Agriculture Market Report 2024 (Global Edition)

To give farmers greater access to finance and greater flexibility in repaying their loans, the U.S. Department of Agriculture announced a significant redesign of its lending programs.  According to a statement, the adjustments include USDA's Farm Service Agency offering longer loan terms that give borrowers more time to make payments or reduced interest-only payments. Furthermore, the Federal Housing Administration (FFA) is reducing the amount of collateral needed and launching a new program that lets troubled borrowers postpone loan payments at a lower interest rate. According to FSA Administrator Zach Ducheneaux, the modifications constitute "some of the most significant changes" to farm loan programs in the previous 40 years and are part of a bigger initiative to consolidate and enhance lending services. 
The USDA's lending programs are heavily relied upon by farmers to finance the acquisition of land, animals, equipment, and even the adoption of climate-smart farming techniques. For new farmers who might not match the requirements for a commercial loan, these loans can be quite important.
 

Source Link: https://www.agriculturedive.com/news/usda-overhauls-farm-loan-programs-accessibility/723706/

As part of its plan to invest in the sustainable economy, Inditex (ITX.MC), the company that owns Zara, has acquired a share in the U.S. sustainable agricultural start-up Galy, according to Oscar Garcia Maceiras, CEO of Inditex (ITX.MC). During the company's annual assembly, Garcia Maceiras informed shareholders, "Today (Jul 10, 2024), we are disclosing that we have entered the capital of Galy, a start-up founded in 2019 in the U.S., which is developing an innovative process to produce cotton in laboratories from plant cells."The parent company of Zara, which has committed to halving emissions across its whole supply chain by 2030, invested in Circ, a second US firm that specializes in textile-to-textile recycling, in 2022 and entered into contracts with recycled fiber suppliers. By the end of the decade, Inditex aims to source 25% of its fibers from so-called next-generation materials and 40% from traditional recycling. These investments should help the company achieve this goal. 

Source Link: https://www.reuters.com/markets/deals/inditex-buys-stake-us-sustainable-agriculture-startup-galy-2024-07-09/

The inventor, Valentyn Frechka, utilized his passion for biochemistry while still in school to develop novel processes for producing cellulose, the main component of paper. He learned that it was feasible to extract fiber from leaves after an unsuccessful trial with straw and grass. Due to the conflict in Ukraine, he moved to Paris after developing a functional prototype, where he and his business partner Alexandre Sobolenko established Releaf Paper. Releaf turns 2.3 tons of dead leaves into one tonne of cellulose by combining mechanical and chemical processes.  Typically, it would take 17 trees to produce the same quantity. In Releaf's procedure, the leaves are stripped of any solid substances, dried, and then formed into pellets. This enables them to maintain a continuous production cycle and retain the raw material throughout the year. The pellets are transformed into a special fiber that serves as the foundation for the paper. Paper is created by pressing and rolling the resulting pulp. According to Releaf Paper, their method uses 15 times less water and produces 78% less CO2 than traditional production. Releaf Paper claims that while regular paper takes 270 days or longer to degrade in the soil, leaf-based paper does so in 30 days. The company sells paper in weights between 70 and 300 g/m², which can be used for a range of applications, including cardboard packaging (corrugated boxes, egg cartons) and packaging paper (bags, e-commerce envelopes, etc.). Customers of the firm, which makes about three million shopping bags per month, include Schneider Electric, L'Oréal, Samsung, LVMH, Logitech, and Google.

Source Link: https://www.euronews.com/green/2024/06/23/european-cities-give-their-dead-leaves-to-this-startup-to-turn-them-into-shopping-bags-and#:~:text=Europe-,European%20cities%20give%20their%20dead%20leaves%20to%20this%20startup%20to,into%20shopping%20bags%20and%20paper&text=The%20paper%20industry%20buys%20more,behind%20Ukrainian%20startup%20Releaf%20Paper.

Coromandel International announced in a filing to the exchange on Monday that it has partnered with NBSS&LUP to enhance soil test based crop nutrition management for farmers in Maharashtra, particularly in the Vidarbha and Marathwada regions. By combining soil test datasets from NBSS&LUP with Coromandel's nutritional management solutions, the collaboration aims to improve soil health and crop productivity. Additionally, this partnership seeks to promote better coordination, facilitate research exchange, and provide support to the farming community

Source Link: https://www.thehindubusinessline.com/economy/agri-business/coromandel-international-and-icar-nbsslup-join-forces-to-improve-soil-health-in-maharashtra/article68299895.ece

