CATEGORIES

3 Transformative Factors of Indian Agrochem Market

India’s agrochemical industry has consistently clocked a double-digit CAGR of 16 per cent over the last five years against the global CAGR of 3 per cent.

"Greater awareness among farmers about benefits of oilseeds production is vital"

The bulk of edible oil consumed in India is imported thereby imposing a huge burden on the industry to reduce its heavy dependence on imports. While the government is working towards solving this import dependency, the Indian edible oil industry is also stepping up to this challenge. In this regard, AgroSpectrum interacted with Gokaran Singh Pawar, General Manager - Sales & Operations, M K Agrotech, who spoke at length about the status of the Indian edible oil industry and the company's growth plans. Sunpure edible oil brand is a part of Srirangapatna, Karnataka-based MK Agrotech. The company is present in key markets across India, namely, Karnataka, Andhra Pradesh, Telangana, Tamil Nadu, Maharashtra, Goa and Kerala.

Adopting Eco-Friendly Alt Biodegradable Packaging

Agriculture-based industries generate a huge amount of waste from different agricultural activities. About one-third of the total food produced globally per year for consumption remains unconsumed and therefore gets wasted as stated by the Food and Agricultural Organisation (FAO). Food waste is one of the most difficult tasks the world is facing currently. Yet, just as any negative scenario can be turned into a positive with innovative endeavours, so too can this agri waste be put to good use. Let's explore how the packaging industry can leverage this apparent waste.

"We need to focus on creating value-added products from crop residue"

Founded in 2018, Craste purchases crop residues from farmers and recycles them to make packaging materials and engineered boards for furniture. Operating under the company name, FUMA Labs Private Limited, the startup repurposes crop waste into moulded packaging, paper products, packaging and particle boards, helping farmers earn additional revenue. Craste has received several grants such as BIRAC SOCH Award, Biotech Ignition Grant (BIRAC), and AB InBev Grant, among others. The startup is also building packaging solutions using crop residue. It has developed a patent-pending technology, Fumasolv, to extract Lignin from crop residue to develop packaging solutions. The startup operates on the B2B model and sells its boards and packaging materials to businesses. It also works on research and development to create custom-made packaging solutions for its clients. AgroSpectrum interacted with Shubham Singh, Founder, FUMA Labs to learn more about the potential of agri -waste in allied industries.

A Midas Touch For Agri Waste

Human endeavours have scaled new heights in all spheres of 'civilisational' comforts and scientific advancement, including growing resilient and high-yielding crops. Agricultural activity has reached the zenith of modern food cultivation potential. Yet, one common thread of these endeavours is the sheer volume of waste generated. Agriculture and allied industries, too, are bogged down by this. The Ministry of New and Renewable Energy (MNRE) statistics show that annually India generates about 500 million tonnes of agricultural and agro-industrial leftovers. According to a recent media report, between 16 and 17 million metric tonnes (MMT) of grains are lost each year due to inefficient food management systems. Unscientific grain harvesting and storage practices are mostly to blame for this problem. The same holds true for the massive wastage of fresh fruits, vegetables, milk and dairy products every year due to antiquated storage, transport and distribution methods. However, numerous initiatives are now being taken to minimise and convert this agricultural waste into various types of products and services. As things are changing for the better, although at a slow pace, let's take this up with a few industry insiders who can shine some light on this pressing issue.

Agriculture is Prime Focus

According to the Economic Survey 2022-23, the performance of the agriculture and allied sector has been buoyant over the past several years, with private investment in agriculture increasing to 9.3 per cent in 2020-21.

DigITech Push for Agro Growth

Finance Minister Niramala Sitharaman seems to be trying to give a digital and technological push to the agriculture sector by proposing to build digital public infrastructure for agriculture and set up Agriculture Accelerator Fund for innovating and affordable solutions for challenges faced by farmers.

Do Contract Farming Advantages Outweigh Concerns?

Contractual agreements between the farmers and agribusiness companies have gained immense momentum in many developing countries including India. Besides ensuring economies of scale, contract farming facilitates access to technology, capital and quality inputs for the farmers. Consequently, the arrangements hold much significance given that agriculture accounts for 16 per cent share in India’s GDP against its 4 per cent share in world GDP and 55 per cent of the country’s population is dependent on it. However, there are a number of business and legal challenges plaguing the commercial agreements between the sponsoring companies and the farmers. Enforceability of contracts by either party is a worrisome aspect that calls for immediate attention from the various stakeholders. The centre announced the Model Agricultural Produce and Livestock Contract Farming Act 2018 with a view to address such discrepancies. The primary purpose was to legi$mate contract farming in India which has been largely based on the provisions of Indian Contract Act 1872. AgroSpectrum India digs deeper into the contract farming landscape to uncover the complexities and benefits.

Govt Intervention In Rice Exports: A Bane Or Boon?

