Hi, NewsWrap for June 29, 2022

29 June 2022: BiofuelCircle, Sustainable Cultivation, Oilseed Production, Solar, Kharif soybean, Cotton prices, Edible Oil

29 June 2022

Nurture Farm is implementing the AWD sustainable cultivation in AP

Nurture farm is implementing the AWD sustainable cultivation practice for paddy in Andhra Pradesh and Telangana this recent season, on over 200,000 managed acres, enrolling over 70,000 rice farmers into the program, with the promise of over 30% reduction in water usage and 48% reduction in methane emissions, compared to traditional paddy cultivation practices.
Gautam Solar Opens New Warehouse in Greater Noida

Gautam Solar has opened a new warehouse in Greater Noida, in the National Capital Region, to make solar modules more accessible to consumers and solar system integrators. Gautam Solar's new expansion will provide top-quality solar panels with lightning-fast delivery to the entire national capital. Managing Director of Gautam Solar, Gautam Mohanka mentioned
BiofuelCircle raises $0.75 million in second round seed funding

BiofuelCircle, an online marketplace designed for biomass and biofuels, has raised $0.75 million in its second round of seed funding. The funding was co-led by Spectrum Impact, Better Capital, Shridhar Shukla, and others. BiofuelCircle started as a bootstrapped company and has raised $ 1.75 million since its inception.
Edible oil brand Sunpure is on an expansion drive; to invest ₹365 crores in next two years

Sunpure, a leading edible oil brand in the south, plans to invest ₹365 crores in the next two years for expansion. It is also exploring the production of mustard in Rajasthan. It is setting up a ₹250 crore palm refining and biodiesel unit in Mangalore; a ₹100 crore refinery in South Maharashtra and a crushing investment in Karnataka at a cost of ₹15 crores. To set up palm oil and oleochemical units at Mangalore and a refinery in Maharashtra
FBN releases 2022 U.S. Acreage Report for nine key crops

FBN, the global farmer-to-farmer network, and AgTech platform, announced that its 2022 US Acreage Report found that despite some weather-related planting delays in the Northern Plains, increased acreage in Minnesota, Wisconsin, and Ohio likely helped push the corn acreage number to an estimated 90.4 million acres, up from USDA’s March estimate of 89.5. Soybean acres are pegged at 89.0 million acres, off from USDA’s March forecast of 91.0 million, also pegged to weather in the Dakotas.
Cotton prices plunge to 6-month low in global market, further drop seen

Cotton prices have dropped by over 10 percent across the country and over 20 percent globally to a six-month low, but there are no takers for the natural fiber in view of slack demand for yarn and other downstream products. Prabhu Dhamodharan, Indian Texpreneurs Federation Convenor, said “Cotton prices are correcting in forward markets for the upcoming cotton season (October 2022-September 2023).
NDDB to Focus on Increasing Oilseed Production to Achieve Self-Sufficiency

National Dairy Development Board (NDDB) has decided to boost oilseed production across the country in order to achieve self-sufficiency in edible oils. As part of the initiative, the NDDB and the Karnataka Oilseeds Federation (KOF) have signed a Memorandum of Understanding (MoU) with the University of Agricultural Sciences, Bengaluru, and the Indian Institute of Oilseeds Research, Hyderabad, to increase sunflower seed production in Karnataka.
Progressive sowing of Kharif soybean stands at 26% of the previous year's total acreage

Soyabean Processors Association of India (SOPA), sowing of soybean has been done on 26% of the total area that was planted under soybean in the previous year. While the Government is yet to release any acreage data for soybean sowing this Kharif season, SOPA said we have made a preliminary estimate. The area sown as on date is 31.68 lakh hectares.
Govt procures 187.8 lakh tonnes of wheat so far at MSP costing Rs 37,852 Crores

Food Corporation of India (FCI), the nodal agency for procurement and distribution of foodgrains, has purchased 187.86 lakh tonnes of wheat so far at Minimum Support Price (MSP) for Rs 37,852.88 crore. Wheat procurement starts from April."Wheat procurement under the central pool in Rabi Marketing Season 2022-23 is going smoothly. Up to June 26, a quantity of 187.86 lakh tonnes of wheat has been procured, benefiting about 17.85 lakh farmers with an MSP value of Rs 37,852.88 crore.