Media Monitor
Agriculture Industry
Dhanuka Agritech Limited approves Rs. 200 crore backward integration projectedit
Equity Bulls – Online
The board of directors of Dhanuka Agritech Limited (the company) in its meeting held on February 2, 2021 has discussed and approved the setting up of a plant for technical manufacturing of Pesticides, i.e., backward integration process, at Dahej, Gujarat.
The company has a plot of approx. 1,37,000 square meters at Dahej, Gujarat which was acquired in 2013.
The setting up of this unit will involve an investment outlay of approx. Rs. 200 crores initially, which will be managed from internal accruals of the company.
The setting up of the above unit will improve the company’s position with other players for procuring the raw materials under the barter system. It will help the company to expand ...
Board of Dhanuka Agritech approves setting up a pesticides manufacturing plant at Dahejedit
Business Standard – Online
The Board of Dhanuka Agritech at its meeting held on 02 February 2021 has approved the dissolution of the wholly owned subsidiary of the company in Bangladesh. The Board also approved setting up a plant for technical manufacturing of pesticides i.e. backward integration process, at Dahej, Gujarat.
WayCool Leads The Agritech Market-Linkage Space With Highest Revenue, But Origo Gets Attention With Profitabilityedit
Inc42 – Online
The Agritech sector has been getting investor attention for a few years now. Strong tailwinds formed by restricted movement, migration of labour and increased consumer awareness regarding health and wellness have helped accelerate technology adoption throughout the farming ecosystem during Covid times.
From 43 startups in 2013 to more than 1,000 in 2020, there are innumerable opportunities for everyone in the agritech space. In this article we analyse the financials of various companies within the market- linkage segment of the agritech landscape.
Budget
Budget 2021: No agritech focus, startups pin hopes on agri-infra, credit allocationsedit
VCCircle – Online
In the absence of specific initiatives for agritech businesses in the latest budget, startups in the sector hope to leverage the balanced focus on agri-infrastructure and capital flows to allied areas of value creation.
However, the agriculture sector, as a whole, received ample focus.
Agriculture credit target was increased to Rs 16.5 lakh crore from the previous year’s Rs 15 lakh crore. This is expected to open opportunities for agri-fintech startups to build innovative agri credit products and services. The increased funding can incentivise technology startups to build specific initiatives to improve the farm-to-fork supply chains to boost farmer incomes and reduce food wastage. Mandi digitalisation is a huge opportunity as well.
Budget 2021: FM tries to appease farmers’ angstedit
Fortune India – Online
Amid the ongoing nationwide protests by farmers opposing a set of farm reform laws, Finance Minister Nirmala Sitharaman on Monday tried to pacify the agitated farmers by announcing a slew of proposals to boost agriculture in her Budget speech.
In an effort to provide adequate credit to farmers, while presenting the Budget for 2020-21, Sitharaman proposed an increase in agricultural credit target to ₹16.5 lakh crore for financial year 2021-22. For FY21, the farmer credit target was set at ₹15 lakh crore.
Stubble Burning
‘Punjab got lion’s share of stubble help’edit
Times of India – Online
Punjab received 46% of Rs 1,727 crore central funds for curbing stubble burning in the last three years but saw a 15% increase in farm fires over the 2017 figures while Haryana and Uttar Pradesh significantly reduced crop residue burning during the same period, the Centre informed the Supreme Court on Tuesday.The ministry of environment, forest and climate change, through solicitor general Tushar Mehta and additional solicitor general Aishwarya Bhati, gave details in an affidavit about the steps taken by the newly-set up Commission for Air Quality Management in the National Capital Region and Adjoining Areas.
It said feedback had been sought from the Punjab chief secretary on making available crop residue management (CRM) machines ...
Clean energy, renewables, stubble burning: What the Union Budget 2021-22 missededit
Down To Earth – Online
Cleaner fuel for cooking, renewable energy targets and managing stubble burning remained conspicuously absent in the Union Budget 2021-22, presented by Union finance minister Nirmala Sitharaman February 1, 2021.
The Budget lost the opportunity to address the rural sector as well, where the Union government’s Ujjwala Scheme will be extended to only 10 million additional beneficiaries. According to the last Census of India (2011), 63 per cent rural households used firewood as primary cooking fuel and 23 per cent crop residues and cow dung cakes.
Facilitating rural areas to shift to cooking gas will not only curb carbon emissions, but also reduce indoor air pollution and associated health issues.
Tractor industry
Mahindra & Mahindra posts 50% rise in January tractor sales at 34,778 unitsedit
Moneycontrol – Online
(M&M) on Monday reported a 50 percent increase in total tractor sales at 34,778 units in January 2021.
The company had sold 23,116 tractors in January 2020, M&M said in a statement.
Domestic sales in January were at 33,562 units as against 22,329 units during the same month of last year, it said.
Total tractor exports in the previous month stood at 1,216 units, the company added.
Escorts tractor sales jump 49% to 9,021 units Jan 2021edit
CNBC – Online
Farm equipment manufacturer Escorts Agri Machinery on Monday reported a 48.8 percent jump in tractor sales at 9,021 units in January 2021. The company had sold 6,063 units inJanuary2020.
Domestic tractor sales during last month stood at 8,510 units as against 5,845 units inJanuary2020, up 45.6 percent, Escorts said in a BSE filing. Escorts said the tractor market continues to be strong on back of positive macroeconomic factors and strong rural cash flows.
”The supply side situation is normalising and is no longer expected to be a bottleneck to meet demand. However, rising inflation continues to be a worry,” the company said. Exports last month grew to 511 units compared with 218 units inJanuary2020.