Agriculture

RCF Q4 net dips 23.36%

RCF Q4 net dips 23.36%Rashtriya Chemicals & Fertilizers (RCF) has informed that it has recorded a steep drop of 23.36% in the net profit on standalone basis for the quarter ended March 2009.

The company has reported a net profit of Rs 393 million during the quarter under review as compared to Rs 513 million in the same period last fiscal.

However, company's net sales for same period has witnessed a growth by 43.88% which stood at Rs 19128 million as against Rs 13295 million in the same quarter previous year.

Vintage Results for 2009 revealed by New Zealand Wine Industry

VintageMonday saw the industry confirming that in order to support the wine industry amidst global recession, New Zealand's grape harvest in 2009 has been held at the same level as the year before.

It should be noted that the grapes' volume was 285,000 tonnes, up from earlier forecasts, but in line with 2008's final crop.

An increase in the area of plantings was noticed by 7%; however the production had been kept stable in order to maintain quality and earnings in weaker markets.

Nokia launches Life Tools in Maharashtra

Nokia launches Life Tools in Maharashtra

Leading mobile and equipment manufacture, Nokia, under a revenue-sharing agreement with Maharashtra government, introduced Nokia Life Tools, a special service for agriculture, entertainment and education sector, across the state.

Jain Irrigation secures an order worth Rs 79 crore

Jain IrrigationJain Irrigation Systems, a micro irrigation company and an agriculture conglomerate, has secured an order worth Rs 77.8 crore from the World Bank for an irrigation project in the southern state of Tamil Nadu.

The contract is for supply and installation of drip and sprinkler irrigation systems, which will benefit about 15,000 farmers in the 25 sub-basins, situated in Tamil Nadu.

Further, the company will also remain involved in promoting crop diversification and enhancing farm incomes through value-chain building in specific crops.

Coromandel Fertilisers inks JV pact with Soquimich European Holding

Coromandel Fertilisers LtdCoromandel Fertilisers Ltd., a leading manufacturer of a wide range of fertilisers and pesticides, has signed a Joint Venture agreement on Thursday with Soquimich European Holdings BV, Netherlands, a subsidiary of SQM, Chile.

Under the arrangement, the JV will set up 15000 MT Water Soluble Fertilizers (NPK Grades) plant at Kakinada at a total investment of Rs 10 crore.

A company official stated that both the companies will hold equal share in the JV.

The scrip of the company is presently trading at Rs 182, marginally down compared to its previous close.

Profit sought by Kiwifruit growers

Profit sought by Kiwifruit growersAs per the media reports, profits for kiwifruit growers for last season's crop increased by 11%.

Zespri said that it was committed to deliver profits per tray as a minimum of 65 cents high on the last year however it has managed to deliver an average increase of 75 cents.

For the year ended in March, the company has reported an after tax profit of almost $24 million.

Chief Executive Lain Jager says Zespri generated record profits in its key markets. With record sales of 60 million trays of kiwifruit Europe remains the largest market.

Rice procurement touches new record of 287.70 lakh tonnes

Rice procurement touches new record of 287.70 lakh tonnes The government has surpassed its last year rice procurement record of 284.93 lakh tonnes, by achieving a new record purchase of 287.70 lakh tonnes, with more quantities expected to come via the tariff route from the rice mills. Going by the data compiled by the FCI - Food Corporation of India - rice procurement in the equivalent period of the earlier marketing season stood at 242.26 lakh tonnes.

Jain Irrigation wins order worth Rs 65.10 crore; Stock surges 8%

Jain IrrigationJain Irrigation has informed that it has bagged an order worth Rs 65.10 crore for Balh Valley Medium Irrigation project in Himachal Pradesh.

The company stated in a communiqué that the department of Irrigation and public health has selected the company through Global Competitive bidding.

The project, considered as part of Bhakra Beas Management Board, is likely to benefit 3,000 farmers in the region. The scope of project involves survey, investigation, planning, designing, supply and execution.

The outgoing government lifts ban on trade in wheat futures

WheatIn what can be termed as the most 'politically sensitive' decision taken barely a few hours before the results of the 15th Lok Sabha elections, the outgoing government has lifted the ban on trade in wheat futures. It was in February 2007 that the ban - demanded by the Left parties and RJD leader Lalu Prasad Yadav - was enforced. However, the ban on rice futures would still continue.

Informing the ET about the lifting of the ban on Friday, an official of commodity futures market regulator FMC - Forward Markets Commission - said: "The ban on wheat has been lifted, and now the exchanges need to bring their contracts for the commission's approval."

High wheat procurement this season – figures thus far touch 223 lakh tonnes!

WheatAccording to the most-recent data released by the government, wheat procurement in the ongoing marketing season has thus far touched almost 223 lakh tonnes, as against the same-period year-before figures of 190.69 lakh tonnes. Further, it is being expected that by the end of this week, wheat procurement would likely surpass last year’s record 226.89 lakh tonnes purchase!

