per cent YoY during the period under review. Income from rest of the world increased 21 per cent YoY during the quarter.

During the quarter, net debt increased by $602 million vs previous year to $2.66 billion at the end of FY24 due to reduced factoring, and cash flow impact of decline in profitability.

Mike Frank, CEO, UPL Corporation, said, “We delivered significantly improved financial results in Q4 versus the two preceding quarters, in spite of the prevailing volatile and challenging market conditions. As compared to Q3, volumes recovered well and were in-line with LY, largely led by the strong performance of our high-margin differentiated and sustainable portfolio, which contributed 36 per cent of crop protection revenue vs 29 per cent LY. Our recent launches of Evolution, Feroce and Shenzi did exceedingly well, growing volumes by more than 50 per cent.

Furthermore, Advanta, our global seeds platform continued to see robust traction delivering revenue growth of 34 per cent and 38 per cent respectively for the quarter.

Company’s revenue from operations declined 15.03 per

Agribusiness, Agrotech, Cold Storage, Company News, Finance, India, Investments, Supply Chain

Coromondel made investment of Rs 24 crores through its wholly owned subsidiary and corporate venture capital arm Dare Ventures Limited.

Coromandel International Limited, India’s leading agri solutions company, has announced increasing its investment in Ecozen, a pioneering climate-smart technology solutions provider. The Rs 24 crores investment was made through its wholly owned subsidiary and corporate venture capital arm Dare Ventures Limited. With this, Coromandel has increased its shareholding in Ecozen to 5.54 per cent, an increase of 3.13 per cent.

Ecozen is known for its innovative and sustainable solutions such as the solar-powered irrigation (Ecotron) and cold chain systems (Ecofrost) that have positively impacted the lives of over 180,000 farmers in India. The company leverages advanced technologies including Artificial Intelligence (AI), Internet of Things (IoT), and energy storage to boost agricultural incomes and also significantly reducing greenhouse gas emissions and food losses. Ecozen clocked a turnover of Rs 274 crores in FY23, quintupling its growth in last three years, underscoring the increased consumer acceptance and demand for sustainable solutions. The company has further set its sights on expanding its offerings and market presence into Africa and Southeast Asia to build climate-smart solutions for agriculture.

Jayashree Satagopan, President, Corporate & CFO, Coromandel International Limited, stated, “The remarkable strides made by Ecozen, and its commitment to driving positive impact on the livelihoods of farmers aligns with our vision of building a smart and sustainable future. Our increased shareholding in Ecozen reflects our confidence in the company’s ability to drive positive change and create long-term value for stakeholders.”

Devendra Gupta, CEO, and Co-Founder, Ecozen, expressed his gratitude for Coromandel’s increased support and investment through Dare Ventures. “We are immensely grateful for the continued support and investment from Dare Ventures, which underscores their belief in our mission and potential. Their contribution has been instrumental in our journey towards expanding our impact and reach. With Coromandel by our side, we are confident in our ability to accelerate the adoption of climate-smart technologies globally, empowering farmers and fostering sustainable growth.”

Coromondel made investment of Rs 24 crores

Agribusiness, Agro chems – Chemicals, Company News, World

This prestigious acknowledgment reinforces UPL’s position as one of India’s leading agrochemical companies in the market.

UPL Ltd., a global provider of sustainable agricultural solutions, has been recognised as a ‘Well-Known Trademark’ by the Indian Trademark Registry. This prestigious acknowledgment reinforces UPL’s position as one of India’s leading agrochemical companies in the market, thereby fostering trust and credibility among customers.

In 2021, UPL filed its first “well-known” trademark application under the new regulations. The petition included comprehensive details about their brand evolution, extensive evidence of public recognition, and information on their various initiatives. After a detailed analysis and procedure, the company received the esteemed ‘Well-known trademark’ title.

In addition to strengthening UPL’s brand positioning, this recognition also provides enhanced legal protection, a competitive advantage, simplified marketing efforts, and increased company value. Speaking about the achievement, Ashish Dobhal, CEO, UPL SAS, said, “We are honoured to have been recognized as the ‘Well-Known Trademark’. This achievement underscores our relentless pursuit of excellence and commitment to delivering innovative solutions to empower farmers with the best[1]quality products for enhanced agricultural productivity. This acknowledgment validates our brand’s prominence in providing best-in-class agricultural solutions to farmers worldwide.”

A “well-known” trademark denotes a high level of recognition among the public, associating the brand with specific goods or services. This recognition is so strong that using a similar mark for different offerings could mislead consumers and create confusion about the source or origin. The 2017 Rules established a streamlined process for seeking “well-known” status. Companies can submit detailed applications to the IP Office, outlining their brand history, evidence of recognition, and supporting documentation.

