https://agrospectrumasia.com/rssfeed/country/%28gcc%29%20gulf%20cooperation%20council (gcc) gulf cooperation council https://agrospectrumasia.com/news/70/844/saudis-sabic-solutions-win-5-edison-awards-for-innovations.html https://agrospectrumasia.com/news/70/844/saudis-sabic-solutions-win-5-edison-awards-for-innovations.html Wed, 26 Apr 2023 12:48:40 +0530 For the third year in a row, SABIC has been recognised for its innovations Saudi Arabia’s SABIC Solutions has been awarded five of the prestigious Edison Awards 2023 for its innovative solutions, designed to meet the needs of its customers and the broader value chain, and as well aligned with SAUDI Vision 2030. This is the third year in a row SABIC's solutions have been recognised by Edison Awards, which honour the world's most innovative new products, services, and business leaders, and this is the second year in a row that SABIC received at least five Edison awards.  SABIC won 3 gold and 2 bronze awards across three separate areas for its new products and solutions. These areas include ‘Food and Agriculture’, ‘Material Science’ and ‘Sustainability.’  These awards reflect SABIC's commitment to pushing the limits of science, technology and innovation and defining the future of chemistry that allows SABIC and its customers to address some of the world's biggest challenges. "SABIC is proud to be recognised for the third consecutive year by Edison Awards, demonstrating our continued leadership in new technology and innovation advancements. These are key elements of our continued business growth on our journey to be the preferred world leader in chemicals and provide innovative solutions for the future that create a more sustainable world," said Abdulrahman Al-Fageeh, CEO at SABIC. Notably, for its sustainability contribution, the Edison Awards recognised SABIC's collaboration in the innovative development of a frozen food packaging solution that uses recycled ocean-bound plastic.  Recognised as a gold award winner within the ‘Green Remediation’ category, the solution uses SABIC's TRUCIRCLE-certified circular polyethene from feedstock sourced from post-consumer plastic waste recovered from ocean feeding areas and rivers. The solution was designed in collaboration with the manufacturer of flexible film products, Polivouga and the brand owner Nueva Pescanova Group, who specialise in products like frozen seafood, making it a genuinely circular product. In the ‘Food and Agriculture Advancements’ category, SABIC was recognised as a gold award winner for its Blue Urea solution, a sustainable, low-carbon nitrogen fertiliser. SABIC Agri-Nutrients produced the product using ammonia that has a zero-carbon footprint and recently achieved the world's first independent certification for blue ammonia production. The third-party certification was made by TÜV Rheinland, a leading independent testing, inspection, and certification agency. To be certified as ‘blue’, a significant part of the CO2 associated with the manufacturing process needs to be captured and utilised in downstream applications.  Also, in the food and agriculture area, the Edison Awards bestowed a bronze award on SABIC's Next Generation Fertiliser which increases crop yield while reducing the need for large amounts of fertiliser. The unique multi-nutrient foliar fertiliser was developed with crop yield-building and protecting components in a single formula to provide nutrition and stress protection to plants. SABIC studies on the formulation have shown an improvement of up to 17 per cent in yield with up to 25 per cent reduction in fertiliser use. ]]> https://agrospectrumasia.com/news/70/824/saudis-red-sea-farms-announces-18-5-mn-strategic-fundraising.html https://agrospectrumasia.com/news/70/824/saudis-red-sea-farms-announces-18-5-mn-strategic-fundraising.html Mon, 24 Apr 2023 13:46:04 +0530 The fundraising was co-led by Wa’ed – the venture capital arm of Saudi Aramco and the Savola Group Red Sea Farms, Saudi Arabia and UAE AgTech business whose one-of-a-kind technology enables commercial farming using low energy, zero freshwater sustainable climate control, announces an $18.5 million strategic fundraising.  The fundraising was co-led by Wa’ed – the venture capital arm of Saudi Aramco and the Savola Group – the leading strategic investment holding group in MENA food and retail, through their corporate venture capital program. KAUST Innovation Fund, one of Red Sea Farms’ original investors, is also participating, along with OlsonUbben LLC, an investment entity owned by Tony Olson and Jeffrey Ubben. Tony Olson is the CEO of SPINS, a leading wellness-focused data company and advocates for the Natural Product Industry, and Jeffrey Ubben is the Founder and Managing Partner at Inclusive Capital Partners and a pioneer in impact investing.   Proceeds will support Red Sea Farms’ global and regional expansion plans – including expansion of the fresh produce business in the GCC.  Global expansion is focused on technology development, and productisation – with first-generation product sales expected by Q4 2022.  Red Sea Farms also announces the appointment of a new global COO and regional CEO for the Middle East, Simon Roopchand. The company will leverage Roopchand’s previous CEO experience with Lorne Stewart and proven track record in leading strategic growth to capitalise on the vast opportunities in the Middle East region. Operationally, Red Sea Farms has been very active and announced its expansion into the USA in January 2022. It has also completed a new commercial-scale 6-hectare technology retrofit site near Riyadh and an R&D facility at the King Abdullah University of Science and Technology in Thuwal – where technologies are delivering results ahead of expectations. Ryan Lefers, CEO of Red Sea Farms, said, “We are delighted to complete this $18.5 million fundraise and build on our impressive start to 2022. To have such esteemed investors believe in our vision is hugely validating and a testament to our business model and strategy. We’re excited to continue on our mission to address the reliance on freshwater consumption in food production and improve food security with their support and guidance. The appointment of Simon Roopchand as COO and regional CEO for the Middle East is another key milestone cementing our position as an innovative market leader and maximising our impact across the region.” ]]> https://agrospectrumasia.com/news/70/701/siig-invests-70-million-in-biogas-protein-startup-unibio.html https://agrospectrumasia.com/news/70/701/siig-invests-70-million-in-biogas-protein-startup-unibio.html Fri, 31 Mar 2023 10:14:30 +0530 The investment in Unibio will be paid in two tranches, the first tranche of approximately $25 million (GBP 21 million) is paid now with the second subject to applicable Foreign Direct Investment