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AgroSpectrum Magazine - August 2023

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In this issue

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.

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.

9 mins

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.

10+ mins

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.

7 mins

"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:

2 mins

"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:

4 mins

"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.

4 mins

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.

4 mins

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.

4 mins

Read all Stories from AgroSpectrum

AgroSpectrum Magazine Description:

Publisher: MM-Activ-Sci-Tech-Communication

Category: Business

Language: English

Frequency: Monthly

Agrospectrum is a B2B digital media platform catering to all sub-sectors and verticals of the agro business – from food grains to inputs, machinery, live-stock, fisheries to agro tourism. It regularly updates on latest news on Agri—business and analytical & informative articles targeted at agro industry and business leadership, key decision makers; R&D, policy makers, academia and farmers’ community leaders. The portal is devoted to agriculture related business and not farming activity. It neither informs nor guides the farmers on direct farming, but handles allied and peripheral areas of agriculture related activity called agriculture business.