The Swiss impact investment firm Blue Earth Capital has provided Rs 133 crore in credit financing to Samunnati, an organization that facilitates the agriculture value chain. With its first loan investment, Blue Earth Capital hopes to support Samunnati in growing its programs that enhance the lives of small farmers around the nation by focusing on climate adaptation, resilience, and mitigation techniques. The money that Samunnati raised in the first quarter of the fiscal year came from Blue Earth, making it the single largest loan tranche. We are appreciative of Blue Earth Capital's assistance. This funding will support our efforts to enhance smallholders' livelihoods through climate and sustainability programs,” according to a statement from Anil Kumar SG, the founder, and CEO of Samunnati. Through external commercial borrowing via Enabling Qapital, Samunnati has already obtained USD 5 million in loan capital for the current fiscal year. It raised a total of USD 155 million in debt and equity funding during the preceding fiscal year. Climate-smart financing methods account for 22% of Samunnati's active lending portfolio at the moment. According to Blue Earth Capital's head of private finance, Amy Wang, the company is "excited about supporting the first mover in agriculture value chain financing in India." 

Source Link: https://economictimes.indiatimes.com/news/economy/agriculture/agri-firm-samunnati-gets-rs-133-crore-debt-funding-from-blue-earth/articleshow/110998217.cms?from=mdr

In an innovative collaboration with snacking giant Kellanova, the owner of East Coast grocery chains Food Lion, Stop & Shop, and Giant Food hopes to advance regenerative agriculture in the wheat used to create Cheez-It crackers. Major players in the food supply chain come together through the collaboration of Ahold Delhaize USA, Kellanova, and Bartlett to promote sustainability from the farm to the grocery store shelf. As suppliers account for around 95% of Ahold Delhaize USA's climate impact, cooperation is essential to the grocery store chain's efforts to cut greenhouse gas emissions. By the end of the decade, Ahold Delhaize wants to reduce emissions associated with agricultural operations by 30%. This summer is when the pilot program's production is scheduled to begin. The project will concentrate on farmers who can assist other growers with the transition and who have previously adopted regenerative agriculture practices. According to a release, the pilot will use Arva Intelligence's CropForce technology platform to assess, report, and verify the practices' climate impact. Future Ahold Delhaize USA environmental initiatives will be informed by the data.

Source Link: https://www.agriculturedive.com/news/ahold-delhaize-kellanova-bartlett-regenerative-wheat-cheez-it-sustainability-food-lion-grocery/719238/

Through the partnership with Agritask, a crop supply intelligence company, Walmart will be able to deliver hyperlocal information on blackberry and cherry crops supplied by specific suppliers, as well as implement remote sensing and data analytics capabilities in various locations in the United States and Mexico. The pilot program is being launched at a time when the grocery industry is looking for further methods to improve supply chain efficiency and respond more quickly to rapidly changing weather patterns that may have an impact on prices and product availability. Particularly, the climate is a significant factor in supply chain interruptions. According to a new analysis by Everstream Analytics, supply networks will be most susceptible to severe weather in 2024. According to estimates from the USDA, agriculture production and harvest account for 30% of food loss. The organization identified unpredictable weather as a major cause of food loss in a report, noting that illness, pests, and weather all have a significant impact on food loss and quality in the food supply chain. 

In the release, Carlyle stated that "it can be tough to deal with challenges in purchasing and planning accuracy in agriculture due to data discrepancies and environmental uncertainties." "The technology from Agritask has the potential to fill critical information gaps that sourcing managers frequently encounter when forecasting yield." The Israeli start-up Agritask marketed its technology as a scalable, "climate-smart" system that leverages 15 years of data into the agricultural supply chain. The Sparkubate program at Walmart Global Tech, which fosters start-up inventions, is working with the pilot. Walmart said in the announcement that it might think about employing Agritask's solutions and insights at scale for a second season, depending on how the pilot goes. Walmart stated that the partnership with Agritask is the latest in a long line of technologically advanced supply chain initiatives the company has worked on. Among these projects are a carbon capture pilot with Rubi Laboratories and a 3-D weaving tech pilot with the fashion brand Unspun. 

Source Link: https://www.grocerydive.com/news/walmart-agriculture-tech-mitigate-climate-change-weather-supply-chain/719308/

On 18 Jun 2024, Ajooni Biotech announced that it has partnered with Avalon Bioenergy, an Indian branch of the US based Avalon Energy Group, to process moringa sustainably in the nation. According to a statement from Ajooni Biotech, this partnership would result in the establishment of processing facilities, including crushing and drying mills, for the processing of moringa seeds and leaves. Under the terms of the collaboration agreement, Ajooni will use the residual oil cake to make animal feed products for further processing, distribution, and export from India, while Avalon will concentrate on extracting oil for selling and further processing.  To process moringa seeds and leaves into oil for Avalon to further process and market, as well as to produce oil cake for animal feed that Ajooni can further process and market to its customers in India or export overseas, Avalon and Ajooni are interested in collaborating as a strategic partner for an agri-processing component of the moringa project." This was stated by Ajooni in an exchange filing. To cultivate moringa oleifera and other oil seed crops across India, Avalon is leasing or buying arable land. Additionally, it is growing moringa oleifera and other oil seed crops by contract farming arrangements with both large and small cooperatives. Ajooni has also indicated interest in working with Avalon on related projects in the US, Africa, Latin America, and other parts of the world. Through this relationship, Avalon and Ajooni are demonstrating their dedication to the sustainable and integrated processing of moringa, producing high-quality products for both domestic and international markets and advancing the cultivation of moringa in India. 