approvals Unibio International PLC, the leading sustainable protein company announced that the Saudi Industrial Investment Group (SIIG) has signed an agreement to invest approximately $70 million (GBP 59 million) in Unibio. The proceeds will be deployed to enable Unibio’s vision of feeding the world’s growing population sustainably. Unibio will use the funds to roll out new global production capacity, expand operating capabilities, and accelerate innovation and commercialisation. Through industrial protein production based on Unibio’s unique fermentation technology – the U-Loop technology – it is possible to improve food security and feed the world’s growing population sustainably without the use of arable land and with low water usage. The fermentation technology mimics a process that occurs in nature daily and uses methane (e.g. natural gas or biogas) as feedstock. The production of Uniprotein is efficient, stable, and independent of weather deviations that impact the production of traditional protein sources. Uniprotein is approved for feed in the European Union and global registrations are in progress. The protein provides nutrition on par with or better than other high-quality proteins, such as fishmeal, and has been tested successfully in various aqua and animal species. Uniprotein is free from pesticides, fully traceable, and non-GMO. It has been launched commercially and Uniprotein is attracting significant global interest from feed compound companies and animal and fish farmers. The production of Unibio’s protein for direct human consumption is under development. “We are delighted to welcome SIIG as a significant investor in Unibio. Their investment will enable us to play a pivotal role in meeting our customers’ need for sustainable protein. Unibio’s technology will improve food security and speed up the process of feeding the world sustainably. We are pleased that SIIG shares our ambition of providing food security for the world’s growing population and helping stop hunger (SDG2). We look forward to working together to make it happen,” David Henstrom, CEO of Unibio said. Abdulrahman S. Alismail, CEO of the Saudi Industrial Investment Group, added, “We are extremely pleased to invest in Unibio and see it as strongly aligned with SIIG’s new strategy to diversify its investments, enter new sectors focused on sustainability and new technologies, and develop partnerships with international companies. Unibio’s focus aligns with Saudi Arabia’s commitment to increasing domestic protein production and supporting food security through innovation and technology. We are investing in Unibio for the long-term and believe that by doing so we will contribute to a more diverse and sustainable economy.” The investment in Unibio will be paid in two tranches, the first tranche of approximately $25 million (GBP 21 million) is paid now with the second subject to applicable Foreign Direct Investment approvals.  BofA Securities acted as a placement agent to Unibio in connection with the transaction. ]]> https://agrospectrumasia.com/news/70/555/tanmiah-food-company-partners-with-mhp-group-to-boost-saudi-poultry-production.html https://agrospectrumasia.com/news/70/555/tanmiah-food-company-partners-with-mhp-group-to-boost-saudi-poultry-production.html Mon, 27 Feb 2023 16:05:19 +0530 The joint venture's primary focus will be developing and operating poultry breeding facilities and a greenfield hatchery in Saudi Arabia to hatch 108 million hatching eggs per annum. Tanmiah Food Company, an established market leader in the provision of poultry and other meat products, entered into a Memorandum of Understanding with MHP, the leading European producer of poultry. The agreement is the first step in establishing a joint venture between Tanmiah's wholly owned subsidiary, Desert Hills for Veterinary Services Company Ltd and MHP SE the parent company of the leading international food & aggrotech group headquartered in Ukraine. Supported by the government of Saudi Arabia, and in line with the food security goals of Saudi Vision 2030, the memorandum sets out the principles of establishing a joint venture with the aim of accelerating efforts to close the existing production gap in KSA's domestic poultry sector. The joint venture's primary focus will be developing and operating poultry breeding facilities and includes the establishment of a greenfield hatchery in Saudi Arabia to hatch 108 million hatching eggs per annum. It will also invest in feed milling facilities with the target of producing 137 thousand tonnes of feed per annum. The initiatives will be primarily funded by the Agriculture Development Fund of Saudi Arabia. MHP is set to provide a wide spectrum of industry expertise across the value chain to capture long-term opportunities and design best-in-class facilities fully adapted to local market conditions. The establishment of the joint venture company remains subject to necessary regulatory approvals including the clearance by the General Authority for Competition of Saudi Arabia and other applicable authorisations.  Zulfiqar Hamadani, CEO of Tanmiah, said, "The new partnership with MHP is yet another important step, demonstrating our resolve to contribute towards KSA's poultry self-sufficiency whilst reinforcing our pioneering role in supporting the Kingdom's food security and self-sufficiency objectives. In addition, as Europe's largest poultry producer, MHP brings a wealth of industry expertise that will advance Tanmiah's production capabilities and efficiencies, whilst enhancing our sustainability agenda."  Dr John Rich, MHP SE Executive Chairman, added, "This memorandum represents an important milestone in MHP's international strategy. I am confident that Tanmiah's excellent operational track record in combination with MHP's industry-leading poultry expertise can bring transformational results to the Kingdom on its way to achieving the food security goals of 2030 Vision. The agreement also brings closer together the people of Saudi Arabia and Ukraine." ]]> https://agrospectrumasia.com/news/70/554/saudi-arabias-dates-export-rise-by-5-4-in-2022.html https://agrospectrumasia.com/news/70/554/saudi-arabias-dates-export-rise-by-5-4-in-2022.html Mon, 27 Feb 2023 15:33:16 +0530 Export went up by 121 per cent over the period spanning between 2016 and 2022 Saudi Arabia’s National Centre for Palms and Dates announced that Saudi exports of dates increased by 5.4 per cent in 2022 compared with 2021 to reach SR 1,280 billion. According to the official statement, export went up by 121 per cent over the period spanning between 2016 and 2022, where the annual average of exports of Saudi dates over these seven years increased by 12 per cent. The centre pointed out that the development of the palm sector has helped increase the spread of Saudi dates in