Hi, NewsWrap for September 15, 2023

15-September-2023: FAO Food Price Index Drops in August Analysis, Soybean Crop, CCUB Helped Kaizen, Va-Q-tec Ventured into Cold Chain Business'

15 September 2023

  • FAO Food Price Index Drops in August Analysis

    The Food and Agriculture Organization of the United Nations (FAO) in August, experienced a notable decline in international food commodity prices, particularly in staple foods other than rice and sugar. The FAO Food Price Index, which monitors monthly changes in global prices of traded food items, averaged 121.4 points in August. This represented a 2.1 percent drop from July and a significant 24 percent decrease from its peak in March 2022. The FAO Vegetable Oil Price Index decreased by 3.1 percent in August, partially reversing a sharp 12.1 percent increase in July. This decline was driven by a nearly 8 percent drop in sunflower oil prices due to reduced global import demand and ample supply from major exporters.

  • Soybean Crop Suffers Minor Setback, New Harvest Arrival Delayed by Two Weeks

    The Soybean Processors Association of India (SOPA) has reported that the soybean crop is doing well despite recent widespread rains in most of India's growing regions. While the rain is beneficial, the arrival of this year's soybean crop is expected to be delayed by 10-15 days. However, SOPA does not anticipate significant damage to the crop at this point.SOPA conducted a 10-day survey in Madhya Pradesh, Maharashtra, and Rajasthan and found that about 15% of the total soybean-growing area had experienced moisture stress and some crop damage due to a dry spell of 15 to 20 days. This damage was more likely in areas with light and sandy soil, affecting the normal yield because of small grain size and poor pod formation.

  • 'CCUB Helped Kaizen, Va-Q-tec Ventured into Cold Chain Business': Satish Lakkaraju

    Cold Chain Unbroken (CCUB) is a prime initiative of Satish Lakkaraju, Global Head Air Freight & Pharma, WIZ Freight, who has been passionate and committed to addressing the wastage of food and medicine in India. Today, CCUB has an advisory board constituted of industry experts like shippers, airline experts, and airports. "Many prominent companies like Va-Q-tec and Kaizen began their journey in the temperature-controlled supply chain through CCUB," said Satish Lakkaraju. Therefore, with this year's theme, 'Transforming cold chain for a resilient and sustainable future,' Raveen Pinto, Vice President, Aviation Business, Bengaluru International Airport Ltd., along with Satish Lakkaraju, inaugurated the Cold Chain Unbroken 2023 Thought Leadership Event at Taj Hotel, Bengaluru on September 14, 2023.

  • Unlocking Earth's Secrets: Planet's Satellite Imagery Revolutionary Products

    Enter Planet, a company that's rewriting the rules of remote sensing and revolutionizing how we view our planet. Imagine a fleet of over 200 Earth imaging satellites, orbiting our planet, capturing its entire landmass every second. It might sound like science fiction, but it's the reality that Planet has brought to life. This California-based company boasts the largest satellite fleet in history, and it's not just about quantity; it's about quality and purpose. Planet's mission is to provide transparency and accuracy to businesses, governments, researchers, and journalists. Their arsenal of satellites offers a range of products and services designed to equip organizations with the data necessary to make informed, timely decisions across various sectors.

  • PM Modi Launches Development Projects Valued at Over Rs 50,700 Crores in MP

    Prime Minister Narendra Modi has initiated a transformative wave of development in Bina, Madhya Pradesh, by laying the foundation stone for an array of projects valued at over Rs 50,700 crores. These ambitious projects encompass a Petrochemical Complex at Bina Refinery, a Power and Renewable Energy Manufacturing Zone in Narmadapuram district, two IT parks in Indore, a Mega Industrial Park in Ratlam, and the establishment of six new industrial areas across the state. The Petrochemical Complex at Bina Refinery, to be realized at an estimated cost of about Rs 49,000 crores, is a cornerstone of these initiatives. It is poised to produce approximately 1200 KTPA (Kilo-Tonnes Per Annum) of ethylene and propylene, critical components for various sectors including textiles, packaging, and pharmaceuticals.

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15 September 2023

That's it for for 15 September 2023
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