UPL remains steadfast in its commitment to innovation, sustainability, and customer-centricity as it continues to pave the way for a more resilient and prosperous agricultural future.

This prestigious acknowledgment reinforces UPL’s position as

Agrotech, Collaborations, Company News, Drones, India, Start ups

This will pave the way for the company to achieve the historic milestone of becoming the first-ever Indian drone Unicorn start-up.

Garuda Aerospace, a leading drone manufacturer in India, has announced its collaboration with the Indian Space Research Organisation (ISRO), a premier space agency. This partnership will see ISRO procuring Garuda Aerospace’s advanced Quadcopter drones, marking the company’s foray into the space-tech category.

Garuda Aerospace is renowned for its cutting-edge drone technology, incorporating machine learning and artificial intelligence. The integration of these drones into ISRO’s operations is expected to enhance efficiency across various tasks undertaken by the space agency.

The collaboration between Garuda Aerospace and ISRO began with ISRO sampling the company’s drones in 2021 for the delivery of medicines and food supplies. Subsequently, Garuda Aerospace’s drones were also used for sanitizing building premises with the spraying of disinfectants during the COVID-19 pandemic. These successful trials played a pivotal role in Garuda Aerospace securing the order from ISRO for Quadcopter drones.

Commenting on this milestone, Agnishwar Jayaprakash, CEO, and Founder of Garuda Aerospace, expressed his enthusiasm, stating, “Receiving an order from the esteemed Indian Space Research Organisation marks a monumental achievement for us. It showcases our dedication and relentless pursuit of excellence. We firmly believe that Drones and Unmanned Aerial Vehicles will play a pivotal role in the space sector. Our partnership with ISRO not only validates our credibility but also solidifies our position as industry leaders.”

He also highlighted the recent governmental support, such as the approval of 100 per cent Foreign Direct Investment into the space sector, which presents an exciting opportunity for Garuda Aerospace. This landmark decision is expected to provide crucial financial support and pave the way for the company to achieve the historic milestone of becoming the first-ever Indian drone Unicorn start-up.

Garuda Aerospace, founded in 2015, has grown from a team of 5 to over 200 members. It boasts the largest drone fleet in India, with over 400 drones and 500 pilots operating in 84 cities. The company manufactures 30 types of drones and offers 50 types of services, catering to a diverse clientele including TATA, Godrej, Adani, Reliance, and many others.

This collaboration between Garuda Aerospace and ISRO is expected to drive innovation and technological advancements in the space sector, further solidifying India’s position as a global leader in aerospace technology.

This will pave the way for the

Agrotech, Cold Storage, India, Opinions, Supply Chain, Warehousing

By Sandeep Sabharwal, CEO, Sohan Lal Commodity Management Pvt. Ltd. (SLCM)

Every year, India loses approximately 74 million tonnes of food, accounting for 10 per cent of total foodgrain and horticulture production in the country. The prime reason for this food grain loss is inadequate infrastructure, fragmented supply chains, lack of access to new age technology and also barriers in information majorly coming in because of lack of acceptance of new ideas by agri fraternity. The agri industry is making sure that it deals with this multifaceted problem with innovative solutions. This problem of food loss has created multiple opportunities for the agri tech industry to create solutions that were unthinkable earlier. This has led to job creation, better produce, economic growth and value addition to agricultural produce.

In this stead, utilising innovative Farming Techniques have emerged as a steppingstone.  Such techniques can ensure that we can easily minimize food loss. Precision agriculture, hydroponics, or vertical farming, which optimize resource utilization and reduce wastage should be the way forward for farmers. Moreover, Technological Interventions are also being created by agri tech leaders. Today mobile apps for real-time market information, blockchain for transparent supply chains, and AI-driven analytics for predictive crop management are available. Though, there will be a need to handhold the agri fraternity and teach them the technology till they become comfortable with it, but the journey towards the goal has already begun.

Infrastructure Development is another area that has seen tremendous improvement in the past decade. Long gone are the traditional warehouses. Today the new, improved cold storage facilities, faster transportation networks, and packaging solutions have enabled the farmer to extend the shelf life of perishable goods. Farmers can make use scientific agri warehousing practices that enable them to timestamp when they store their produce and when they take it out. Online apps are also helping farmers to get their grains certified, which saves time and money and enables them to get the right value for their products.  

Community Initiatives such as farmer cooperatives, food banks, and decentralized processing units also add value to surplus produce. In addition to it, Government Policies and Support in the form of subsidies for modern farming equipment, investment in rural infrastructure, and awareness campaigns on proper storage and handling practices are ensuring that the farmer is happy at the end of the day. This will ultimately lead to Market Diversification and thus reduced dependency on traditional channels, exploring avenues such as organic farming, niche markets, and export opportunities to minimize surplus production and associated losses.

