AgroSpectrum Magazine - July 2023

In this issue

Future-proofing with Regenerative Agriculture
In a significant development for the regenerative agriculture sector, IITM Pravartak and WayCool Foods have joined forces to create the Regenerative Agriculture tech stack. This collaboration, which brings together the expertise of IITM Pravartak and the deep industry knowledge of WayCool Foods, aims to revolutionise farming practices in India and establish a robust ecosystem for regenerative agriculture. By leveraging innovative solutions and advanced technologies, the partnership seeks to drive the adoption of sustainable agricultural practices among Indian farmers, contributing to a greener and more sustainable future.

Govt cuts basic import duty on edible oil by 5%

In a move to make edible oil more affordable for consumers, the central government has announced a reduction in the basic import duty on edible oils.

1 min

Centre sets stock limits on wheat for wholesalers and retailers

The government of India has taken measures to ensure food security and combat hoarding and speculative practices by imposing stock limits on wheat for traders, wholesalers, retailers, big chain retailers and processors across all states and Union Territories.

1 min

Centre increases MSP for Kharif crops in 2023-24

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi, has approved an increase in the Minimum Support Prices (MSP) for all mandated Kharif crops for the Marketing Season 2023-24.

1 min

Dhanuka Q4 net revenue up by 16% to Rs 371 Cr

Dhanuka Agritech has announced its financial results for the fourth quarter of FY 2022-23, ending in March 2023, revealing a net revenue of Rs 371.23 crore.

1 min

Bayer CropScience reports Rs 9,825 M income from operations in Q4 FY22-23

Bayer CropScience Limited announced its financial results for the quarter and financial year ended March 31, 2023.

1 min

Renuka Sugars achieves 40% growth in Q4 FY23

Shree Renuka Sugars Limited, a leading sugar and green energy (ethanol and renewable power) producer and a subsidiary of Wilmar Sugar Holdings Pte Ltd, Singapore, has released its financial results for the quarter and year ended March 31, 2023.

1 min

Satyukt raises Rs 10 Cr from NABVENTURES Fund

Satyukt Analytics Private Limited, a Bengaluru-based agri analytics startup has announced the successful completion of a pre-Series A funding round led by NABVENTURES.

1 min

AgriFoodTech spend drops 33%, but innovations targeting farmers, climate change, rise

The fifth India AgriFoodTech Investment Report, jointly released by AgFunder and Omnivore, unveils a significant decline of 33 per cent in startup investment, amounting to $2.4 billion compared to $3.6 billion in 2021.

1 min

Nazara Tech invests in RVCF-backed Freshokartz

Freshokartz, an agritech platform, has recently launched India’s pioneering social commerce super app, specifically catering to village-level entrepreneurs (VLEs), in Rajasthan, Madhya Pradesh and nearby states.

1 min

IITM Pravartak and WayCool Foods join forces for Regenerative Agriculture

WayCool Foods, India's leading food & agri-tech platform, has entered into a strategic partnership with IITM Pravartak to expand the offerings of IITM's RASA (Regenerative Agriculture Sustainable Architecture) tech stack for farmers.

1 min

Leads Connect Services, Ensuredit launch 'Leads Ensuredit'

Noida-based agritech data, risk management, and financial services company Leads Connect Services, and Ensuredit, an AI-based insurance distribution platform, have announced the establishment of a strategic joint venture (JV) named 'Leads Ensuredit Private Limited'.

1 min

WRMS' SecuRisk Platform wins InsurTech Connect Asia Award 2023

Weather Risk Management Services (WRMS), a leading agriculture and dairy risk management company, has announced its participation in ITC Asia 2023, a prestigious InsurTech event.

1 min

Hong Kong restricts chicken egg import from India

The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department in Hong Kong has issued an announcement regarding the import of poultry eggs from India.

1 min

Inland fish production surges by 400% in two decades

The expansion of inland fish production, primarily driven by aquaculture, has been remarkable.

1 min

mooMark launches Heat Index Insurance plan to protect dairy farmers

The fintech arm of Stellapps', called mooPay, in collaboration with IBISA Network, HDFC ERGO & Gramcover, has introduced an innovative Heat Index-based insurance plan for dairy farmers.