Monsoon rains likely to hit southern coast May 26; ‘near normal’ season predicted

Monsoon rains likely to hit southern coast May 26; ‘near normal’ season predictedThe prospects for an early planting of crops like rice, oilseeds and cotton would likely improve, with the India Meteorological Department saying that monsoon rains would expectedly hit the southern coast of India on May 26, five days ahead of the typically-taken June 1 date for the four-month-long monsoon season! However, the actual onset of the rains could be four days prior or subsequent to the predicted date.

Government confirms decline in Sugarcane output by 17 pc

Government confirms decline in Sugarcane output by 17 pcDuring the season in 2008-09, India has produced about 289.23 million tonnes of sugarcane, which is nearly 17 per cent less than the output a year ago, confirmed the Agriculture Ministry.  

If the latest estimates are taken into consideration, then the sugarcane production has been pegged at 289.23 million tonnes.

It should be noted that the output is somewhat less than 290.45 million tonnes arrived at the release of second advance estimates in February 2009.

Biggest fall in food prices since April 2006

Biggest fall in food prices since April 2006Statistics New Zealand latest report says that the food prices dropped down 0.6% with a sharp drop in kiwifruit prices almost by 55%.

In spite of the drop in April the food prices increased by 7.6% for the year to April 2009.

In the month of April fruit and vegetable dropped by 2%, grocery food fell by 0.4%, meat, poultry and fish decreased by 0.8%.

Non-alcoholic drinks dropped by approximately 1% during the month.

Restaurant meals and ready-to eat food increased by 0.4% and was the only subgroup to increase.

Government posts third advance estimate of crops production

crops production The government's third advance estimate of production of grain crops for the year ending June, posted on its official website on Tuesday, has been revised upwards by 0.9 percent to 229.85 million tonnes from the earlier 227.88 million tones estimates in February.

While the production of wheat has been anticipated a wee bit lower than the 77.78 million tonnes February estimates to 77.63 million tones; rice production has been revised to up from 98.89 million tonnes to 99.37 million tones.

PNB to setup ‘Farmers’ Training Centre’ in Orissa

PNB to setup ‘Farmers’ Training Centre’ in OrissaPunjab National Bank (PNB), one of the 500 largest banks in the world, has proposed to set up a Farmers' Training Centre (FTC) in south Orissa's Ganjam district.

In addition, after considering PNB's plan, the Orissa government has also agreed to provide 7 acres of land to the lender near Karapalli under Rangeilunda block, about 20 km from here for the proposed centre.

Aries Agro inks MoU with MCX

Aries Agro inks MoU with MCXMumbai-headquartered Aries Agro Ltd has informed that it has entered into an agreement with Multi Commodity Exchange of India Ltd (MCX).

Under the MoU, Aries Agro will utilize the network of Gramin Suvidha Kendra (GSK) - a joint initiative of India Post and MCX - for promoting its products and supporting the sales initiatives.

This deal will provide Aries Agro an immediate access to 160 Branch Post offices serving 768 Villages in 5 States of Maharashtra, Madhya Pradesh, Uttar Pradesh, Gujarat and Karnataka, which are currently part of the GSK Network.

Punjab sets new record of wheat procurement

Punjab sets new record of wheat procurementPunjab, the food bowl of the country, has scaled new milestone in wheat procurement with the government and private millers procured 105.37 lakh MT of wheat during the ongoing Rabi Marketing season.

State agencies have procured 10288698 tonnes of wheat till date while private mills procured 18423 tonnes. PUNGRAIN, PUNSUP and MARKFED procured 1602488 MT, 2378487 MT and 2233594 MT of wheat across the grain markets of the state.

Survey shows; more farmers getting pessimist

Survey shows; more farmers getting pessimistNew Zealand farmers are quite concerned over commodity prices and global market issues and many of them hold a viewpoint that the agricultural economy would worsen in the next 12 months. A new survey has put forward that there has been a 4% increase to 33% in those who think agricultural economy would worsen in the next 12 months, up from 29% at the last survey.

An increased volatility is being anticipated by farmers according to the latest quarterly Rabobank Rural Confidence Survey, with the number expecting conditions to remain stable declining to 38% from 44% previously.

Wheat procurement up by 51 lakh tonnes; FCI estimating 244 lakh tonnes total procurement

Food Corporation of India Marking a 51 lakh tonnes year-on-year increase in wheat production till last week, the Food Corporation of India (FCI) and other state agencies procured 193.45 lakh tones, as against the 142 lakh tonnes during the year-before rabi marketing season.

The procurement of wheat by FCI started from mid-March this year, and will continue till June. The corporation is looking at an estimated total procurement of 244 lakh tonnes in the 2009-10 season; thereby surpassing the earlier year record figures of 226.89 lakh tonnes.

Godrej Industries sells its ‘Pesticide Biz’ to Denmark-based firm

Godrej IndustriesThe Godrej group has exited the pest control service business by selling its entire shareholding in Godrej HiCare to ISS a leading Denmark-based facility services company at a consideration of around Rs 100 crore.

Godrej group flagship, Godrej Industries, had a controlling stake of about 80% in Godrej HiCare, while the balance 20% being held by individuals like A Mahendran, director, Godrej HiCare.




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