Source Link: https://economictimes.indiatimes.com/industry/healthcare/biotech/ajooni-biotech-ties-up-with-avalon-bioenergy-for-sustainable-moringa-processing/articleshow/111086399.cms?from=mdr

Camlin Fine Sciences Limited announced that its wholly owned subsidiary, Dresen Quimica SAPI De CV in Mexico, has signed a Share Purchase Agreement (SPA) to acquire a 100% stake in Vitafor Invest NV, Belgium, including its subsidiaries and associates. This acquisition will integrate Vitafor’s product range into Camlin Fine Sciences' portfolio, utilizing the existing customer base to market these products. This synergy is anticipated to enhance and expand Vitafor’s product lines among current customers. Additionally, the group plans to leverage Vitafor’s facilities and network to strengthen and expand its presence in the European feed and pet food market, as well as in the African market. The acquisition is expected to be completed by June 11, 2024.

Source Link: https://www.angelone.in/blog/camlin-fine-sciences-subsidiary-acquires-vitafor-group

President Biden's comprehensive government strategy to combat climate change, ensure food security, address environmental justice, and promote a circular economy now includes the newly announced National Strategy for Reducing Food Loss and Waste and Recycling Organics. This initiative, unveiled today by the U.S. Department of Agriculture. The U.S. Food and Drug Administration, and the White House, aims to prevent food loss and waste, boost recycling of food and organic materials to support a circular economy, reduce greenhouse gas,emissions, save money for households and businesses, and create cleaner, healthier communities. The strategy, part of the Biden-Harris Administration's National Approach to Hunger, Nutrition, and Health introduced in September 2022 during the historic White House Conference on Hunger, Nutrition, and Health, outlines specific goals to be pursued by the U.S. government, retailers, and consumers. Agriculture Secretary Tom Vilsack emphasized USDA's commitment to minimizing food loss and waste through various programs and initiatives that engage farmers, producers, communities, and companies. He stated,This National Strategy aims to cut food loss and waste in our country by 50% by 2030, and I commend the efforts of USDA and our government partners to reach this target. Reducing food loss and waste is a shared responsibility, and I hope these federal commitments will inspire action from the private sector and communities nationwide.

Source Link: https://www.fda.gov/news-events/press-announcements/biden-harris-administration-announces-national-strategy-reduce-food-loss-and-waste-and-recycle#:~:text=The%20strategy%20released%20today%20provides,%2C%20reduce%20greenhouse%20gas%20(GHG)

Corteva Agriscience has announced the launch of Resicore REV herbicide, promising superior pre- and post-emergence weed control for corn. This new premix formulation integrates three proven active ingredients, ensuring excellent handling, exceptional flexibility, and enhanced crop safety. Resicore REV will effectively target over 75 of the most challenging broadleaf and grass weeds, aiding farmers in boosting corn yield potential. The enhanced benefits of Resicore REV include powerful weed control, increased flexibility, excellent tank-mix compatibility, and improved crop safety.According to Burke, Resicore REV will not only address maize farmers' immediate weed control challenges but also help them improve long-term field management strategies. Resicore REV herbicide will give farmers peace of mind, knowing they are contributing to the sustainability of their current weed control tools and technologies by providing superior efficacy and the flexibility to integrate into various management programs.

Source Link: https://www.agribusinessglobal.com/agrochemicals/herbicides/corteva-agriscience-launches-resicore-rev-herbicide-for-premier-corn-weed-control/

According to a statement from the ministry, the dashboard aims to further promote sustainability standards in the nation and enhance the transparency of the supply chain for agricultural commodities such as palm oil, coffee, and rubber. It is designed to assist Indonesian exporters in complying with the European Union Deforestation free Regulation (EUDR), which is set to take effect at the end of 2024 and will ban the import of goods linked to deforestation. Jakarta's previous estimates indicate that the EUDR will affect Indonesia's exports of timber, cocoa, coffee, rubber, and palm oil, valued at 6 billion euros means $6.5 billion.