1 min

Unified Registration Portal for GOBARdhan launched

Gajendra Singh Shekhawat, the Union Minister for Jal Shakti, has launched the Unified Registration Portal for GOBARdhan.

1 min

OVO Farm implements blockchain tech in poultry industry

OVO Farm, the leading egg producer in East India, is revolutionising the Indian egg industry through product and process innovation to establish trust and transparency for consumers.

1 min

Centre approves Rs 7,500 Cr projects for modern fishing harbours

Parshottam Rupala, Union Minister of Fisheries, Animal Husbandry and Dairying, along with Sarbananda Sonowal, Minister of Ports, Shipping and Waterways, initiated the project for the modernisation and upgradation of Cochin Fishing Harbour at Thoppumpady, Willingdon Island, Cochin Port Authority, Cochin.

1 min

Climate-resilient agri solutions discussed at AgroSpectrum Asia portal launch

Dr C D Mayee, former Chairman of the Agricultural Scientists Recruitment Board (in the centre) launched the AgroSpectrum Asia portal in presence of dignitaries (from L-R) Ravindra Boratkar, Publisher and Managing Editor of AgroSpectrum, Dr Ashok Dalwai, CEO of the National Rainfed Area Authority, Dr Smita Sirohi, Joint Secretary - G20/ BRICS & SCO, Pawan Agarwal, CEO of the Food Future Foundation and Milind Kokje, Chief Editor of AgroSpectrum on June 5 in New Delhi.

4 mins

Future-proofing with REGENERATIVE Agriculture

In a significant development for the regenerative agriculture sector, IITM Pravartak and WayCool Foods have joined forces to create the Regenerative Agriculture tech stack. This collaboration, which brings together the expertise of IITM Pravartak and the deep industry knowledge of WayCool Foods, aims to revolutionise farming practices in India and establish a robust ecosystem for regenerative agriculture. By leveraging innovative solutions and advanced technologies, the partnership seeks to drive the adoption of sustainable agricultural practices among Indian farmers, contributing to a greener and more sustainable future.

10+ mins

Largest Grain Storage Plan: Strengthening India's Food Security

The government of India has recently given its approval to the World's Largest Grain Storage plan, aimed at addressing the shortage of food grain, particularly at the local level, and enhancing the country’s food security. However, implementing the plan presents its own set of challenges. The government must consider the possibility of creating these warehouses for public usage, which requires careful planning. It is crucial for the government to also consider reintroducing The Farmers’ Produce Trade and Commerce Promotion and Facilitation) Act. By integrating these warehouses with the eNAM National Agriculture Market) platform, depositors would have the freedom to sell their produce at their preferred time and location, providing them with greater flexibility and market access.

7 mins

Govt's decision to hike MSP for Kharif crops is a master stroke: Experts

The Indian government’s recent announcement of increasing the minimum support prices (MSP) for Kharif crops for the marketing season 2023–24 has been hailed as a masterstroke by experts. Led by Prime Minister Narendra Modi, the Cabinet Committee on Economic Affairs (CCEA), has approved the MSP hikes for various crops.

4 mins

"Capital infusion from both the government and private investors will definitely boost the horticulture sector"

Founded in 2010, Sahyadri Farms Post Harvest Care Limited, based in Nashik, has emerged as the largest exporter of grapes in India. Remarkably, Sahyadri accounts for nearly 17 per cent of all grapes exported from the country. In 2022, the company clocked a revenue of nearly Rs 800 crore. To further strengthen its operations, it recently raised Rs 310 crore in growth capital from a group of impact-focused investors including Incofin, Korys, FMO and Proparco. Besides, Sahyadri Farms, India’s largest integrated value chain owned by small and marginal farmers, announced the introduction of Employee Stock Ownership Plans ESOPs) worth Rs 45 crore for its employees in 2023. This forms part of the total ESOPs pool amounting to Rs 70 crore. Vilas Shinde, Chairman and Managing Director of Sahyadri Farms Post Harvest Care Limited expressed his insights on the horticulture value chain in India during an interview with AgroSpectrum. Edited excerpts;

4 mins

How biotechnology can transform poultry farming

Global meat consumption is growing exponentially because of rapid urbanisation and population growth. This surge is driven not only by increasing numbers but also by changing lifestyles, particularly in developing countries. Poultry birds known for their white meat, contribute significantly to the overall meat supply. To meet the escalating demand for meat and its products, the advent of the biotechnology revolution presents a multitude of opportunities in the poultry industry. Biotechnology is no longer limited to merely enhancing farming practices; it now encompasses a broad range of transformative impacts on poultry production and the food systems that support it.