Capacity building and training programs for farmers, focusing on post-harvest management techniques, quality control measures, and efficient packaging methods to reduce food loss along the supply chain is already underway but a more focused approach is needed so that these resources reach the farmers. Climate-resilient practices and technologies can also help to minimize crop losses and ensure food security. In the end, we need to ensure that the prime beneficiaries of all our efforts are the farmers. The prime goal is to see that the agri industry grows leaps and bounds within no time at all.

By Sandeep Sabharwal, CEO, Sohan Lal Commodity

Agro chems – Chemicals, Company News, Finance, World

Company’s revenue from Europe declined by 30 per cent YoY, followed by Latin America (down 28 per cent YoY) and India (down 20 per cent YoY).

The agrochemical major UPL Ltd has reported a consolidated net loss of Rs 1,217 crore in Q3 FY24 as against a net profit of Rs 1,087 crore recorded in Q3 FY23. Company’s revenue from operations declined 27.72 per cent YoY to Rs 9,887 crore in the quarter ended 31 December 2023. Loss before exceptional items and tax was at Rs 1,649 crore as against profit before exceptional items of Rs 1,515 crore reported in the same quarter a year ago.

Revenue and EBITDA for Q3 continued to be impacted by global channel destocking and ongoing pricing pressure in post patent space exacerbated by higher rebates, company mentioned. UPL’s income from North American tumbled 64 per cent YoY, revenue from Europe declined by 30 per cent YoY, followed by Latin America (down 28 per cent YoY) and India (down 20 per cent YoY) and rest of the world shed by 12 per cent YoY during the period under review.

UPL said that the revenue and EBITDA for Q3 continued to be impacted by global channel destocking and ongoing pricing pressure in post patent space exacerbated by higher rebates.

During the quarter, contribution profit jumped 54 per cent YoY to Rs 2,689 crore and contribution margin declined to 42.6 per cent from 42.6 per cent in Q3 FY23. Liquidation of high-cost inventory, and higher rebates to support channel partners, impacted contribution margin, as per the statement.

The company’s revenue from crop protection was at Rs 8,495 crore (down 30.68 per cent YoY) and non -agro came in at Rs 520 crore (down 9.25 per cent YoY). However, income from seeds business was at Rs 931 crore (up 2.08 per cent YoY)

Mike Frank, CEO, UPL Corporation, said, “Destocking continued to weigh down the global agrochemical market. Overall, prices remained stable QoQ in the crop protection business but came off significantly as against with the high base of previous year amid intense post patent price competition.

However, we did see a pick-up in volumes in Latin America, and a double-digit growth in revenue in the RoW region. Our high margin differentiated and sustainable portfolio continued to outperform as revenue 2 share of this portfolio increased to 37% of crop protection revenue (ex-India) vs 28 per cent last year. Contribution margins too were down only marginally versus last year adjusted for the short-term impact of high-cost inventory liquidation and higher rebates to channel partners.

We continued to implement cost optimization initiatives to align our operations with the new reality, reducing SG&A expenses by 19 per cent YoY in Q3. We are well on track to reduce our SG&A by $100 million in FY25 (from the base of FY23). Going forward, while we are optimistic of a progressively improved performance in Q4FY24 and Q1FY25, we expect normalized business performance from Q2FY25. Our foremost priority is reducing debt. In-line with this, we have also recently announced a rights issue of upto $500 million and are exploring capital raise opportunities at platforms in addition to operational cash flows.”

Company’s revenue from Europe declined by 30

Agribusiness, Company News, Dairy, Finance, Funding, India

This exit adds to Orios Venture Partners’ track record of successful returns to investors further solidifying its position as a leading investor in India-focused startups.

Orios Venture Partners, India’s leading early-stage Venture Capital Fund, proudly announces its successful partial exit from portfolio company Country Delight, achieving remarkable returns equivalent to 45X of its initial investment.

The exit underscores the value in Orios’ strategy of identifying the best companies and investing in them early. When making the investment back in 2017, Orios had built a thesis on subscription commerce and had as part of the sector study met with 40+ companies before selecting Country Delight. Orios still holds the majority of its investment stake from Fund I in the company.

This exit adds to Orios Venture Partners’ track record of successful returns to investors further solidifying its position as a leading investor in India-focused startups.

Founded in 2013, Country Delight stands as India’s premier “Good for You” food essentials brand, with an innovative tech-first direct-to-home model. Originating with a focus on fresh dairy products, the company has rapidly expanded its offerings to encompass a diverse range of daily consumables such as bread, eggs, ghee, fruits, vegetables, and more, all produced under its brand. The company has experienced exponential growth since its inception, raising a total of 9 funding rounds and achieving a valuation of $820 million in its latest funding round.

