CATEGORIES

"CDMOs can play a significant and evolving role in the growth of the agrochemical industry in India"

Insecticides (India) Ltd is India's leading and one of the top ten Indian agrochemicals manufacturing companies. IIL has emerged as a front-line performer in India's crop care market with a top line of Rs 1192 crore in 2018-2019. In 2022, it launched its innovative biological product for improving the health of the soil called Kayakalp, the soil energiser which has received an overwhelming response. The company has state-of-the-art formulation facilities at Chopanki (Rajasthan), Samba & Udhampur (Jammu & Kashmir) and Dahej (Gujarat). IIL also has two technical synthesis plants at Chopanki and Dahej to manufacture technical grade chemicals providing the competitive edge by backward integration. Rajesh Aggarwal, Managing Director, Insecticides (India) Limited shares his views on the status of the agrochemical industry in India with AgroSpectrum. Edited excerpts:

Impact of Export duty on Onion

The implementation of 40 per cent export duty on onions is poised to discourage certain farmers from planting onions during the current Kharif season. This decision comes after a period of subdued onion prices over the past 18 months, and the move to limit exports aims to prepare for late Kharif onion cultivation. Nationallevel agricultural challenges, including economic recessions, have resulted in significant delays for major Kharif crops. The ongoing drought conditions cast uncertainty over the future cultivation of Rabi (summer) onions. Consequently, farmers will likely be motivated to grow crops that yield immediate financial gains during this crisis.

India's Soaring Coconut Exports

India is third in the world in terms of coconut planting area but first in terms of production and productivity. According to data from Tamil Nadu Agriculture University Coimbatore, India produced 192.47 million nuts of coconut in 2021-22, making up more than 31 per cent of the world's total and producing 9123 nuts per hectare. Coconuts are grown on 2.10 million hectares of land in the country. The number of coconut-based businesses in India is on the rise, which is good news, translating to more options for consumers and more jobs in the current competitive scenario.

Export demand ramps up for value-added fish products

Fish not only provides a food source but also contains important substances that can be extracted and utilised in various forms of fish products. Some of these valuable products are fish meal, fish oil, dry fish, fish flour, fish silage, fish soluble, Shark fin, fish skin, etc.

Leveraging Value-addition to Enhance Farmers' Income

India recorded agricultural exports of $43.37 billion, registering an increase of 6.04 per cent in the financial year (April 2022 January 2023). As the international market for value-added products is constantly growing, it is time India moved faster towards export of agri products.

Bolstering Value-Added Agri Exports

Food processing involves the conversion of raw agricultural materials into consumable products or the transformation of one type of food into various other forms. This encompasses a wide spectrum of techniques, ranging from grinding grains to produce raw flour, engaging in home cooking, to employing sophisticated industrial methodologies for crafting convenient foods. Considering the fact that India is the world's largest producer of spices, milk and pulses and the second largest producer of tea, sugarcane, food grains, fruits, and vegetables, there has been continuous attention of policymakers to process it for a variety of reasons, reducing food loss and waste, increasing shelf life, enhancing farmers' income, and making food available to India's growing population at affordable prices.

How Warehousing Reforms Impact Agri Growth & Resilience

In light of the recent announcement by Union Minister Anurag Thakur about introducing the ‘world’s largest food grain storage plan’ with warehouses in every block across the country under cooperative societies, it becomes essential to assess and emphasise the role of warehousing reforms for agricultural growth.

Unleashing Immense Potential of Biotechnology & Biologicals

In a rapidly growing and urbanising India, a sustained agricultural growth and food security must be factored. Biotechnology holds great promise for enhancing crop resilience and promoting sustainable agricultural practices. One particularly promising approach gaining traction in recent years is the development of microbe–plant interactions for plant growth promotion and disease control. The interaction of plants and microbes forms an integral part of the Earth’s ecosystem and have applications in various fields. Studying and harnessing this communication can improve our understanding of natural phenomena that affect our daily lives and enable us to adopt practices that lead to sustainable resource utilisation, reduced environmental impact, pollution cleanup, and even influence on global atmospheric gases.

