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HomePosts Tagged "food security" (Page 2)
Agrotech, Company News

Syngenta Group, a leading provider of agricultural science and technology has announced strong financial results for the second quarter and first half of 2022. The group’s Q2 sales increased 24 per cent to $9.2 billion, up $1.8 billion year-on-year. Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) for the same period increased 39 percent to $1.7 billion, driven by launches of innovative products and services, increased productivity and prices that offset higher costs.

The company’s H1 sales stood at $18.1 billion, up $3.7 billion, 25 percent year-on-year. EBITDA for the same period was recorded as $3.5 billion, 32 percent higher year-on-year.

Syngenta Group’s double-digit sales growth in the second quarter and the first half of 2022 was backed up by strong demand for the company’s products and services that help farmers successfully grow crops to address global food security and mitigate the effects of climate change by providing healthy, nutritious, and affordable food.

The Switzerland-based company continued to promote the transition to a regenerative food production system, playing its part by accelerating innovation to nurture and restore soil health, biodiversity, climate and water systems, while enhancing productivity and farmer economics. Further, Syngenta Group is working with other companies in the agriculture value chain, including food companies and retailers, to progress regenerative agriculture.

Syngenta Group China delivered strong growth with a total sales of $5.3 billion in H1 2022. The sales of Modern Agriculture Platform (MAP) nearly doubled to $1.8 billion, thus surpassing its sales for the year 2021. During the same period, the group’s China arm opened 48 new MAP centers, expanding the company’s capabilities to serve farmers. The average sales per center of the 540 MAP centers across China were up 38 per cent year-on-year, helping farmers increase their crop quality and yield while lowering environmental impact.

The EBITDA margin of Syngenta Group improved by 1.1 percentage points from a year earlier to 19.5 percent in H1 2022. Synergy-driven sales in the first six months more than doubled to $0.7 billion, with a profit contribution that increased to $0.3 billion.

Syngenta Group, a leading provider of agricultural

Acts & Schemes – Centre, AgroPolicy, Foodgrains, India, World

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister,  Narendra Modi has approved the proposal for amendment of policy of exemption for Wheat or Meslin Flour (HS Code 1101) from export restrictions or ban.

Russia and Ukraine are the major exporters of wheat accounting for around 1/4th of the global wheat trade. The conflict between them led to the global wheat supply chain disruptions increasing demand for Indian wheat. As a result, the price of wheat in the domestic market showed an increase. In order to ensure food security for 1.4 billion people of the country, the decision was taken to put a prohibition on export of wheat in May 2022. However, due to prohibition on export of wheat (which was done to put a check on increasing prices in domestic market and to ensure food security in the country), the demand for wheat flour has increased in foreign markets and it’s exports from India have registered a growth of 200 per cent during April-July 2022 compared to the corresponding period in 2021. 

Earlier, there was a policy not to prohibit or put any restrictions on the export of Wheat flour. Therefore, a partial modification of the policy was required by withdrawing the exemption from ban/ restrictions on export for Wheat Flour in order to ensure food security and put a check on mounting prices of Wheat flour in the country.

The increased demand for wheat flour in the international market led to significant price rise of wheat flour in the domestic market.

The approval will now allow a restriction on the export of Wheat Flour which will ensure a curb on rising prices of wheat flour and ensure food security of the most vulnerable sections of the society.

The Directorate General of Foreign Trade (DGFT) shall issue a notification to this effect.

The Cabinet Committee on Economic Affairs, chaired

AgroPolicy, Textile industry, Trade

APEDA signs MoU with DP World & Al Dahra on the UAE side regarding ‘Food Security Corridor Initiative’

India and UAE signed the historic Comprehensive Economic Partnership Agreement (CEPA) aimed at boosting the merchandise trade between the two countries to $100 billion over the next five years. The deal was signed during the virtual summit meeting between Prime Minister of India, Narendra Modi and HE Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi.

Emphasising that CEPA would generate 10 lakh jobs across multiple labour-intensive sectors, the minister said that major sectors like agriculture and food products, textiles, leather, footwear, furniture, plastics, engineering goods, pharmaceuticals, medical devices, sports goods etc. will benefit from this deal and create large scale, employment for our young boys and girls.

Several other agreements were also signed today between the two nations, including an MoU between APEDA and DP World & Al Dahra on the UAE side regarding ‘Food Security Corridor Initiative’ and an MoU between GIFT city (IFSCA) and Abu Dhabi Global Market (ADGM).

APEDA signs MoU with DP World &