As a temporary measure, in September, 2022, India banned export of broken rice and imposed a 20 per cent export duty on non-Basmati rice except for parboiled rice to boost domestic supplies amid a fall in area under paddy crop in the current kharif season. AgroSpectrum spoke to the industry leaders on pros and cons of this action, which the government has undertaken for food security concerns of the country keeping in line with the achievement of SDGs (Goal 2: Zero hunger).

Challenges of the Millets Industry

Post-pandemic we saw a paradigm shift in consumer choices and behaviour. People have changed, and the government is forced to act for better food quality, agricultural practices, technological advances and developing systems for ease of doing business.

How Technology Helps Agri Retailers Build a Competitive Edge

Agriculture, as we all know, is crucial to our sustenance, as it forms the foundation of our lives. Today, we cannot fathom an existence without agriculture, the primary source of our food, and given the growing population, the food requirements are only increasing further.

The two-day 13th Biennial AgriCorp Conference 22

There is a need to move towards precisionbased farming: Prof. Ramesh Chand

“The Centre can increase its focus on strengthening the institutions of farmers and not the market institutions per se”

Post the repeal of the farm laws last year, the centre was tasked with forming of a committee to give suggestions on making minimum support price (MSP) more effective, giving more autonomy to the Commission for Agricultural Costs and Prices (CACP) and pursue measures to strengthen the agricultural marketing system. So far, the committee has conducted two meetings and created subgroups to examine the important issues hindering the business of agriculture. In an interaction with AgroSpectrum India, Vijay Sardana, a renowned techno-legal advisor on agribusinesses in India, explains the key dimensions of agriculture along with the action points that such committees should undertake.

How Bacteriophage Solutions Revolutionise Poultry Farming

Given the high prevalence of disease in poultry due to intensive farming, innovative solutions such as bacteriophages are the need of the hour.

How Can India Improve its Portfolio of Exotic Honeys

India is home to the largest number of beehives (12.2 million) and is the eighth largest producer in the world, producing about 62,000 metric tonnes (MT) of honey worth Rs 21.1 billion (2020- 21). Today India contributes to only about 3.6 per cent of global natural honey exports worth Rs 6.62 billion, of which 73 per cent is exported to the US. The Indian honey market is anticipated to reach Rs 38.3 billion by 2027, growing at a CAGR of 10.31 per cent, according to IMARC report. The country's largest honey-producing states are West Bengal, Uttar Pradesh, Punjab, and Bihar.

‘We need more regional, central honey testing labs in India’

The increase in consumption of honey is a global phenomenon which was propelled by a growing awareness of health and well-being during the COVID-19 pandemic. Keeping in line with the expanding market, the government of India launched the National Beekeeping and Honey Mission in 2020 (under the Ministry of Agriculture and Farmers Welfare) to promote Indian apiculture and double the farmers income by 2024. In an interaction with AgroSpectrum India Namrata Khanna, Director, India Honey Alliance (IHA) shared her vision for a ‘Sweet Revolution’ along with the infrastructural and regulatory challenges plaguing the Indian honey market at large. Edited excerpts.

Tapping Uncommon Opportunity

In addition to honey, the activities of the magical insect lead to a variety of in-demand products and valuable benefits to agriculture including increase in crop production.

Prismatic View of Apiculture Profitability

The rising prevalence of chronic medical ailments, such as diabetes, heart disease, and cancer, represents one of the key factors positively influencing the honey market in India. In addition, the escalating demand for immunity-boosting and health-improving products is offering lucrative growth opportunities to honey manufacturers. The rising utilisation of honey in home remedies is also increasing the sales of honey in the country. Apart from this, scientific validation of the medicinal properties of honey and its rising usage in formulating medicines for the treatment of cough and acute throat infection on account of its antiviral, antifungal, and antibacterial properties is augmenting the market growth. Additionally, leading players are focusing on launching different product variants, which is propelling the market growth. Along with this, the Government of India is introducing various training programmes and mentoring services to educate farmers on the latest beekeeping practices. Furthermore, the expansion of organised distribution channels, such as supermarkets, hypermarkets, convenience stores, and general stores, along with the thriving e-commerce industry, is stimulating the market growth. Moreover, increasing investments by key players in research and development (R&D) activities to improve extraction processes are anticipated to drive the market further.

Tomar launches indigenous vaccine for ‘lumpy skin disease’ in livestock

Coming as a big relief to the livestock farmers across the country, the Union Minister for Agriculture and Farmers Welfare, Narendra Singh Tomar, has launched an indigenous vaccine, Lumpi-ProVacInd to protect livestock from Lumpy Skin disease.

PM dedicates 2G Ethanol plant in Panipat

On the occasion of World Biofuel Day, Prime Minister Narendra Modi dedicated the 2nd generation (2G) Ethanol Plant in Panipat, Haryana to the nation via video conferencing.