the majority of global markets, with 116 countries importing it.The centre noted that what has been achieved reflects the interest of the wise leadership in enhancing non-oil revenues and developing the work system for growing and improving palm production based on the Saudi Vision 2030, which has paid great attention to the palm sector and dates through its development and sustainability. It has also worked towards the preparation and implementation of programs to develop the sector and raise its contribution to the GDP. ]]> https://agrospectrumasia.com/news/70/518/redsea-reinforces-strategy-with-new-appointments-as-tech-is-deployed-globally.html https://agrospectrumasia.com/news/70/518/redsea-reinforces-strategy-with-new-appointments-as-tech-is-deployed-globally.html Thu, 09 Feb 2023 16:06:59 +0530 Bruno de Oliveira joins as Chief Agricultural Officer and Branko Lovic as Chief Plant Science Officer Saudi Arabia-based RedSea, the sustainable AgTech business whose pioneering technology enables commercial farming in hot climates globally, announces the appointment of two new divisional heads - Chief Agricultural Officer and Chief Plant Science Officer - reinforcing the company’s strategy to develop world-leading technologies for sustainable agriculture. Bruno de Oliveira joins as Chief Agricultural Officer after most recently consulting with Silal in Abu Dhabi, an ADQ subsidiary with a broad portfolio of agri-food enterprises, where he held the role of Head of Farms Development. Prior to this, Bruno was Agricultural Director of Fresh Produce at Canal Sugar, an integrated Agro-industrial project and the world’s biggest sugar beet processing plant in Egypt. Bruno has vast experience in managing commercial crops – including a diverse host of fruits and vegetables – across Europe, Africa, and the Middle East - managing major private and government farming businesses as well as nurseries in each region. In his new role at RedSea, Bruno will be responsible for overseeing all global agriculture sites, operations, and expansion as well as ensuring alignment with ESG and sustainability goals in agriculture practices. Branko Lovic joins as Chief Plant Science Officer following six years at United Genetics USA and its affiliates in Spain. He held several executive roles in different functions across sales, product development and supply chain.  Branko has significant experience within agriculture and plant science, having previously held the role of Technology Development Lead at Monsanto – the US agricultural biotechnology company acquired by Bayer in 2016 - and Global Seed Production Manager at Syngenta – one of the world’s leading agriculture companies. Branko will oversee RedSea’s plant science division and further the development of plant genetics to enable salt, heat, and drought-tolerant crops. ]]> https://agrospectrumasia.com/news/70/493/oman-government-confirms-safety-of-imported-agri-products.html https://agrospectrumasia.com/news/70/493/oman-government-confirms-safety-of-imported-agri-products.html Thu, 02 Feb 2023 13:59:07 +0530 Agricultural products in the country and those exported to Oman come from sources registered with the concerned regulatory Oman’s Ministry of Agriculture, Fisheries and Water Resources (MAFWR) has confirmed the safety of all imported agricultural products. It denied rumours of Oman is stopping agricultural shipments from one country in the region. A statement issued by MAFWR said, ‘The ministry would like to clarify regarding what is being circulated in social media about Oman stopping imports of agricultural products from a country. This information is incorrect and all imports of agricultural products from all countries are subject to examination and analysis according to a food control programme of the competent authority in the ministry.’ A team from the Centre for Food Safety and Quality and the Agricultural Quarantine Department visited the country at its request to find out about aspects of export regulations there. ‘The team confirmed that agricultural products in the country and those exported to Oman come from sources registered with the concerned regulatory authorities and farms are monitored to ensure correct agricultural practices.’ ]]> https://agrospectrumasia.com/news/70/491/pif-announces-vertical-farming-jv-with-us-based-aerofarms.html https://agrospectrumasia.com/news/70/491/pif-announces-vertical-farming-jv-with-us-based-aerofarms.html Thu, 02 Feb 2023 13:03:07 +0530 The first farm, based in Saudi Arabia, will have a capacity for up to 1.1 million kilograms of crops per year. Saudi Arabia’s Public Investment Fund (PIF) has signed an agreement with US-based Aero Farms to form a joint venture which will build and operate vertical farms across the MENA region. The first farm, based in Saudi Arabia, will have a capacity for up to 1.1 million kilograms of crops per year. The venture is the second Saudi-focused AgTech announcement this week, following the news that UAE-based Pure Harvest, which is also a vertical farming enterprise, is to enter into a partnership with the county’s National Agricultural Development Company (NADEC). Majed Al Assaf, head of consumer goods and retail, MENA investments division, PIF, said the venture will help increase regional reliance on locally produced crops.  “PIF is enabling the growth of the food and agriculture sector and localising technology that can benefit private sector industry participants,” he said. AeroFarms AgX, a wholly owned UAE-based subsidiary of Aero Farms, announced the construction of a 54,000 sq. ft indoor farm in Abu Dhabi in 2021. According to the United States Department of Agriculture report published last year, Saudi Arabia is reliant on imports for up to 75 per cent of its food consumption. ]]> https://agrospectrumasia.com/news/70/489/kuwaits-green-life-company-ushers-in-a-new-era-of-agriculture.html https://agrospectrumasia.com/news/70/489/kuwaits-green-life-company-ushers-in-a-new-era-of-agriculture.html Wed, 01 Feb 2023 18:13:30 +0530 This initiative aims to bolster food security by using state-of-the-art technology ‘Aeroponic’ Green Life Company officially launched its innovative smart agriculture project utilising Aeroponic technology for air farming in Kuwait. This initiative aims to bolster food security by producing healthy, high-quality agricultural products with minimal water, using state-of-the-art technology ‘Aeroponic’. This revolutionary approach to agriculture will help to ensure a sustainable food source for the country. The official launch and operation of the project were unveiled during a VIP event, under the patronage of the Swiss ambassador Dr Tiziano Balmelli. The event brought together a diverse group of stakeholders, experts, and individuals invested in agricultural and food security matters, as well