Page 9 - Agriculture Economy

SLCM, BoB tie up to provide collateral services for agricultural financing

Warehousing and collateral management firm Sohan Lal Commodity Management (SLCM) announced a strategic partnership with the state-owned Bank of Baroda on Wednesday to provide collateral management services for agricultural financing. The partnership will enable farmers to access credit against their crops through Bank of Baroda's nationwide network, the company said in a statement. SLCM reported its assets under management (AUM) rose 73 per cent to Rs 11,952 crore in the first half of fiscal 2024-25, compared to Rs Rs 6,911 crore in the year-ago period. SLCM Group CEO Sandeep Sabharwal said the company's Agri Reach technology and physical infrastructure will help minimise the default risk and improve financial access for the agricultural ecosystem. The company operates over 17,000 warehouses and 36 cold storage facilities across 19 Indian states, managing more than 1,080 commodities including cotton, pulses, and maize. SLCM currently maintains partnerships with more than 20 ...

30% of India's soil degraded, urgent action needed: Agri Minister Chouhan

Agriculture minister Shivraj Singh Chouhan stressed on the pivotal role of soil health in achieving sustainable development goals (SDGs) such as zero hunger, climate action, and life on land

As kharif harvest gains momentum, what's in store for crop prices?

As the Kharif harvest season intensifies, crop prices may see shifts driven by increased arrivals, inflation pressures, and recent govt interventions aimed at stabilising key agricultural commodities

Futures trading ban fails to cool retail prices in India, say reports

'Sans futures contracts, FPOs were unable to hedge against price fluctuations'

Honeywell India supports deep science startups in collaboration with IISc

These startups are focused on building innovations to solve pressing challenges in areas such as agriculture, healthcare, and renewable energy

India's rice inventories hit record high at 29.7 MMT, triples govt target

Rice reserves in state granaries totalled 29.7 million tons at the start of this month, up 48.5% from a year ago, said the sources who did not wish to be named in line with official rules

Reimagining agriculture's role in economic development and growth

An agriculture worker in China generates merely one-fourth of the income generated by a non-agricultural worker. India and Vietnam are close to China while Indonesia shows lower disparity

Rajasthan sees boost in rabi crop sowing after favourable monsoon rains

According to data from the state agriculture department, sowing areas of mustard, wheat, gram, and barley will increase

Finance ministry asks PSU banks to meet loan targets for agri-allied sector

The finance ministry has asked public sector banks (PSBs) to meet loan targets for the agri-allied sector during the current financial year. Department of Financial Services Secretary M Nagaraju in a meeting held on Tuesday reviewed the progress of credit disbursement to agri-allied activities like animal husbandry, dairying and fisheries with Public Sector Banks (PSBs), NABARD and State/ UT Level Bankers' Committee. Representatives of state governments/UTs, the Department of Animal Husbandry & Dairying and the Department of Fisheries also participated in the discussions, the finance ministry said on Wednesday. The secretary urged PSBs to take all necessary steps to ensure that respective targets are met during the current financial year and stressed the state governments to facilitate banks in improving the flow of credit to these sectors. Nagaraju underscored the importance of the allied sector in driving agricultural growth and its employment potential in rural areas and ...

Govt urges banks to boost credit flow for allied agri sectors; here's why

The allied activities receive only 10 per cent of the total agricultural credit while they contribute 40 per cent of the agricultural output, said the RBI report

Crystal Crop acquires I&B Seeds to boost flower and vegetable seed segment

Agrochemical firm Crystal Crop Protection on Monday said it has acquired Bengaluru-based I&B Seeds as it seeks to strengthen its position in India's vegetable and flower-seed segment. "The deal has been fully executed with shares purchased from two major shareholders. The share transfer was completed last week on the day of Diwali," Crystal Crop Protection Managing Director Ankur Aggarwal told PTI. While not disclosing the deal amount, Aggarwal said it is estimated at two-times I&B Seed's annual revenue of Rs 130 crore. The acquisition was funded through internal accruals and marks Crystal Crop's fifth purchase in the seeds business and twelfth overall. "This acquisition will contribute 30 per cent to our Rs 400 crore seed business," Aggarwal said, adding that the company will retain I&B Seeds' flagship brands 'Indus' and 'SPS'. India's flower and vegetable seed market is valued at over Rs 600 crore. The integration is expected to be completed within six months. "By ...

Kanda Express: How onion-laden trains impact farmers, consumers, traders

Onion procurement for the first train was done by the National Cooperative Consumers Federation of India Ltd and for the 2nd by National Agricultural Cooperative Marketing Federation of India Ltd

LT Foods Q2 results: PAT drops 4.9% to Rs 148 cr, revenue at Rs 2,108 cr

The company reported a 8.4 per cent rise in its overall expenses, propelled by a 32.2 per cent rise in cost of its raw materials

Rajasthan to hold agriculture pre-summit on Oct 24 to boost investments

Under the scheme, insurance of animals would be necessary and the borrower will have to get life insurance equivalent to the loan amount

Good monsoon raises hopes, but crop prices key to rural India turnaround

The good rains have also meant that residual moisture in the soil is better than in previous years which is likely to significantly aid in the planting and growth of the next rabi crop

India not in favour of facilitator-led process in WTO on agriculture issues

India on Monday expressed reservations over the facilitator-led process in the World Trade Organisation to discuss issues on agriculture, saying that it would potentially undermine ministerial mandates and take negotiations backwards, an official said. The issue came up during a meeting of Heads of Delegation (HoDs) dedicated to agriculture in Geneva at the World Trade Organisation (WTO). The official said that India has stressed on the urgency to address mandated matters like public stockholding (PSH), special safeguard mechanism (SSM), and cotton issues in dedicated sessions, separate from broader agriculture negotiations. "India noted that the facilitator-led process would potentially undermine Ministerial mandates and it would take negotiations backwards. It also raised concerns about transparency, neutrality, and inclusive discussion in the facilitator model and warned against creating new pillars, as it would complicate negotiations further," the Geneva-based official said. I

Centre forms panel to reduce gap between farm to fork in perishables

Agriculture minister suggests shared transport costs between Centre, states to reduce consumer prices for perishable goods like tomatoes, while also proposing agricultural reforms for small-scale farm

Bayer, Mitsubishi, Shell, Temasek to generate carbon credits for farmers

Bayer and Mitsubishi are global leaders in the agriculture space while Shell is big in energy

Farmers suggest govt to create 'model farm' to showcase profitable farming

A group of farmers on Thursday suggested the government to create a model farm giving information on ways to make farming profitable even in one to two-and-half acres land. These suggestions were made to Agriculture Minister Shivraj Singh Chouhan during a weekly interaction with the farmers and farm bodies here at the Pusa campus. "Farmers also gave examples of farmers doing profitable farming in one-acre farms," an official statement said. They discussed providing water, use of fertilizers, making the soil healthy, problems due to losses in natural disasters, closure of sugar mills and problems of stray animals, etc. Farmers have also given suggestions for promoting Srianna (millets). The Union Minister promised to consider the suggestions seriously and try to resolve them. He said the matters related to the state government will be sent to the states and the departments will take action on the matters of the central government. Chouhan also thanked Haryana Chief Minister Nayab

Tomato price volatility exposes gaps in India's agriculture supply chain

Among the vegetables that constitute the trio of TOP (tomato, onion, and potato), tomato is believed to experience the most volatility in prices