Hi, NewsWrap for November 11, 2022

11-November-2022: Indian Tea Association, Potato Prices, COP27, 'India Agribusiness Awards 2022', Garuda Aerospace, BIMSTEC

11 November 2022

  • Tea Board Asks for Rs 1000 crore Financial Support for Next 5 Years

    Saurav Pahari told the reporters after the AGM of the Indian Tea Association on Thursday that they have also asked for a subsidy for orthodox tea production which has a strong potential in the export industry. He said tea exports had dropped but are now picking up. "However domestic production has not picked up as expected. India needs to build the brand image of tea and only as a commodity", he added. While addressing the AGM he kept on emphasizing the use of technology and adopting better methods for good quality tea production, while the cost of production must be kept in mind for profitability.

  • Potato Prices Drops by 23 per cent, Soyabean Oil Witnesses 6 per cent Hike

    Prices of the potatoes dropped after traders who were holding on to their stock in expectation of further hike in the prices started offloading them. On the other hand, during the same time soyabean oil has become costlier by 6% as the market players assume that growers will soon roll out the fresh soyabean for the season. If reports are to be believed, traders decided to release their stocks after waiting for some time in anticipation of their prices going up. However, potato prices remained stable post a decent initial jump in the market.  

  • COP27: Gaza Date Farmers Struggle as Bad Weather Damages Their Crops

    According to Adham Al-Basyouni, an agriculture ministry official in Gaza, date production this year is expected to fall to 10,000 tonnes from 16,000 tonnes in the previous two years due to the unusually cold and wet spring. "We had winter-like conditions. We had climate changes that impacted the vitality of pollen grains and flowers and greatly harmed pollination," he explained. While determining how climate change influences individual weather events can be difficult, scientists are increasingly able to say how much more likely such events have become as average global temperatures have risen.

  • National Fisheries Development Board Receives 'India Agribusiness Awards 2022'

    National Fisheries Development Board (NFDB), a vibrant organization in Hyderabad under the Department of Fisheries, Ministry of Fisheries, received the "India Agribusiness Awards 2022" for the best Agribusiness Award. The India International Agro Trade and Technology Fair - 2022 was organised to commemorate the services and support provided to the fisheries sector by playing an important and exemplary role for the stakeholders.

  • Garuda Aerospace Raises $5 mn to Build Advanced Drone Solutions for Armed Forces

    In conjunction with international behemoths from the aerospace and defence industries, Garuda Aerospace will use the funds acquired to concentrate on developing cutting-edge drone solutions for the armed forces. "At a time when other Unicorn start-ups are downsizing, Garuda is hiring because growth is based on profitability, sustainability, and revenues," said Agnishwar Jayaprakash, founder and CEO of Garuda Aerospace. “We are cash positive because of our strong order book of contracts with three years of exclusivity. Our net profit margin is 24%. With a $250 million market cap, Garuda Aerospace is currently the most valuable drone company in India.”

  • Second BIMSTEC Agri Ministers Meeting Stresses on Regional Cooperation for Development in Agriculture

    The meeting was attended by the agriculture ministers of Bhutan, Bangladesh, Nepal, Myanmar, Sri Lanka, and Thailand. During the meeting, Tomar urged the member nations to work together in creating a comprehensive regional strategy to strengthen cooperation for the transformation of agriculture while addressing the meeting via video conference. The minister also urged the member nations to adopt a supportive agricultural food system and a healthy diet for all, citing the significance of millet as a nutrient-dense food and the efforts made by India to promote millet and its products during the International Year of Millets - 2023.

  • CM Shivraj Singh Chouhan Inaugurates the 3-day Mega Agricultural Fair and Exhibition

    Madhya Pradesh Chief Minister Shivraj Singh Chouhan inaugurated the three-day mega agricultural fair and exhibition organized by the Union Ministry of Agriculture and Farmers Welfare, in collaboration with the State government and district administration, at Morena today. Union Minister of Agriculture and Farmers Welfare, Narendra Singh Tomar was also present at the Inaugural ceremony. This event will draw about 35,000 farmers from the Chambal-Gwalior region.

On the news

11 November 2022

That's it for for 11 November 2022
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