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Agribusiness, Company News, Finance

The value-added agri portfolio (including Coffee, Fruits & Vegetables, Spices etc.) recorded robust growth during the quarter.

The Indian economy continues to demonstrate macro-economic stability even as high frequency indicators such as automobile sales, bank credit & personal loan growth, credit card transaction volumes, GST collections, merchandise exports growth, manufacturing PMI etc. pointed to a deceleration in the pace of economic activity during the quarter. The quarter also witnessed excessive rains in August and September and a resurgence in food inflation which led to CPI hitting a 9-month high. The combination of these factors along with inflationary trends in commodity prices weighed on consumption expenditure and the FMCG sector.

Agri products; Segment PBIT up 27.5 per cent YoY.  Strong growth in Leaf Tobacco exports leveraging strong customer relationships and new business development. Value-added agri portfolio (e.g. Coffee, Fruits & Vegetables, Spices) performed well in Q2 FY25.

The Company continues to engage with farmers to build crop resilience against extreme weather events through customised agronomy practices. The Climate Smart Agriculture programme covers over 28 lakh acres and about 7.5 lakh farmers in the country.

The value-added agri portfolio (including Coffee, Fruits & Vegetables, Spices etc.) recorded robust growth during the quarter. The Business continues to leverage the multi-dimensional capabilities of its state-of-the-art value-added Spices processing facility in Guntur to scale up exports.

 Agility in operations, strong customer relationships and new business development enabled robust growth in leaf tobacco exports. Steep escalation in green leaf tobacco costs and surge in ocean freight weighed on margins; this was partially mitigated through strategic cost management initiatives. The AI/ML powered real-time buying platform continues to be scaled up to facilitate efficient leaf tobacco buying across auction platforms.

The Business continues to scale up interventions to build crop resilience against extreme weather events across agri value chains (including wheat, tobacco etc.) thereby enhancing crop competitiveness and protecting farmer incomes.

ITCMAARS (Metamarket for Advanced Agriculture and Rural Services) – a crop-agnostic ‘phygital’ full stack AgriTech platform has been scaled up across ten states. Over 1650 Farmer Producer Organisations (FPOs) encompassing more than 1.7 million farmers have been added to the Company’s network.

The state-of-the-art facility to manufacture and export Nicotine & Nicotine derivative products conforming to US and EU pharmacopoeia standards, set up by the Company’s wholly owned subsidiary, ITC IndiVision Limited, which was commissioned recently, has received EU REACH approvals. Product trials have been successfully completed on a pilot basis; trials at scale are underway. Export shipments are expected to be scaled up progressively.

The value-added agri portfolio (including Coffee, Fruits

Agrotech, Company News, India, Inputs

Mankind Agritech will collaborate closely with ITC’s MAARS initiative, an innovative “phygital” ecosystem combining physical and digital solutions to empower farmers.

Mankind Agritech Pvt. Ltd (a Mankind Pharma Group company) has entered into a strategic partnership with the Agri Business Division of ITC Limited to empower the Indian farming community with technology-enabled high-quality sustainable agricultural solutions. This partnership is aimed at enhancing agricultural productivity, support farmers’ livelihoods and help strengthen the nation’s agricultural sector.

Mankind Agritech will collaborate closely with ITC’s MAARS initiative, an innovative “phygital” ecosystem combining physical and digital solutions to empower farmers. ITCMAARS delivers a diverse range of crop-agnostic hyperlocal services, enabling farmers to boost their incomes and adopt environmentally sustainable practices. This partnership offers ITC a competitive edge in the agritech market, providing farmers with a more comprehensive and effective suite of agricultural solutions, ultimately enhancing their productivity and profitability. The collaboration between the two companies is dedicated to empowering farmers, focusing on improving productivity, reducing costs, and mitigating risks through access to Mankind’s cutting-edge technologies.

This strategic collaboration would enrich Indian agri spectrum by leveraging Mankind’s prowess and expertise in agricultural inputs. Additionally, it fosters demand-responsive value-chains, promote climate-smart agriculture digitally empower farmers.

Speaking about this partnership, Partha Sengupta, President Mankind Agritech said, “We are very proud and delighted to announce this strategic partnership in agriculture with one of India’s major conglomerates – ITC Limited, which has been a pioneer in the field of farmer empowerment. By conducting on-ground collaborative team activities and showcasing product performance through demonstrations and consultation services, this initiative aims to bridge the gap between the Indian agrarian community and their advisory needs with regards to the latest sustainable agri-input solutions that also address environmental concerns.”

Sengupta further added: “Weedicides, insecticides, fungicides, plant growth regulators, and biologicals are just a few of the cutting-edge crop care solutions that Mankind Agritech will provide to Indian agriculturists, enabling them to maximise their produce while ensuring easy accessibility to world class quality products at affordable Indian prices.”.

Rajnikant Rai, Divisional Chief Executive, Agri Business Division, ITC said, “The ITCMAARS ‘Phygital’ model encompasses physical engagement on the ground with FPOs as the pivot, whilst bringing the power of digital technologies to farmers in the form of a super app and offerings. It also enables delivery of high-quality products such as farm inputs to the farmers right at the village level through partnerships with leading Inputs companies. The platform is also building an ecosystem for new age AgTech startups to ‘Plug and Scale’. ITCMAARS aims to progressively cover as many as 4,000 FPOs, empowering 10 million Indian farmers by 2030.”

