Page 6 - Agriculture Sector

In FY23, investments in mining, construction and manufacturing fell

Low capacity utilisation meant firms had less incentive to invest: Economists

Drone Destination partners Iffco for spraying agri products on 3 mn acres

Drone company Drone Destination on Monday said it has signed an agreement with cooperative major IFFCO for spraying agricultural products on up to 30 lakh acres of farm land. According to company officials, under the agreement Drone Destination could get paid in the range of Rs 400 to Rs 800 per acre at prevailing market rates, implying that the deal will fetch a revenue of Rs 120 crore in the lower price band and up to Rs 240 at upper price band. "We have secured a mandate for agri spray over 30 lakh acres. The prevailing market rate of such agri spray is in the range of Rs 400-800 per acre depending upon the region and the crop," Drone Destination managing director and CEO Chirag Sharma said. As part of the agreement, Drone Destination will undertake drone spray in 12 states across the country. These states include Andhra Pradesh, Bihar, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Telangana, Uttar Pradesh, Uttrakhand. "We are elated to partner wit

Madhya Pradesh farmers struggle to make the most of soaring wheat prices

In poll season, dwindling wheat production is a matter of political debate

Centre orders mandatory declaration of wheat stock position from April 1

The Union government said that the move is in a bid to manage the overall food situation and prevent hoarding and unscrupulous speculation

BS Manthan: Finding common ground in ideologically divided farm sector

India's farm sector needs a thorough relook as the country marches towards the cherished goal of a developed nation by 2047, which the panel discussions promise to deliver

Vishwas Agri Seeds' Rs 26 crore SME IPO to open Mar 21: Check issue details

The brand "Vishwas" enjoys a strong presence in the market, the company claims, as over the years it has developed a robust network of distributors across states like Gujarat, Rajashtan and MP

BPSC BAO 2024: Answer key released at official website of the commission

BPSC has declared answer keys for Bihar Agriculture Department recruitment exams conducted from March 1 to 4. Applicants can download it from official website of the commission

Stubborn approach of govt proving to be dangerous: BKU chief Naresh Tikait

Bharatiya Kisan Union president Naresh Tikait on Tuesday wondered whether the farmers will always be in the agitation mode, block roads or head towards Delhi? On the proposed February 16 bandh call given by Samyukta Kisan Morcha (SKM) and various organisations, Tikait said school vans, vehicles carrying patients and military vehicles will be allowed to go. The problems should be resolved through talks, he added. Asked to elaborate on the demands of the farmers, Tikait told PTI Video in Muzaffarnagar, "The demands are different from different states. Will the farmer always be undertaking agitation, block roads or head towards Delhi? "The government also has some (share) of responsibility. What is the problem in taking cognisance in these matters? And, the 'ziddi ravaiyya' (stubborn approach) is proving to be dangerous. The government should think (on these issues) and hold talks with the farmers," he said and asserted that Bharatiya Kisan Union (BKU) is always with the farmers. On .

Kota teen builds AI robot to help farmers assess soil health, water crop

A teenager in Rajasthan's Kota has built an all-purpose robot to help farmers assess soil and crop health, their water needs, and detect pests. Aryan Singh, 17, built the AgRobot at his school's Atal Tinkering Lab, a central government initiative to help school children hone their building skills. The son of a farmer, Aryan spent four years building the robot which won him the Pradhan Mantri Rashtriya Bal Puraskar under science and technology category. Aryan was the only boy from Rajasthan among nine boys and ten girls from 18 states and Union Territories who won awards. He got the award from President Droupadi Murmu in New Delhi on January 22 this year. "I belong to a farming family, grew up watching my grandparents and parents working in the field. While studying in class 10, I conceived the idea of developing a multi-task device and later developed a prototype that can reduce farmers' labour in the field," Aryan told PTI. The boy sent his proposal to NITI Ayog's Atal Innovatio

UPL Q3 results: Company posts consolidated net loss at Rs 1,217 crore

Sustainable agriculture products and solutions provider UPL on Friday reported a consolidated loss of Rs 1,217 crore during the December 2023 quarter. The company's net profit stood at Rs 1,087 crores during the corresponding quarter of the previous financial year, the company said in a regulatory filing. Its revenue from operations declined 27.72 per cent to Rs 9,887 crore in the quarter under review from Rs 13,679 crore a year ago. "Destocking continued to weigh down the global agrochemical market. Overall, prices remained stable quarter-on-quarter in the crop protection business but came off significantly compared to the high base of the previous year amid intense post-patent price competition. "Given this backdrop, our third quarter performance was significantly impacted by these headwinds in line with the rest of the industry, which is currently experiencing its worst downturn in decades," UPL Corporation CEO Mike Frank said. However, the company did see a pick-up in volumes

Budget 2024: A glance Budget 2023 announcements for agriculture sector

From welfare schemes to infrastructure & digital development, here are the highlights of Budget 2023 for the agricultural sector in India and the expectation for the Interim Budget 2024

China expands imports, planting approvals of additional gene-modified crops

The agriculture ministry approved the domestic production of six more varieties of genetically modified corn, two of soybeans and one of cotton, and another two of gene-edited soybeans

Can allied sectors save agriculture from the blushes in FY24?