Rehan Yar Khan, Managing Partner at Orios Venture Partners, commented on the exit, stating, “We have always worked hard to identify the very best companies at early stages to invest in. We look at between 4000 to 5000 companies in a year to invest in 10. We have been doing this since 2008, first as private investors and then since 2014 as an AIF fund. The same process also led to the identification of Ola and Druva. We believe exceptional founders in large spaces can build special companies. With Country Delight, it has been an honor and great learning experience to watch Chakradhar & Nitin build the company, from a single product to over 140 products.”

“Orios has been the earliest believer in Country Delight. We are thrilled to have given a partial exit to Orios at a 45x return and continue to be excited about their support and belief in the business”, said Chakradhar Gade, CEO, and Co-founder Country Delight.

This exit adds to Orios Venture Partners'

Horticulture, India, Start ups

Agrostar group and LuLu Group are already working on pomegranates and Guavas to bring Indian fruits to the supermarkets and hypermarkets of the LuLu Group in the Middle East.

In a landmark development for the Indian F&V/horticulture sector, INI Farms, part of the AgroStar group, has entered into a Memorandum of Understanding (MoU) with LuLu Group International, to build a direct farm-to-retail partnership for the Indian Cavendish Bananas. This is a further extension to a long-term partnership between the two groups already working on pomegranates and Guavas to bring Indian fruits to the supermarkets and hypermarkets of the LuLu Group in the Middle East.

The MoU signing on 23 January 2024, is a groundbreaking moment for Indian Banana exports as it marks the direct servicing of a reputed large global retailer like LuLu Group International by an Indian F&V Brand. The event kicked off earlier in the day with the Flag-Off of the first container from INI Farms’ packhouse in Baramati to LuLu Group UAE, followed by the MoU signing event at Pune, ushering in a new era of partnership and progress in the Indian F&V export business. The event was graced with the presence of Salim M.A., Director, LuLu Group International along with dignitaries such as Dr Sudhanshu, Secretary, APEDA, Dr Brajesh Mishra, Head, Regional Plant Quarantine Station, Mumbai, along with other senior representatives from NABARD, Aavishkaar Group and Maharashtra Agriculture department.  

Under this strategic partnership, INI Farms working with the AgroStar network of farmers in Maharashtra and Andhra Pradesh, will adhere to the highest standards of quality required for its products to be in global supermarkets and ensure a year-round supply to meet the demand of the LuLu’s end consumers. The partnership highlights the capabilities of the AgroStar group to serve Indian farmers across the value chain and fulfill the quality expectations of customers across the world. AgroStar’s tech capability, strong farmer relationships, agronomy expertise and wide range of agri input products combined with INI Farms’ strong sourcing, post-harvest & supply chain capabilities and its global network of customers/retailers gives the AgroStar group a unique advantage in India’s AgTech landscape.

Sharing her thoughts on the momentous occasion, Purnima Khandelwal, CEO, INI Farms said, “This MoU is a significant milestone not just in the journey of INI Farms, but also for Banana and Guava farmers across the country. We are excited about the prospect of directly servicing a highly reputed global retailer like LuLu and ensuring the highest quality of Indian bananas and Guavas from our farms to their retail shelves. We are grateful for the faith and trust shown by LuLu Group and excited about the opportunities this collaboration can bring for Indian farmers.”

Speaking during the event, Shardul Sheth, Co-founder and CEO, AgroStar said: “INI Farms has gone from strength to strength over the past few years. Last year, we witnessed landmark developments like the first Indian consignment of our ‘Kimaye’ branded bananas being shipped to the Netherlands and becoming a pioneer in the industry to successfully ship great quality pomegranates to the USA among other achievements. Our collaboration with LuLu Group International is yet another important milestone and a testament to our capability to be able to supply F&V products of global quality standards to marquee retailers and end customers around the globe and our passion to continue to build deep and meaningful relationships servicing the seed to market linkage needs of our farmers.

Sharing his thoughts during the event, Salim M.A., Director, LuLu Group International said, “This MoU is not just a trade deal, it is about celebrating the rich agricultural diversity of our nation and supporting our hardworking farmers. LuLu Group International aims to be the pioneer in sustainable agriculture and set new standards in quality and innovation. We have been working with INI Farms for close to a decade and this MoU further strengthens our collaboration. Together, in collaboration with our farmers and partners we will explore new markets and contribute to the growth of the agriculture sector. This MoU is a milestone and I’m confident that our partnership will be marked by success.”