"The regulatory environment will play a crucial role in shaping the introduction of new technologies"

Corteva Agriscience is a global pure-play agriculture company that excels in industry-leading innovation, high-touch customer engagement, and operational execution to provide profitable solutions for the world’s most pressing agriculture challenges. With a unique distribution strategy, and a balanced mix of seed, crop protection, and digital products and services, Corteva generates advantaged market preference on a global scale. Recently, Corteva Agriscience commemorated the 50-year legacy of Pioneer Seeds in Hyderabad. To mark this milestone, Tim Glenn, Executive Vice President of the Seed Business Unit at Corteva Agriscience, graced the event and sat down with AgroSpectrum for an exclusive interview. In this discussion, he shared his insights into the latest trends and technologies in the seed industry, shedding light on their vision to establish India as an innovative seed hub.

"India's lower cotton productivity stems from outdated farming practices, insufficient irrigation facilities and poor seed quality"

Godrej Agrovet Limited’s (GAVL) Crop Protection Business made headlines with the launch of PYNA, an umbrella brand for sustainable cotton production in May, 2023. As a pioneer in introducing the concept of selective cotton herbicides in various markets, GAVL is set to offer three of its cotton weed management products, Hitweed, Hitweed Maxx, and Maxxcott under the PYNA brand. The brand aims to minimise crop–weed competition and facilitate the establishment of cotton crops during their early stages, which has a positive impact on the yield. In an interaction with AgroSpectrum, Rajavelu N K, CEO of the Crop Protection Business at Godrej Agrovet Ltd, shared his views on how the company is addressing the challenges faced by cotton farmers and its future plans. Edited excerpts:

"India has emerged as a favourable option for countries seeking to reduce their dependency on China"

Safex Chemicals India Limited is a prominent agrochemical company with over 500 employees and a wide network of 10,000 distributors. The company is a leading player in the manufacture and sale of crop protection products across India, operating in 17 states. Over the past five years, Safex has achieved an impressive revenue performance with a Compound Annual Growth Rate CAGR) of more than 25 per cent. Shedding light on the company's future plans and the current status of the agrochemical industry, S K Chaudhary, the Founder and Director of Safex Chemicals, shares his insights in an exclusive interview with AgroSpectrum. Edited excerpts:

India's Booming Marine Exports

India’s seafood exports hit an all-time high during the fiscal year 2022-23, with a shipment of 17,35,286 metric tonnes MT) of seafood valued at Rs 63,969.14 crore 8.09 billion). Despite challenges in major export markets like the USA, India witnessed significant growth in both volume and value. Frozen shrimp remained the primary export item in terms of quantity and value, while by-products like surimi ranked as the third largest, generating Rs 2,013.66 crore. Fish and seafood exports from India have been steadily increasing in recent years. The market for seafood is expected to continue growing, leading to soaring exports in the coming years.

APAC Vertical Farming market poised for 43% growth

Recent Technavio market research analysis predicts that the vertical farming market size will increase by 6.49 billion between 2021 and 2026, growing at a compound annual growth rate CAGR) of 16.55 per cent. APAC is expected to contribute 43 per cent of this market's growth during the projected period. Notably, China and India are the two biggest vertical farming markets in APAC, indicating rapid expansion in this region. The rise in population and decreasing availability of arable land over the projected period are driving factors behind the growth of the vertical farming market in APAC. Let's examine how this innovative farming trend is being adopted and implemented across the APAC region.

VIABILITY of Vertical Farming

The past decade has witnessed an increased dependence on technology and tech-enabled agriculture. The government, too, has been actively promoting the adoption of agri innovations, including AI, ML and monitoring of crops via satellite. With a focus on increasing productivity and providing precise data to cultivators for informed planning, technology has made significant inroads. Vertical farming is one such technological marvel gaining traction worldwide. It is particularly popular in smaller countries facing land constraints and water scarcity. Countries such as Singapore, the Middle East, the UK, and Japan have embraced vertical farming, revolutionising their agriculture. However, in India, while vertical farming has gained some momentum, its adoption remains limited to urban areas, as traditional farming is still the more convenient and profitable choice for rural cultivators. Yet, there is a new crop of startups that are keen to make vertical farming widely accepted by farmers and consumers alike. Let’s explore this further.

Unified Registration Portal for GOBARdhan launched

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

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.

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.

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.

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.

Inland fish production surges by 400% in two decades

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

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'.

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.

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.

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.

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.

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.

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.

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.

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.

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.