“This partnership between Mankind Agritech and ITC is yet another important step towards ITC’s vision to usher in Next Generation Agriculture and ensure that Indian farmers have access to the best-in-class sustainable agri-input solutions right at their doorstep”, Rai added.

Mankind Agritech will collaborate closely with ITC’s

Climate, Company News, Environment, Foodgrains, India, Nature, Sustainability

These include the crop cycle approach, popularising climate-resilient varieties, promoting climate-smart agriculture

ITC is working on a set of short-term actions to mitigate any impact of a harsh summer projected in the country.

The company’s agronomy teams have worked out region-specific practices to minimise the impact of heat waves and unseasonal rains through a host of multi-dimensional measures.

Sanjiv Puri, ITC Chairman said that these include the crop cycle approach, popularising climate-resilient varieties, promoting climate-smart agriculture and contingency planning.

ITC has been working on climate risk modelling for a while. “We are identifying hotspots, and based on the nature of problems, taking mitigating steps. A very localised action has to be taken,” Puri said.

These include the crop cycle approach, popularising

Agrotech, Company News, India

The mega facility, with an annual capacity of 20,400 MT, will process turmeric, chilli, and blended spices

ITC has launched its internationally benchmarked spices plant in Palnadu, Andhra Pradesh, with an investment of Rs 200 crore. The plant was inaugurated by YS Jagan Mohan Reddy,Chief Minister, Andhra Pradesh. Sanjiv Puri, Chairman, ITC and other eminent dignitaries were present on the occasion.

The state-of-the-art mega facility will have processing lines for turmeric, chilli, and blended spices, with an annual capacity of 20,400 MT of spices. It will have the capability to produce over 15 organic spices and will boost ITC’s food exports globally. The target global markets are Europe, the US, Canada, Australia, China, among other countries.

The world-class ‘Make in India’ plant will cater to all processing needs, including storage, cleaning, processing, sterilisation, packing, quality testing, leading to an end-to-end custody of quality assurance. The unit will also anchor a sustainable spices value chain that will extend support to farmers through a robust crop development programme ensuring traceability.

More than 5,500 farmer families and over 2,200 livelihoods will be supported across the value chain. The facility will be powered by high-tech energy efficient equipment and will have rooftop solar panels to ensure clean energy consumption. A majority of the workforce at the unit will include women.

ITC’s manufacturing footprint in Andhra Pradesh has been strengthened over the years with over 18 units, including its own facilities and those where the company has promoted local entrepreneurship.

The mega facility, with an annual capacity

Agrotech, Company News, India, Nature, Water

Forges 50 PPPs with several State Governments and NABARD for integrated water stewardship programme

ITC Limited, one of India’s leading multi-business conglomerates, has forged as many as 50 Public-Private Partnerships (PPPs) with the Government and other institutions as part of its integrated and holistic initiatives to achieve water security and rural empowerment across India. ITC’s 360-degree water stewardship programme is in alignment with the Government’s key water initiatives including ‘Jal Shakti Abhiiyan’. ‘Atal Bhujal Yojana’ and ‘More Crop Per Drop’. Driven by the Sustainability 2.0 goals articulated by Chairman, Sanjiv Puri, ITC is scaling up its interventions in replenishing water resources and water usage efficiency. It has also embarked on a programme to achieve water positive status at river basin level with focus on 4 basins across the country. The Ghod river basin has already turned water positive last year.

Owing to its 360-degree water stewardship initiatives, ITC has earned the distinction of being the only global company of comparable dimensions to be water positive for over two decades. ITCs Paperboards & Specialty Papers unit at Kovai is only the second facility in the world and the first in India to be awarded the Alliance for Water Stewardship (AWS)’s Platinum level certification – the highest recognition for water stewardship in the world. Going forward, the Company aspires to create rainwater harvesting potential equivalent to over 5 times the net water consumption by 2030 as a part of its S 2.0 targets.  ITC is in the process of implementing the AWS Standards at its units in high water stress areas and will progressively obtain AWS certification for these sites in by 2035.

Commenting on the Company’s integrated water stewardship programmes, S Sivakumar, Group Head, Sustainability, Agri and IT Business, ITC Ltd said “Inspired by our credo of “Nation First, Sab Saath Badhein”, ITC is committed to partnering with the Government in its journey to secure a sustainable and equitable water future for all. Having implemented a 360-degree water stewardship initiative with the help of community participation for over two decades, we have now embarked on a bolder water mission under our Sustainability 2.0 agenda that envisages scaling up our interventions manifold and setting ambitious targets both inside and outside the fence, whilst supporting large-scale sustainable livelihoods.”

The Company has also partnered the Government in creating large-scale awareness on the need for equitable water management by participating in the ongoing India Water Week 2022.

Forges 50 PPPs with several State Governments

Company News

The company has been advised by expert non-profit Good Food Institute India (GFI India) on product and positioning strategy

ITC will launch plant-based burger patties and nuggets providing the taste of chicken to consumers through retail, e-commerce and foodservice establishments in the country’s top eight cities. The company has been advised by expert non-profit Good Food Institute India (GFI India) on product and positioning strategy.

Hemant Malik, Divisional Chief Executive – Foods, ITC said “There is no large pan-Indian brand in the plant-based protein segment in India. We have worked with some global partners to ensure there is no compromise either on the product texture, quality and taste. We want to
enjoy the early mover advantage in India. The meat market is huge with 72 per cent of Indians being non-vegetarians and [the market] is estimated today at $45 billion. Given the growing concerns around wellness and sustainability, India has the potential to emerge as a large market for plant-based alternatives.”

The company has been advised by expert