Dr. Sudhashu, Secretary, APEDA, Ministry of Commerce & Industries shared his thoughts at the event, “The MoU signing, and Flag-Off event marks a historic moment for the Indian AgTech industry, representing a leap toward making banana exports the first billion-dollar fruit out of India in the next couple of years.”

Agrostar group and LuLu Group are already

Company News, Horticulture, India, Vegetables

The Choose Goodness campaign aims to bust myths surrounding cultivation methods of most produce found in local stores and supermarkets.

Bengaluru based Simpli Namdhari’s, India’s only 100% vegetarian omnichannel retailer launched the ‘Choose Goodness’ campaign across social media and in-store, to raise awareness of foods that are safe to consume and educate customers on what goes into cultivating fruits and vegetables. Simpli Namdhari’s launched the campaign amidst growing concerns among consumers regarding the presence of toxic heavy metals in fruits and vegetables shelved at major retail outlets in Bengaluru.

The Choose Goodness campaign aims to bust myths surrounding cultivation methods of most produce found in local stores and supermarkets. Given India’s low consumption of healthy fruits and vegetables compared to other plant-based products, Simpli Namdhari’s aims to also create awareness about the role of superfoods like exotic produce in bridging the nutrition gap and improving customer health. Additionally, Simpli Namdhari’s will introduce customers to its seed-to-plate model, emphasising its commitment towards quality control across the supply chain.

“Most customers have no idea how the fruits and vegetables available at their neighbourhood kirana or supermarket are cultivated — Whether it is safe to consume or harmful. It’s largely because retailers procure their produce through a scattered supply chain. Now more than ever, there’s a need to create more awareness among customers about where the food really comes from, the potential impact on their health and the role retailers play in educating customers about it,” said Gurmukh Roopra, CEO, Namdhari’s Group.

With the focus on customer health and wellbeing, Simpli Namdhari’s has taken steps to ensure all fruits and vegetables including exotic produce, shelved at its stores, are safe-to-consume. The company gets its fruits and vegetables tested every quarter by an NABL-certified third-party lab, where checks are conducted under 40 different categories. Fruits and vegetables shelved at Simpli Namdhari’s have been certified with an A+ Grade and follow the BRCGS food standards and GAP Protocol for field operations to test produce.

Namdhari’s Group cultivates crops at its farm in Bidadi or contracts the cultivation to farmers who use Namdhari’s Seeds and prescribed cultivation methods to produce the best-quality fruits and vegetables. Maintaining quality is a top priority, as the produce is not only shelved at Simpli Namdhari’s stores but also exported. In 2023 alone, Namdhari’s exported over 1,000 MT of fresh fruits and vegetables to the UK, Europe & Australia where every single shipment passed clearance of the highest quality.

The Choose Goodness campaign aims to bust

Company News, Horticulture, India, Start ups, Supply Chain, Trade

The success of this trial shipment promises to unlock fresh prospects for Indian banana farmers in a market as quality conscious as Europe.

 AgroStar, one of India’s foremost AgTech start-ups, working on the mission of Helping Farmers Win, is proud to announce a significant milestone achieved by its subsidiary, INI Farms. In an encouraging development for banana farmers in India, the first consignment of INI Farms’ ‘Kimaye’ branded bananas has been shipped to Fresh Del Monte in Europe, opening new horizons for the export of fresh Indian fruits.

The pilot was executed by INI Farms in collaboration with Agricultural Products Export Development Authority (APEDA), along with support from ICAR-Central Institute for Subtropical Horticulture (CISH), Lucknow for technical assistance, Fresh Del Monte for marketing and distribution in Europe, and Maersk for logistics. The export venture was flagged off on 9th November by APEDA Chairman Abhishek Dev from Baramati, Maharashtra.

Over the years, APEDA-registered INI Farms has earned a reputation for its strong sourcing infrastructure with inbuilt SOPs and enhanced the quality and shelf life of bananas to meet the stringent requirements of the European market.

Sharing her thoughts on the momentous occasion, Purnima Khandelwal, CEO, INI Farms said, “We are delighted to partake in this trial shipment aimed at cementing India’s presence in the banana trade in Europe. The success of this trial shipment promises to unlock fresh prospects for our banana farmers in a market as quality conscious as Europe.

Over the years, our brand ‘Kimaye’ has become a well-known global consumer F&V brand out of India, synonymous with great quality and food safety. We are proud to join hands with thousands of banana farmers across India as we cater to the growing global demand for Indian bananas.”

Shardul Sheth, Co-founder & CEO, AgroStar, expressed his enthusiasm, stating, “India is the largest producer of bananas in the world. We see massive opportunities in banana exports and its potential to transform the lives of banana farmers across the country. We are committed to working closely with our farmers and partners and make it the first billion-dollar revenue fruit category from India.