as members of the media. The ceremony featured a comprehensive explanation of the unique cultivation method and concluded with an invitation to tour the farm located in Abdali. Adel Al Shamali, Chairman of Green Life Company, stated, "The launch of this project is a testament to Green Life Company's commitment to investing in the future. As local investors, we are always looking for opportunities to drive progress within our society." He emphasises the significance of agriculture in achieving two of the government's key strategic goals outlined in the ‘Kuwait 2035’ vision, which are ensuring food security for the country and diversifying income sources for the future. The project's goal is to not only provide ample amounts of healthy and high-quality agricultural products, but also to do so with minimal water usage and labour, and utilising the most advanced technological methods available. Aeroponic technology, a form of aerobic cultivation developed by CleanGreens Solutions SA in partnership with the Green Life Company, has been specifically adapted to suit the harsh conditions of the Gulf Cooperation Council countries. ]]> https://agrospectrumasia.com/news/70/488/nadec-and-pure-harvest-smart-farms-announce-strategic-partnership.html https://agrospectrumasia.com/news/70/488/nadec-and-pure-harvest-smart-farms-announce-strategic-partnership.html Wed, 01 Feb 2023 17:57:20 +0530 Partners aim to deliver over 27 hectares of production, serving KSA consumers a wide variety of locally and sustainably grown, high-quality, fresh produce year-round Saudi Arabia’s National Agricultural Development Company (Nadec) announced a strategic partnership with Pure Harvest Smart Farms (Pure Harvest), the MEASA region’s leading technology-enabled agribusiness, to deliver a large-scale national food security project in the Kingdom, which aims to deliver over 27 hectares of production near-term – with prospects for significant future expansions on Nadec’s lands – serving KSA consumers a wide variety of locally and sustainably grown, high-quality, fresh produce year-round. Pure Harvest will design, construct and operate high-tech, climate-controlled hybrid food production systems that allow year-round production of high-quality, safe and sustainably-grown fresh fruits and vegetables, free of pesticides, offering Saudi consumers a constant availability of high-quality fresh produce that was never before possible due to the Kingdom’s challenging arid climate.  Nadec will utilise its existing infrastructure, far-reaching distribution network, and trusted consumer brands to deliver its partner’s fresh produce to the market.  This strategic alliance is closely aligned with the Kingdom’s Vision for a more self-sufficient and sustainable food system. This innovative project is the first of many that the partners expect to develop together integrating the full value chain of controlled-environment agriculture (CEA) production.  Pure Harvest seeks to deploy substantial production capacity over the next five years in KSA, farming a wide range of crops, and Nadec will market these products to its expansive consumer base, hotels, restaurants, and catering partners. The partners share a vision to assist in the transition towards greater food security, water conservation, economic diversification, and sustainability in the Kingdom, as well as the broader GCC region.  By originating large-scale, renewable energy-integrated food production infrastructure in KSA, Nadec and Pure Harvest are together making possible local-for-local high-quality, pesticide-residue free, clean, and healthy fresh fruits and vegetables production that, thanks to Pure Harvest’s pioneering production technology, are always in season – proudly serving the Kingdom’s citizens. ]]> https://agrospectrumasia.com/news/70/366/dubai-international-chamber-supports-zimbabwean-agri-company-expand-in-dubai.html https://agrospectrumasia.com/news/70/366/dubai-international-chamber-supports-zimbabwean-agri-company-expand-in-dubai.html Fri, 30 Dec 2022 15:21:15 +0530 This is expected to create more than $150 million of exports to Dubai every year. Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has facilitated the expansion of Nhimbe Fresh Exports, one of Zimbabwe’s largest vegetable and fruit exporters. Based in Zimbabwe, Nhimbe is one of Africa’s premier exporters of blueberries, strawberries, raspberries, and peas. The company predominantly exports to the US and Europe and has recently entered Dubai. It currently exports strawberries to the emirate and is scaling production with the support of the Dubai International Chamber to increase the visibility of its products in the market while also benefiting from Dubai’s strategic location to expand to the Far East market.  “In addition to helping local businesses expand to global markets, Dubai International Chamber also attracts and facilitates foreign direct investment from key markets of strategic importance to Dubai to the emirate. We support companies through every stage of the international expansion journey, connecting them with trusted stakeholders and potential partners that can help them access new markets and scale their operations. We are very pleased to have supported Nhimbe Fresh Exports with their international expansion plans into Dubai and beyond,” said Omar Khan, Executive Director, of International Offices, at Dubai International Chamber. Commenting on this endeavour, Dr Edwin Moyo, Chairman of Nhimbe Fresh Exports said, “We are aggressively talking to Dubai International Chamber to see how we can be present in that market. Our choice of Dubai is based on its popularity, both as a tourist and financial centre and in our view it was befitting to add it to our destination as our food distribution centre, not only for the region but other international destinations. Of particular importance has been the role played by the chamber. Dubai International Chamber has brought strategic partners who will make it easier for Nhimbe to implement this export programme.”  “We anticipate moving 500,000 tons of produce into the UAE market through Dubai, some of which will go into supermarkets, wholesale and others as exports from Dubai to neighbouring countries. This is expected to create more than $150 million of exports to Dubai every year and Dubai itself will earn about $200 million in exports to other international markets. This win-win situation is Nhimbe’s vision of Dubai as a gateway to international markets,” added Dr Moyo. Nhimbe’s business expansion into Dubai supports Dubai’s vision to increase foreign trade from AED1.4 trillion to AED2 trillion between 2021 and 2026. Dubai International Chamber plays an instrumental role in attracting international companies to Dubai and positioning the emirate as a leading business destination for global investors and multinational companies. ]]> https://agrospectrumasia.com/news/70/365/iciec-signs-mou-with-raii-for-cooperation-in-agri-sector.html https://agrospectrumasia.com/news/70/365/iciec-signs-mou-with-raii-for-cooperation-in-agri-sector.html Fri, 30 Dec 2022 14:59:25 +0530 The MoU aims at contributing to achieving food self-sufficiency in Saudi Arabia and ICIEC Member States. The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) signed a Memorandum of Understanding (MoU) with Al-Rajhi International Investment Company (RAII) of Saudi Arabia whereby the two parties would cooperate in synergizing coordination, business development and efficient implementation of projects in the vital agricultural and food security sectors in ICIEC’s Member States. RAII is a subsidiary of Sulaiman Abdulaziz Al-Rajhi Awqaf Holding, which is one of the largest business groups in Saudi Arabia, whose core activities include investments in the agricultural and food security sectors and related fields globally. The MoU was signed by Oussama A. KAISSI, Chief Executive Officer of ICIEC, and Ahmed Ali Aldakheel, Chief Executive Officer of RAII. The MoU aims at contributing to achieving food self-sufficiency in Saudi Arabia and ICIEC Member States in which RAII is already engaged,  through jointly exploring new agri-business opportunities, investments in agricultural and food security projects, enhancing and developing agricultural infrastructure at the advanced SME and rural farming levels, and co-financing and technical consultancy opportunities with ICIEC clients and partners using the Corporation’s risk mitigation and credit enhancement solutions. The MoU also aims to help boost agricultural production by focusing on developing agriculture Technologies and farm management services to maximize productivity. RAII owns the most extensive organic agriculture project in the Kingdom, one of the largest poultry projects in Saudi Arabia and an integrated poultry project in Egypt. Its products are exported to neighbouring GCC markets, Yemen, China, and Vietnam. ICIEC and IsDB Group have a focused approach to the agricultural and food industry in the Member States, 36 of which are net food importers. Total IsDB Group’s financing support for agriculture and food security currently stands at $20.6 billion. Earlier in 2022, the IsDB Group launched a $10.54 billion comprehensive Food Security Response Programme (FSRP) aimed at supporting Member States in addressing the ongoing food crisis and scaling up the Group’s continued efforts to contribute to strengthening its members’ resilience to food security shocks in the future. ICIEC supports this ‘One Group-One Goal’ initiative with an allocation of $500 million in PRI and credit insurance. Oussama KAISSI, CEO of ICIEC, commented: “Agriculture, food sustainability and security are critical sectors for ICIEC. Our mandate includes supporting intra-OIC trade and investment by providing our unique Shariah-compliant credit enhancement tools against commercial and non-commercial risks. ICIEC Member States and significant parts of the world are facing an unprecedented food crisis. Food prices, particularly for cereal grains, have been climbing steadily in the past few years and soared recently in the wake of the Russo-Ukrainian crisis. Climate change is also one of the main factors exacerbating food insecurity through low productivity and crop failures. ]]> https://agrospectrumasia.com/news/70/127/agri-insurtech-startup-ibisa-raises-seed-funding-from-ankur-capital-2.html https://agrospectrumasia.com/news/70/127/agri-insurtech-startup-ibisa-raises-seed-funding-from-ankur-capital-2.html Sat, 10 Sep 2022 12:35:16 +0530 IBISA is scaling its operations in India with operations in Odisha, Karnataka, Telangana for coverage against excess rainfall, excess wind speed and drought.  Agri insurtech startup IBISA announced that Ankur Capital, an India-based leading early-stage venture capital fund focused on transformative technologies in deeptech and climate tech has joined its seed round. Luxembourg-based Insurtech startup IBISA is on a mission to empower the Agri value chain players with innovative weather protection insurance solutions. The company is also in talks with a number of large lenders, food processors, and Agritech clients across different geographies to mitigate their credit risk against default, reduce their supply chain risks and increase their sustainability practices in agriculture and strengthen farmer connection with smallholder farmers in India and abroad. Founded in 2019, IBISA started its operations in India with the DHAN Foundation to provide parametric insurance against drought coverage in Tamil Nadu. Fast forward to now, IBISA is scaling its operations in India with operations in Odisha, Karnataka, Telangana for coverage against excess rainfall, excess wind speed and drought. They have also opened a registered office in Feb 2022 in Bengaluru. Speaking on the investment, Ritu Verma, Partner at Ankur Capital mentioned, “The unavailability of data has hampered the growth of the agricultural insurance industry in developing countries for decades. Legacy crop insurance involved long manual processes making them impractical for developing markets where smallholder farming is the norm, and parametric insurance has historically been unviable due to the lack of detailed climate-related datasets. We are excited to partner with IBISA to transform the scale of available parametric insurance options in countries like India with a vast addressable market.” “Farming is an integral part of both our societal and economic infrastructure. The impact that the war in Ukraine is having on food prices and food security seriously underscores the importance of global agriculture. And yet the support isn’t there. With IBISA, we sought to create technology that would help reduce costs for the active players in the insurance space. Finding a way to responsibly protect farmers in the event of extreme weather, by slashing distribution and operating costs, making it affordable to many groups in the value chain.” said Maria Mateo Iborra, CEO & Co-founder, IBISA. Apart from India, IBISA has its operations in New Zealand, Guatemala, Senegal, Philippines, and other African countries. With strong insurance and reinsurance partnerships across different geographies and tailor-made products for lack of rain, excess rainfall, extreme temperatures, excess wind speed and cyclones, IBISA is able to address the needs of various Agri value chain players. ]]> https://agrospectrumasia.com/news/70/126/ig-fresh-produce-plans-to-invest-rs-100-cr-in-arunachal-pradesh-for-kiwi-cultivation-2.html https://agrospectrumasia.com/news/70/126/ig-fresh-produce-plans-to-invest-rs-100-cr-in-arunachal-pradesh-for-kiwi-cultivation-2.html Sat, 10 Sep 