4 mins

Genomics-Assisted Breeding: A new era in crop development

Food shortages arise more frequently owing to unpredictable crop yield losses caused by biotic and abiotic stresses. With advances in molecular biology and marker technology, a new era of molecular breeding has emerged that has greatly accelerated the pace of plant breeding. High-throughput genotyping technology and phenotyping platforms have enabled large-scale marker-trait association analysis, such as genome-wide association studies, to precisely dissect the genetic architecture of plant traits. Large-scale mapping of agronomically important quantitative trait loci, gene cloning and characterisation, mining of elite alleles/haplotypes, exploitation of natural variations, and genomic selection have paved the way towards genomics-assisted breeding GAB). With the availability of more and more informative genomic datasets, GAB would become a promising technique to expedite the breeding cycle for crop improvement.

4 mins

Backward integration: Empowering Indian agrochemical companies to control their supply chain

The Indian agrochemical industry is witnessing remarkable growth, driven by a number of factors including increasing population, rising food demand, export opportunities, and technological advancements. With a substantial labour force and lower production costs compared to many other countries, Indian manufacturers have the advantage of producing agrochemicals at competitive prices relative to their foreign counterparts. India has emerged as a major player in the global agrochemical market, driven by a growing demand for crop protection products.

2 mins

How competitive gas sourcing through Exchanges can boost India's fertiliser industry

Gas Exchanges provide an alternate avenue for buyers from the fertiliser sector and sellers to meet their natural gas demand and facilitate transparent price discovery. This inherent quality of Gas Exchanges has led to consistently lower price discovery as gas accounts for 70-80 per cent of the cost of fertiliser production.

4 mins

ISC, ICAR-CCRI launch the website of Asian Citrus Congress-2023

Nitin Gadkari, Union Minister for Road Transport and Highways, inaugurated the website of the Asian Citrus Congress-2023 (ACC-2023) in Nagpur.

1 min

ICAR and Amazon Kisan join forces to empower farmers

The Indian Council of Agricultural Research (ICAR), based in New Delhi has signed a memorandum of understanding (MoU) with Amazon Kisan to collaborate and leverage their respective expertise to guide farmers in scientific crop cultivation for optimal yield and income.

1 min

FMC India, GB Pant University jointly conduct bee keeping workshop in Uttarakhand

FMC India, a global agricultural sciences company, joined hands with GB Pant University of Agriculture & Technology (GBPUAT) to organise a one-day workshop on World Bee Day.

1 min

ICAR-NRCP's "A-Z of Pig Farming" Wins MANAGE's 'Best Book Award'

The book titled \"A-Z of Pig Farming\" authored by scientists from ICAR-National Research Centre on Pig, has been honoured with the \"First Prize' in the 'Best Book in Agricultural Extension' category by the National Institute of Agricultural Extension Management (MANAGE), Hyderabad.

1 min

ICRISAT, GSDA partner to revolutionise agri water conservation in Maharashtra

The International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), and the Groundwater Surveys and Development Agency (GSDA), in collaboration with the Water Supply and Sanitation Department of the Government of Maharashtra, have signed a Memorandum of Agreement (MOA) to spearhead an initiative for groundwater augmentation across seven districts of Maharashtra.

1 min

Nano-Yield, Shriram Farm Solutions inks liquid nano tech distribution deal

Nano-Yield has entered into an unprecedented agreement with Shriram Farm Solutions (A Unit of DCM Shriram Ltd) to license the distribution of its liquid nano technology internationally.

1 min

Amul unveils Advanced Organic Testing Lab in Gandhinagar

The Gujarat Co-operative Milk Marketing Federation Limited (GCMMF), the largest food products organisation in India, which markets products under the brand name Amul, has established a cutting-edge Advanced Organic Testing Laboratory at Amul Fed Dairy in Gandhinagar.