We extend our heartfelt gratitude to APEDA, ICAR, and all our cherished partners. Their unwavering support and invaluable contributions have been pivotal in steering us towards this momentous occasion.”

“We are proud to be the first company to market and distribute Indian bananas in Europe and to be a member of the partnership that made this happen,” said Mohammad Abu-Ghazaleh, Fresh Del Monte’s Chairman and Chief Executive Officer. “Opening a new source of bananas to the entire European continent is a huge milestone and we hope this is just the beginning. We see this as a win-win for all parties involved, including consumers and banana growers across India. Thank you to our partners in this endeavour whose expertise in various sectors made this possible.”

The success of this trial shipment promises

Agrotech, India, People, Seeds

FSII ropes in Ajai Rana, CEO, Savannah Seeds as Chairman of the Board of Directors and Shirish Barwale, Director, Maharashtra Hybrid Seeds Company as Vice Chairman.

Federation of Seed Industry of India (FSII), the prominent industry association of R&D based seed companies in India, is delighted to announce the successful leadership transition with Ajai Rana, CEO, Savannah Seeds Private Limited, assuming the role of the Chairman of the Board of Directors. FSII held its Annual General Meeting on 25 Sep 2023, which marked the occasion of the new leadership team formally taking over the mantle.

 Rajvir Rathi, Head – Public Affairs, Science & Sustainability IBSL and Lead – Traits Licensing Business, Bayer CropScience Limited and Shirish Barwale, Director, Maharashtra Hybrid Seeds Company Private Limited, assumed the roles of Vice Chairmen. Dr Venkatram Vasantavada, MD & CEO, SeedWorks International Private Limited, took charge as the Finance Director. 

The new leadership team expressed their profound gratitude for the dedicated efforts of the founding and former Board members who, since its inception, have been instrumental in shaping FSII into a respected industry association at the forefront of India’s seed sector.

FSII’s rich legacy, built upon the vision and relentless dedication of these early pioneers, has led to its establishment as a pioneering industry association for the Indian seed sector. Over the years, FSII has achieved remarkable growth, recognition, and respect within the industry, primarily due to the tireless commitment of those who have steered its course.

Under the guidance of the newly appointed leadership, FSII is now poised to take its mission to the next level. With a renewed focus on becoming a ‘knowledge-driven’ federation of research-based seed companies in India, FSII aims to contribute significantly to the growth and development of the Indian seed sector. The organization envisions a future where innovative research, sustainable practices, and knowledge-sharing will drive the industry to new heights.

“On behalf of the new leadership team, we acknowledge the great efforts of our founding and former leadership who have brought FSII to what it is today as the voice of Indian seed sector. FSII is ready to embrace the challenges and opportunities of the future, leading the way towards a knowledge-driven and prosperous Indian seed sector. Our commitment is unwavering, and we are determined to build upon the strong foundation laid by our predecessors. As we embark on this exciting journey of leadership continuity and renewed focus, we invite all the industry stakeholders, partners, and collaborators to join hands with us in shaping the future of the Indian seed sector. Together, we can collectively contribute to the growth, sustainability, and prosperity of this most important industry.” said Ajai Rana on the occasion.

FSII’s leadership transition represents a vital step on the continuum of progress, ensuring that the organization remains relevant, dynamic, and influential in the years to come. The new team is dedicated to preserving the values and vision of FSII while simultaneously adapting to the evolving needs of the industry.

Focusing on strategic stakeholder engagement and targeted policy advocacy, FSII is all set to bolster its collaboration with Central and State governments, various Ministries, departments, and statutory bodies to ensure that policy and regulatory frameworks are holistic and conducive to the growth of the seed industry and aligned with nation’s Amrit Kaal aspirations.

This leadership transition not only ensures that FSII remains agile and expands its sphere of influence in the ever-evolving Indian seed industry but also places a strong emphasis on fostering enhanced collaboration and communication with key stakeholders.

FSII will actively seek collaboration and partnerships with industry players, research institutions, academia, scientific fraternity, and other stakeholders to drive innovation and knowledge exchange within the sector. FSII committed to disseminating industry insights and promoting best practices among its members and stakeholders.

FSII ropes in Ajai Rana, CEO, Savannah

AgroPolicy, Foodgrains, India, Industry Reports / Analysis, Start ups

Let’s take stock of how impactful the International Year of Millet has been in India so far.