2022 12:33:05 +0530 The project would generate employment for 500 people and boost the production, sale, and export of kiwi and other fruits from the region. Chandigarh-based IG Fresh Produce, a subsidiary of IG International, one of the leading fresh fruit importers, has planned to invest Rs 100 crores in the next five years in Arunachal Pradesh for the cultivation of exotic fruits like Kiwi and stone fruits. The company has engaged in an agreement with the Arunachal Pradesh Agricultural Marketing Board (APAMB) and the farmers of Namshu village in West Kameng district for the aforementioned endeavour. The undertaking within its purview would ensure cultivation, research and development, and post-harvest activities in a phased manner. The project will also generate gainful employment (technical and non-technical) for 500 youths over a period of 5 years in the Agri-Horti Sector in West Kameng District and from the rest of the state. This will not only boost the production of kiwi in the state but also increase the sale and export of kiwi and other fruits from the region. Articulating about the historic agreement, Gautam Jha, President of IG Fresh Produce Private Limited, said, “We at IG Fresh Produce are very confident of creating a natural lab for the cultivation, careful curation, research and development, and post-harvest treatment of the first-grade produce done in the orchid paradise of India.” Speaking about the potential of this investment and trust for Arunachal Pradesh to be the home for superior exotic produce, Tage Taki, Agriculture minister, said, “This is a very big investment, not only in terms of the financial value but also in the context of the trust shown towards Arunachal and its farmers, for which I thank IG Fresh Produce, APAMB and the Invest India team. This project has the potential to make India into an independent nation when it comes to feeding top-notch Kiwis to its fruit-loving population. The state government will provide everything the farmers and IG Fresh Produce need to grow the best and most delicious fruits in our country.” The APAMB is the premier agency of the state government that is exclusively responsible for the marketing of agriculture and allied sector products. The IG Fresh Produce Private Limited is one of the top fresh fruit importers in the country and a major supply chain player in the country. It has developed an efficient supply chain for providing high-quality fresh fruits like apples, kiwis, citrus, pears, blueberries, avocados, stone fruit, grapes, etc. to 27 cities across India. ]]> https://agrospectrumasia.com/news/70/125/basf-starts-new-production-site-in-singapore-to-supply-innovative-crop-protection-solutions-2.html https://agrospectrumasia.com/news/70/125/basf-starts-new-production-site-in-singapore-to-supply-innovative-crop-protection-solutions-2.html Sat, 10 Sep 2022 12:26:42 +0530 The new €40 million site will serve as a hub for the region, and support the needs of over 20 million hectares of farmland in Asia Pacific. BASF inaugurated a new regional production site for its Agricultural Solutions business. The €40 million multipurpose facility has been designed to initially handle six different formulation technologies and will enable BASF to supply crop protection products to farmers across Asia Pacific from a strategic location in the region. The site has initial production capacity of 7,000 kl per year – enough to supply over 20 million hectares of farmland – and employs a staff of over 30 technicians and professionals. The site represents an important investment by BASF in Singapore, which now has four production facilities in the republic. BASF has recently launched several new innovations in the Asia Pacific targeted at helping farmers of key crops – including rice and fruits & vegetables – combat pests and boost yields in a more sustainable manner. These include crop protection products based on the company’s new active ingredients Inscalis®, and Revysol® – patented innovations that help farmers control insects and diseases in crops. Products featuring these two active ingredients – as well as several soon-to-be-launched products from the company’s innovation pipeline – will be produced at the new site. From BASF, the site was inaugurated by Simone Barg, Senior Vice President of Agricultural Solutions Asia Pacific and Dr. Carola Richter, President Asia Pacific (excl. China). They were joined by Ow Kai Onn, Vice President & Head of Chemicals & Materials from the Singapore Economic Development Board (EDB) and Loh Yew Pong, Deputy Director Energy & Chemicals Cluster, Jurong Town Corporation (JTC). Speaking at the inauguration, Kai Onn shared how EDB and other Singapore government agencies are working together with companies like BASF to foster the growth of the agricultural sector for the benefit of both Singapore and the entire region. “EDB is delighted to be at the inauguration of BASF’s new Agricultural Solutions regional production site. Through job roles such as process technicians, engineers, production planners and quality assurance chemists, this facility gives Singaporeans and residents opportunities to participate in the global agri-food value chain and contribute to safe, nutritious and affordable crops in our region. This facility was constructed under a challenging environment in the midst of a global pandemic. Its successful unveiling today reflects Singapore’s commitment to being a stable investment destination, a reliable manufacturing hub for specialty chemicals and a strategic location for companies to build a more responsive and resilient supply chain for their customers in Asia.” ]]> https://agrospectrumasia.com/news/70/124/harvesting-farmer-network-raises-4-mn-from-social-capital.html https://agrospectrumasia.com/news/70/124/harvesting-farmer-network-raises-4-mn-from-social-capital.html Sat, 10 Sep 2022 11:56:56 +0530 Harvesting Farmer Network (HFN), a leading agriculture technology platform in India, has raised $4 million from Social Capital, a Silicon Valley-based technology investment firm managed by Chamath Palihapitiya. This is the first institutional round raised by HFN, which will be used to reach more than 120 million smallholder farmers across India, as well as explore opportunities in India’s rural markets. HFN helps smallholder farmers (defined by the UN as a farmer owning less than 2 hectare of land) in India to increase their income by empowering them with a collective bargaining platform. Through HFN’s platform, farmers are able to buy farm inputs, access financial services such as loans and insurance, as well as sell their crops to national and international customers enabling them to scale and grow their businesses. Founded by Ruchit Garg during COVID-19, HFN was created to reduce the friction between farmers and buyers, initially