The uneven southwest monsoon ensured that production of almost all kharif crops was down in 2023-24

Uttar Pradesh's priority sector lending likely to jump 52% in FY25

Against the aggregate credit flow of Rs 3.75 trillion in FY24, the advances of Rs 5.73 trillion will reflect a year-on-year (Y-o-Y) growth of 52 per cent

Import duties to open agri sector key to ensure India's food security: GTRI

Maintaining high import duties on sensitive agri commodities like rice and resisting pressure to open up the domestic sector to low tariffs will be crucial for preserving India's self-sufficiency and ensuring food security for its population, a report said on Monday. Economic think tank GTRI (Global Trade Research Initiative) in its report said that India needs to cut its reliance on imported vegetable oils to promote better health outcomes and also reduce the import bill. This will need educating consumers about the health benefits of using locally produced oils like mustard, groundnut, and rice bran in lieu of imported oils. India is the world's largest importer of vegetable oils, with imports estimated to double to USD 20.8 billion in 2023-24 from USD 10.8 billion in 2017-18. It added that the US and EU currently support agriculture by using the latest technology to maximise output, high tariffs (or import duties) to discourage imports and massive subsidies to push ...

Evaluating the Indian economy's resilience

A growth trajectory of 6.5 to 7.5 %, centred around 7 %, is reasonable in the coming years, barring the eventuality of simultaneous external shocks

Govt plans to sell FCI rice under Bharat brand, price not yet decided

In order to check rice inflation, the government is considering a proposal to sell FCI rice under the 'Bharat' brand but the discounted rate has not yet been decided, a food ministry official said on Wednesday. The ministry's efforts to check retail rice prices by boosting domestic availability through sale of FCI rice via e-auction under the Open Market Sale Scheme (OMSS) has received a lukewarm response. "There is a proposal to retail 'Bharat rice' but the price has not yet been decided," the official told PTI. Under the OMSS, the Food Corporation of India (FCI) is offering quality rice at a reserve price of Rs 29 per kg. "Whether to sell Bharat rice at the same rate or reduced rate, the decision has to be taken by the Group of Ministers," the official added. The government is already selling wheat flour (atta) and pulses under the Bharat brand through outlets managed by the National Agricultural Cooperative Marketing Federation of India (NAFED), National Cooperative Consumers' .

'Wheat sown in 30.86 mn HA, climate resilient seeds planted in 60% area'

After facing loss due to terminal heatwave last year, more farmers are cultivating climate resilient wheat varieties which has been sown in more than 60 per cent of the planted area of 30.86 million hectares so far, according to agriculture commissioner P K Singh. Wheat is the main rabi (winter) crop, sowing of which normally begins in November and harvesting is done from March-April. As per the agriculture ministry data, wheat sown area stood at 30.86 million hectares till December 22 of the ongoing rabi season, slightly lower than 31.44 million hectares in the year-ago period. "This is because there was a delay in wheat sowing in some parts where paddy harvesting got late. Otherwise, wheat sowing is progressing well," Singh told PTI. Keeping in mind the terminal heat problem that wheat farmers faced last year, the government this year has promoted climate resilient wheat varieties and kept a target to cover 60 per cent of the total cropped area, he said. "We have exceeded the ta

51.5% agri exports from just 5 products makes sector vulnerable: GTRI

India's agri export basket is dependent on just five commodities including rice and sugar and this makes the sector vulnerable to fluctuations in global prices and demand, a report by economic think tank GTRI said on Monday. The Global Trade Research Initiative (GTRI) said these five products -- basmati rice, non-basmati rice, sugar, spices, and oil meals -- account for 51.5 per cent of India's total agriculture exports. Furthermore, India grapples with various domestic challenges including infrastructural deficits, quality control issues, and non-tariff barriers, all of which impede the growth and competitiveness of its agricultural sector, it said. "This makes them (agri exports) vulnerable to fluctuations in global prices and demand," it said, adding these commodities also face frequent export bans in India. At present export of non-basmati rice is currently banned from India and India is also fighting at the WTO (World Trade Organisation) to protect subsidies to rice and wheat

Strong quake in China that killed at least 148 cause losses worth millions

The strong earthquake that hit northwest China this week, killing at least 148 people, caused economic losses estimated to be worth tens of millions in the agricultural and fisheries industries, state media said Saturday. Officials in Gansu conducted preliminary assessments that showed the province's agricultural and fisheries industries have lost 532 million yuan (about USD 74.6 million), state broadcaster CCTV reported. Authorities were considering the best use of the relief fund, set up days before, for the agricultural sector to resume production as soon as possible, the report said. The magnitude 6.2 quake struck in a mountainous region Monday night between Gansu and Qinghai provinces and about 1,300 kilometers (800 miles) southwest of Beijing, the Chinese capital. CCTV said 117 people were killed in Gansu and 31 others died in neighboring Qinghai, while three people remained missing. Nearly 1,000 were injured and more than 14,000 homes were destroyed. During a visit Saturday