India is the world’s leading producer of millets accounting for over 40 per cent of global production. Andhra Pradesh stood in the first place in the country in millet productivity in 2022, as per the National Bank For Agriculture And Rural Development (NABARD) annual report 2022-23. NABARD has been promoting 22 millet-based farmer producer companies in Andhra Pradesh. These FPCs have nearly 9,970 farmers as members and are engaged in millet-based business activities such as input supply, procurement, providing custom hiring services, and processing and marketing of the millets, among others. In order to provide support to entrepreneurs for recipes and value-added products to promote millet consumption under the International Year of Millet (IYoM) 2023, the Ministry of Agriculture has funded 66 startups with more than Rs 6.25 crore.

A remarkable increase in the number of startups in the millet sector has caught the government’s attention to turn the production and promotion of millet into a mass movement in India and abroad. According to the Agricultural and Processed Food Products Export Development Authority (APEDA), India has witnessed more than 80 startups in the millet sector in the past year and a half. Let’s take stock of how impactful the International Year of Millet has been in India so far.

Plants in the ‘grass’ family are the botanical ancestors of millets. Their history may be traced all the way back to the Indus Valley Civilisation, making them one of the world’s oldest staple foods. 

Millets are the crop of the future as they provide the possibility of higher environmental sustainability and economic prosperity as the global agricultural and food production systems continue to cope with the increasing population. A nutritious alternative to wheat and rice, that doesn’t consume excess natural resources including water, millets don’t need extraneous chemical pesticides or fertilisers. Hence, smallholder farmers can afford to grow them. Millets have a stronger nutritional profile than wheat, rice, and maize, the three most widely produced grains in the world. They have a low glycemic index and are high in nutrients like fibre, protein, vitamins, and minerals.

The World Bank states that between 32 and 132 million people in Sub-Saharan Africa and South Asia will be plunged into poverty by 2030. Due to their great heat tolerance, capacity to flourish in water-poor and resource-poor soils, and physiological efficiency as C4 plants, millets are ideally suited to play the role of ‘future crops’ in climate resilient agriculture (CSA).

Sharing the broader picture of the millet world, T R Kesavan, Chairman, FICCI National Agriculture Committee and Group President, TAFE stated, “Millets, often referred to as nutri cereals, stand as a beacon of health, nutrition and sustainability. India, a prominent producer and consumer of millets, has risen to the forefront on the global stage by spearheading the International Year of Millets (IYoM). Millet production in India holds multifaceted importance encompassing nutrition, environment and economics. Suited to diverse conditions, millets offer essential nutrients, manage diabetes, enhance food security, conserve biodiversity and symbolise cultural heritage.”

Elaborating further on the topic, Ravinder Balain, President – South Asia Corteva Agriscience said, “2023 is the International Year of Millets. The government’s efforts in recognising the enormous potential of millets to generate livelihoods, increase farmers’ income and ensure food & nutritional security worldwide were crucial to generating the demand of the ‘Sri Anna’. The Department of Agriculture & Farmers Welfare has taken a proactive multi-stakeholder engagement approach (engaging all the central government ministries, states/UTs, farmers, startups, exporters, retail businesses, hotels, Indian Embassies etc.) to achieve the aim of IYoM 2023 and taking Indian millets globally. India’s ambitious plan to increase millet cultivation, consumption, and doubling farmers’ income is a testament to the government’s effort in increasing millet cultivation through several national and state level schemes targeting millet farmers.”

“India is among the top 5 exporters of millet in the world. According to recent data by Trade Map, world export of millet has increased from    $400 million in 2020 to    $470 million in 2021. India exported millets worth    $75.46 million in 2022-23, compared with    $62.95 million in 2021-22. In the past few years and more so in 2023, there has been an increased focus on millet from many startups, large food corporations and other stakeholders in the food chain to bring innovation to this sector with the latest technologies, recipes, and products for domestic and outside consumers. Proactive efforts of the Centre in celebrating IYoM2023 has supported all these efforts from different stakeholders to make Millets a really happening industry,” he added further.

Highlighting more key points, Ajay Bhuwalka, CEO, Urban Monk Pvt. Ltd. said, “Millets are an ancient grain of India and was a staple grain before the green revolution. Most rural parts of the country still consume millet as their staple.  We are very confident that millet will definitely find its way back into urban kitchens due to its immense health benefits. Post-COVID, the consciousness of all people to lead a healthy lifestyle has gone up significantly. Thus, we are very confident that millets will be popularised.”

Echoing similar thoughts, Shashi Kant Singh, Partner, Agriculture and Food Sector, PwC India said, “Millions of farmers across the world depend on millets for livelihood, food and nutrition, with a majority of these crops tracing their origins back to Asia and Africa.” 