by enabling them to connect directly on Twitter. Since then, more than $500 million of crops, consisting of over 360 crop varieties, have been listed on HFN’s digital platform from every state across India. These crops have been sold domestically as well as to international markets. A global agricultural powerhouse, India produces more than $275 billion of crops annually. As of August 2022, more than 3.7 million farmers are digitally connected to the HFN platform, witnessing a 2.5X increase in their crop earnings. Recently, many forward-thinking farmers have even launched offline centres known as “HFN Kisan Centres” to help fellow local farmers sell their crops and buy staple inputs such as seeds and fertiliser at affordable prices. Ruchit G Garg, Founder CEO of HFN, said: “At HFN, our goal is to help farmers realise their full potential by reducing the plethora of inefficiencies across the agriculture value chain. Simple and widely-available technologies like WhatsApp and Twitter have allowed us to create massive data-driven farmer co-operatives, which allows farmers to negotiate better rates for farm inputs and more competitive prices for outputs.” Jay Zaveri, Partner at Social Capital, said: “India is one of the bread baskets of the world and we’re excited to partner with HFN to bring a safe, secure, and empowering platform to the more than 120 million smallholder farmers across India. Our goal is to enable Indian households to access high-quality farm produce and for farmers to build a profitable livelihood through HFN.” HFN plans to use the new funding to rapidly expand its footprint across India, and over the next 12 months, it expects to connect farmers in every single one of India’s 708 districts across the country. ]]> https://agrospectrumasia.com/news/70/123/andermatt-group-buys-80-stake-of-croatian-biologicals-major-bioinput.html https://agrospectrumasia.com/news/70/123/andermatt-group-buys-80-stake-of-croatian-biologicals-major-bioinput.html Sat, 10 Sep 2022 11:51:58 +0530 Andermatt Group AG, a Swiss company group specialising in the development of biological solutions based on microorganisms for the control of insect pests and diseases and for biostimulation, has become the majority shareholder (80 per cent stake) in the Croatian company BIOinput d.o.o.Located in Varaždin, Croatia, BIOinput d.o.o. has developed to be a leading supplier of biological plant protection products, biocides, plant stimulants and nutrition specialties in Croatia. Talking about the major business development, Martina Borić, Managing Director, BIOinput, said, “There is a great cultural and entrepreneurial fit between BIOinput and the Andermatt Group. We are proud to be a part of the Andermatt network and look forward to bringing its fast-growing portfolio of biological solutions to our Croatian customers.”The Andermatt Group has been investing over the last decade in a worldwide production and distribution network to strengthen its position in important agricultural markets. “We are excited about the integration of BIOinput in the Andermatt Group which will definitely support our strategy to create a large offer of biologicals for the Croatian customers”, said Daniel Zingg, CEO of Andermatt Group AG.In return for the sales of its majority in BIOinput, Martina Borić will become minority shareholder in the Andermatt Group. It is part of the succession plan of the founders of the Andermatt Group AG to integrate other biocontrol pioneers as shareholders. ]]> https://agrospectrumasia.com/news/70/122/prismatic-view-of-apiculture-profitability.html https://agrospectrumasia.com/news/70/122/prismatic-view-of-apiculture-profitability.html Sat, 10 Sep 2022 11:49:58 +0530 To harness the export potential of honey in line with Prime Minister Narendra Modi’s vision of a ‘Sweet Revolution’ through promotion of beekeeping and allied activities, the Indian government along with honey producing farmers and private companies is taking huge strides forward to enhance honey production and revenue generation. 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. The Indian apiculture market reached a value of Rs 20,480 million in 2021. It is all geared up to reach a benchmark figure of Rs 40,161 million by 2027, with a CAGR of 11.73 per cent during 2022-2027, according to IMARC, a global research company with its headquarters located in Noida. India is a major honey exporting nation. As per the data shared by the Ministry of Commerce & Industry, India exported 74,413 metric tonnes (MT) of natural honey worth Rs 1,221 crore during 2021-22, with the United States taking a major share at 59,262 MT. The United Arab Emirates, Saudi Arabia, Nepal and Morocco were the other top destinations for Indian honey. When it comes to producing and exporting honey, India came in at 8th and 9th, respectively. The main producing hubs for natural honey in the nation are Uttar Pradesh and West Bengal. Policy Impetus for Apiculture Exports of honey have enormous potential, particularly post the COVID-19 pandemic, given the rise in its intake as a potent immune booster and a healthier option than sugar. To further enhance honey production and to make this sector more profitable, last year, the Government of India approved an allocation of Rs 500 crore for the National Beekeeping and Honey Mission (NBHM) for three years (2020-21 to 2022-23). The mission was announced as part of the Atmanirbhar Bharat initiative in February 2021. To harness the export potential of honey in line with Prime Minister Narendra Modi’s vision of a ‘Sweet Revolution’ through promotion of beekeeping and allied activities, the Indian government along with honey producing farmers and private companies is taking huge strides forward to enhance honey production and revenue generation. Keeping in view the importance of beekeeping as part of the Integrated Farming System in the country, the NBHM is promoting holistic growth of the beekeeping industry for income and employment generation for farm and non-farm households. Some of the focus areas include, enhancement of  agriculture/ horticulture production, development of  infrastructural facilities –  including setting up of Integrated Beekeeping Development Centre (IBDC)s/Centre of Excellences (CoEs), honey testing labs, bee disease diagnostic labs, custom hiring centres, Api-therapy centres, nucleus stock, bee breeders, and empowerment of women through beekeeping. Under NBHM, 11 projects totaling Rs 25.60 crore have been approved to increase both knowledge and skill in scientific beekeeping; empower women through beekeeping; and showcase the positive effect that honeybees can have on crop yields and quality. It also seeks to educate farmers about the availability of specialised beekeeping equipment for the manufacture of valuable commodities across the