1 min

ICAR-DCFR gets patent for year-round Golden Mahseer breeding system

The ICAR- Directorate of Coldwater Fisheries Research (DCFR) in Bhimtal has been granted a patent for their invention titled, 'System for Year-Round Repeated Breeding and Higher Robust Fry Production of Golden Mahseer.'

1 min

Neogen unveils DNA test for enhanced Beef-on-Dairy cattle management

Neogen Corporation has introduced Igenity BeefXDairy, an innovative genomic test designed for beef-on-dairy calves.

1 min

Syngenta and FMC to commercialise grass weed control tech in Asian rice farming

Switzerland-based Syngenta Crop Protection and FMC Corporation have announced a partnership to bring a revolutionary technology for controlling grass weeds in rice to the Asian market.

1 min

Crystal Crop Protection, Batalle and MASI launch revolutionary Sikosa paddy herbicide

Crystal Crop Protection Limited, in collaboration with global leaders Batelle and MASI, has introduced Sikosa, an advanced herbicide developed through cutting-edge R&D powered by Banyan Technology.

1 min

Bayer Crop Science and Cargill to provide digital solutions to Indian farmers

Bayer CropScience, a global leader in agriculture, has entered into a Memorandum of Understanding (MoU) with Cargill, a global food corporation, to collaborate on delivering digital solutions to farmers in India.

1 min

Coromandel Intl sets up advanced nano DAP facility in Andhra Pradesh

Coromandel International Limited, a leading Indian agri solutions company, has announced the establishment of a state-of-the-art facility for producing 'Nano DAP', an advanced nanotechnology-based fertiliser.

1 min

Mahindra launches doorstep service for Rice Transplanters & Combine Track Harvesters

Mahindra & Mahindra’s Farm Equipment Sector (FES), a division of the Mahindra Group, has introduced a convenient door-to-door service for its range of Rice Transplanters and Combine Track Harvesters in Karnataka.

1 min

FMC launches herbicide and drone spray services for soybean crops in MP

FMC, a leading agricultural sciences company, has introduced its drone spray services and launched the Galaxy NXT herbicide specifically for soybean crops in Madhya Pradesh, a key agricultural region in central India, where soybean is grown widely.

1 min

Ayekart and UBFC partner to transform India's food and agri value chain

Ayekart, India’s pioneering integrated tech platform in the food and agri value chain and UBFC (Unnayan Bharat Finance Corporation) have announced a strategic partnership to unlock growth opportunities in India’s food and agriculture sector.

1 min

Samunnati collaborates with Maha FPO Federation for onion procurement in Maharashtra

Samunnati, one of India’s largest agri enterprises, and Maha FPO Federation have come together to facilitate farmgate procurement of onions in Maharashtra.

1 min

SLCM launches Agri Reach listing platform, revolutionising agri-ecosystem

SLCM, a leading global post-harvest agri-logistics company, has introduced a new listing platform on its Agri Reach Application.

1 min

Northeast India's 13 farm produces receive GI tag

The Queen pineapple of Tripura and 12 other fruits and vegetables from the Northeast region have been granted Geographical Indication (GI) tags.

1 min

Union Cabinet approves world's largest grain storage plan

The Union Cabinet has granted approval for the establishment and empowerment of an Inter-Ministerial Committee (IMC) to facilitate the implementation of the world’s largest grain storage plan in the cooperative sector.

1 min

Wheat procurement crosses 260 LMT mark in Rabi Season 2023-24

Wheat procurement for the ongoing Rabi Marketing Season (RMS) 2023-24 has been progressing successfully.

1 min

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AgroSpectrum Magazine Description:

Agrospectrum is a B2B digital media platform catering to all sub-sectors and verticals of the agro business – from food grains to inputs, machinery, live-stock, fisheries to agro tourism. It regularly updates on latest news on Agri—business and analytical & informative articles targeted at agro industry and business leadership, key decision makers; R&D, policy makers, academia and farmers’ community leaders. The portal is devoted to agriculture related business and not farming activity. It neither informs nor guides the farmers on direct farming, but handles allied and peripheral areas of agriculture related activity called agriculture business.