Source Link: https://www.reuters.com/markets/commodities/indonesia-designs-agricultural-commodities-digital-tracker-sustainability-push-2024-06-05/

In collaboration with St Jude, a startup based in Kasaragod, and Herbal Isolates Pvt Ltd of the Synthite group the world's largest producer of green pepper products, an innovative initiative has been launched to tackle the issues faced by pepper farmers due to plant diseases, which often lead to crop loss. This initiative will involve trials of an organic plant immune stimulant on pepper plants, primarily in South India's Kolli Hills, Tamil Nadu. The program aims to reduce pesticide usage on farms, educate farmers on the proper use of organic manure, and enhance the export potential of their produce. By adopting these methods, farmers can benefit from higher prices, improved product quality, and increased marketability.

Source Link: https://www.thehindubusinessline.com/economy/agri-business/herbal-isolates-partners-with-startup-to-enhance-immunity-in-pepper-plants/article68245612.ece

Gujarati dehydrated onions were adding zest to a variety of curries served overseas like never before. Due to soaring international demand, Gujarat achieved a record export of dehydrated white onions over the past four years, marking a 67% increase in the financial year 2023-24. While farmers in Maharashtra were hit hard by the central government's ban on fresh onion exports, Gujarat-based entrepreneurs dealing in dried white onions were seeing their profits soar. According to data from the Agricultural and Processed Food Products Export Development Authority (APEDA), Gujarat exported 83,452 tonnes of dried white onions in 2023-24, compared to 50,052 tonnes in FY 2019-20. The primary importers include the United States, Canada, Mexico, the United Kingdom, Germany, the Netherlands, France, Spain, and various other European and West Asian countries. Exporters reported that the heightened demand boosted average monthly exports from 6,000 tonnes to 8,000 tonnes that year. Key onion farming regions in Gujarat include the districts of Amreli, Bhavnagar, Rajkot, Junagadh, and Gir-Somnath, contributing to the state's annual production of approximately 2.50 lakh tonnes of onions.

Source Link: https://timesofindia.indiatimes.com/city/rajkot/record-breaking-export-of-dehydrated-onions-from-gujarat/articleshow/110780076.cms#:~:text=Gujarat%20exported%2083%2C452%20tons%20of,sent%20overseas%20in%202019%2D20.

US-based SorbiForce has developed fully recyclable battery energy storage devices, minimizing environmental impact and promoting a circular economy. These devices offer a sustainable alternative to lithium-ion batteries by utilizing brine from desalination plants and agricultural by-products like straw instead of fossil fuels. SorbiForce's technology incorporates water, salt, and its proprietary ultra-porous carbon in the development of these batteries. By relying on locally sourced raw materials, which are abundantly available across most of the USA, the company addresses supply chain concerns associated with conventional battery components.

Source Link: https://www.pv-magazine.com/2024/06/04/us-startup-uses-agricultural-waste-to-produce-low-cost-safe-batteries/

Georgia's Minister of Environmental Protection and Agriculture, Otar Shamugia, and the Food and Agriculture Organization of the United Nations (FAO) Representative, Raimund Jehle, have signed a project agreement for EUR 4 million, financed by the Austrian Development Cooperation, aimed at "Inclusive Rural Development and Sustainable Agriculture." The project aims to improve agricultural competitiveness, gender responsiveness, food production, and alleviate rural poverty, with a particular focus on women and youth. The project will target farmers, farmers' associations, rural households, educational institutions, private sector representatives, and family farmers in two pilot municipalities.

Source Link: https://www.fao.org/europe/news/detail/women-and-youth-will-benefit-from-new-project-on-inclusive-rural-development-and-sustainable-agriculture-in-georgia/en

In a ceremony held at the WSIS Forum, which was hosted at the ITU headquarters in Geneva, Switzerland, the prize was given out. Based on the database that ADAFSA and its partners have access to, FIEMIS assists importers and exporters in receiving and monitoring requests, as well as streamlines procedures for imported food products. Food trade is facilitated and the appeal of importing through Abu Dhabi's ports is increased by FIEMIS, which offers a service for releasing imported food shipments before they arrive at the port and has a function for tracking import and export requests. To facilitate the import and export of food products, the system also enables importers and exporters to electronically execute seven ADAFSA functions. In a bid to complete the customs procedures for the food shipment in coordination with the General Administration of Abu Dhabi Customs (Abu Dhabi Customs), the services include registering import companies, registering imported food products, import requests, export certificates, and food destruction certificates, as well as linking them to the customs declaration request.

The honor is a testament to ADAFSA's success in creating digital infrastructure and encouraging the use of technology to further its objectives. Furthermore, it validates the ongoing endeavors to attain excellence and innovations in catering to the community, ensuring food security, and accomplishing food safety. The award is a component of the accomplishments that the ADAFSA has made to fulfill its mission of creating a sector that will grow sustainably in agriculture and food safety while safeguarding the health of plants and animals to improve biosecurity and food security. 

Source Link: https://www.mediaoffice.abudhabi/en/economy/abu-dhabi-agriculture-and-food-safety-authority-wins-world-summit-on-the-information-society-award/