Sharing her views on millet cultivation, S B Anuradha, Owner, Amma’s Taste commented, “Pesticides and fertilisers are unnecessary for growing millet. So, there is essentially no harm done to the flora and fauna. There is no need to use preservatives in order to maintain the quality and freshness of millets and millet products. Increased millet cultivation provides additional organic forage for use by mulching animals. The quantity of milk produced is also expected to rise.”

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AgroPolicy, Agrotech, India, Interaction

Samuel Praveen Kumar, Joint Secretary (Extension), Ministry of Agriculture and Farmers Welfare was addressing the knowledge sharing session ‘Harnessing Agriculture’s Potential- 2035’, organised by FICCI.

Samuel Praveen Kumar, Joint Secretary (Extension), Ministry of Agriculture and Farmers Welfare, Govt of India said that it is imperative to adopt technology and create infrastructure to build a resilient agriculture sector in India.

Addressing the knowledge sharing session ‘Harnessing Agriculture’s Potential- 2035’, organised by FICCI, Kumar stated that earlier the government had a production centric approach in the agriculture sector but now we focus on the entire value chain. Every country across the world is embracing newer technology, following innovative ways to build a strong agriculture value chain. “By adopting these measures along with the collective efforts of all stakeholders, we can make Indian agriculture sector more robust, resilient, climate smart to match the global standards,” he added.

To promote infrastructure in the agriculture sector, Kumar said that the government introduced agriculture infrastructure fund scheme. “Till date, close to Rs 30,000 crore has been disbursed for these projects and this in turn has brought in investments around Rs 50,500 crore. This is going to change the landscape of the agriculture sector in the country as it is through infrastructure only that we can address the other inefficiencies in the supply chain,” he added.

Sanjiv Kanwar, Managing Director, YARA South Asia said, “The agri-channels who have been in this space for over 50 years are the original start-ups of Indian agriculture- they believed in the future of Indian agriculture and committed themselves to making India self-sufficient by serving farmers with right agri inputs and technology support. Channel partners must be recognized for providing the last-mile connectivity from lab to land.”

Siraj Hussain, Advisor, FICCI and Former Secretary, Ministry of Agriculture & Farmers Welfare and Ministry of Food Processing Industries, Govt of India said, “FICCI is thrilled to have partnered with Yara India for this knowledge-sharing event, ‘Harnessing Agriculture’s Potential – 2035’. This partnership opens doors to explore needs of input dealers and channel partners.”

Ajai Rana, CEO, Savannah Seeds Pvt Ltd said that we can improve our farm production by utilizing high-quality seeds, proper crop nutrition, and efficient mechanization in the farming process.

Kaushal Jaiswal, Co-Chairman, FICCI National Agriculture Committee and MD, Rivulis Irrigation India Pvt Ltd said with so much potential in the agriculture sector, it becomes imperative that the Agri channel partners are suitably identified, supported and handheld so as to mainstream them for the long run. 

Deepak Verma, Domain Lead- Agriculture, ONDC (Open Network for Digital Commerce) said that ONDC brings all technology providers on one platform to provide unified solutions to the end user.

Arvind Chaudhary, Director General, Fertilizer Association of India said that there is a need to create awareness about balance use of fertilizers in farming.

Samuel Praveen Kumar, Joint Secretary (Extension), Ministry

Agro Universities, Agrotech, Company News, India

Partnership aims to accelerate the development, dissemination, and uptake of nutritionally enriched crops to benefit millions of people in the region.

The Asia-Pacific Association of Agricultural Research Institutions (APAARI) and HarvestPlus have embarked on an exciting collaboration aimed at increasing the adoption of nutrition and climate-smart agricultural technologies across the Asia-Pacific region. This partnership marks a significant milestone in advancing food and nutrition security, promoting sustainable agriculture, and building resilience in the face of emerging challenges. By collaborating, both organizations aim to accelerate the development, dissemination, and uptake of nutritionally enriched crops to benefit millions of people in the region.

“APAARI and HarvestPlus have signed a Partnership Statement to collaborate on agri-food systems transformation with special reference to enhancing the role of biofortification in crops for achieving nutrition security in the Asia-Pacific region”, said Dr Ravi Khetarpal, Executive Secretary of APAARI.

Arun Baral, CEO, HarvestPlus said, “Across the Asia-Pacific region, there is an opportunity to accelerate nutrition security by integrating nutrient-enriched staple food crops into food systems. We are delighted to work together with APAARI to enhance agricultural research across the region and improve equitable access to nutritious crops for smallholder farmers.”.

This collaborative effort between APAARI and HarvestPlus holds great promise in advancing agricultural technologies and practices, improving nutrition, and building more resilient and sustainable food systems for the Asia-Pacific region. As they work hand in hand, both organizations are dedicated to making a lasting impact and positively transforming the lives of millions.

Partnership aims to accelerate the development, dissemination,