honey value chain. Products such as royal jelly, bee venom, and comb honey, as well as upcoming research into the potential of High Altitude Honey, unique honey production in the Kannauj and Hathrus districts of Uttar Pradesh, and the potential of mustard honey to treat colon cancer in 2020-21 are some of the major sub-elements associated with this project. Elaborating further on the subject, Dr Tanu Sethi, Senior Associate, NITI Aayog stated, “The Sweet Revolution is an ambitious initiative of the Government of India, which is aimed at promoting apiculture, popularly known as ‘beekeeping’, for accelerating the production of quality honey and other related products. Beekeeping is a low investment and highly skilled enterprise model, in which technology application has emerged as a great enabler for socio-economic growth. The demand for good quality honey has grown over the years as it is considered a naturally nutritious product. Other apiculture products such as royal jelly, beeswax, and pollens are also used extensively in different sectors like pharmaceuticals, food, beverage, beauty, and others.” Echoing similar thoughts, Anand Jakkulwar, CEO, Anand Bee Farm Enterprises said, “Recently, the beekeeping sector has attained new heights owing to the Central Government’s initiative ‘Sweet Revolution’. This initiative has attracted many young entrepreneurs to get associated with this business and has resulted in enhancing the production of honey in India. If everything falls into place, India has the potential to become a leading honey producer in the world.” To read more click on https://agrospectrumindia.com/e-magazine ]]> https://agrospectrumasia.com/news/70/121/world-bioprotection-summit-to-unleash-novel-technologies-and-products-on-december-1.html https://agrospectrumasia.com/news/70/121/world-bioprotection-summit-to-unleash-novel-technologies-and-products-on-december-1.html Sat, 10 Sep 2022 11:47:51 +0530 The World BioProtection Forum’s India Chapter and Sharda University are organising the World BioProtection Summit – India (WBS–India) 2022 on December 1 at Sharda University, Greater Noida, India. WBS-India 2022 will bring these solutions to the Indian BioAg/Agritech sectors, with international experts who can help companies in India to expand their networks and achieve their goals. The event will gather Innovators, Academics, Manufacturers, Agronomists, Technical managers, IPM practitioners and End-users in the BioProtection sector, at the highly reputed Sharda University.  This year’s event has two main objectives, ‘Accelerating novel technologies and products for global market’ and ‘Connecting academia and industry, creating synergy for faster advancement of the Bioprotection sector‘. The organisers would welcome presentations from innovative companies, academics and researchers who are involved in innovation, efficiency, and productivity through the commercialisation of innovative solutions and new production systems to the topic of the conference. Exciting exhibition and sponsorship opportunities are also available for companies wanting to showcase their products and technologies, and to demonstrate their imagination, innovation and excellence in the industry. ]]> https://agrospectrumasia.com/news/70/120/dahd-seeks-online-submissions-for-national-gopal-ratna-award-2022.html https://agrospectrumasia.com/news/70/120/dahd-seeks-online-submissions-for-national-gopal-ratna-award-2022.html Sat, 10 Sep 2022 11:42:11 +0530 The Department of Animal Husbandry and Dairying (DAHD), under the Ministry of Fisheries, Animal Husbandry and Dairying has invited applications online for the National Gopal Ratna Awards 2022 through the National Award portal i.e., https://awards.gov.in from August 1, 2022. The closing date for the submission of applications is September 15, 2022.The Department of Animal Husbandry and Dairying is making all efforts for the effective development of the Animal Husbandry and Dairy sector to provide sustainable livelihood to the farmers.The department continues to confer National Gopal Ratna Award during 2022 in the following categories:1)Best Dairy farmer rearing indigenous cattle/buffalo breeds2)Best Artificial Insemination Technician (AIT)3)Best Dairy Cooperative Society/ Milk producer Company/ Dairy Farmer Producer OrganisationThe National Gopal Ratna Award consists of a Certificate of Merit, a memento, and a cash prize in each category. A First Rank fetches a cash prize of Rs 5 lakh, while the second and third rank holders are honored with Rs 3 lakh and Rs 2 lakh cash awards, respectively. ]]> https://agrospectrumasia.com/news/70/119/agri-startups-bag-incentives-for-millets-innovation-challenge.html https://agrospectrumasia.com/news/70/119/agri-startups-bag-incentives-for-millets-innovation-challenge.html Sat, 10 Sep 2022 11:40:19 +0530 The United Nations General Assembly (UNGA) has declared 2023 as the International Year of Millets, with 72 countries supporting India’s proposal at the initiative of Prime Minister Narendra Modi. To commemorate this, the University of Agricultural Sciences, Raichur and NABARD recently held a two-day Millets Conclave in collaboration with the agriculture and allied departments. Issues related to nutritious cereal production and value addition were discussed with the farmers, FPOs, entrepreneurs, Agri startups, investors, exporters, agricultural scientists, NABARD and lead banks and agricultural development departments. On this occasion, the Union Finance Minister Nirmala Sitharaman announced several awards including three first prizes of one crore rupees each as an incentive to Agri Startups participating in the Millets Innovation Challenge, while Narendra Singh Tomar, the Union Minister of Agriculture and Farmers Welfare said, “The time has come to give Millets a respectable place in the plate of food not only in India but across the world. We have to bring forth the importance of nutritious grains to the world”. Promotion of millets not only meets the food requirements, but will also give an opportunity to new startups to bring their products to the world. Which increases employment opportunities, especially women can engage themselves in work from millet production to processing. Today, India is the major producer of millets in the world, with Karnataka being a major contributor. Millet production is beneficial to the farmers. It requires very little water, and can be produced even on rocky land. Under the Millet Innovation Challenge, the Finance Minister bestows Rs one crore each to Agri Startups for their distinctive contribution. Besides, awards of Rs 20 lakh are given to 15 Agri Startups and Rs 10 lakh each to 15 other Agri Startups. She also announced a fund of Rs 25 crore to the University of Agricultural Sciences, Raichur from NABARD for millet research. ]]>