India’s 2022-23 coffee crop estimates pared to 3.6 lt on excess rain impact
Arabica output seen down 13%, Robusta by 6.5% over initial estimates
In its latest post-monsoon estimate, the Coffee Board has revised downwards the Indian coffee crop size for 2022-23 to 3.6 lakh tonnes(lt), about 8.36 per cent lower than its earlier estimates of 3.93 lt. This is mainly on account of excess monsoon rains impacting the crop in the key regions of Karnataka, the largest coffee producing State. However, the overall output for 2022-23 is likely to be higher than the final estimates of 3.42 lt for 2021-22.
As per the post-monsoon estimates, India’s arabica production is expected to be 1.015 lakh tonnes, about 13 per cent lower than post-blossom estimates of 1.164 lakh tonnes. Similarly, the robusta production is expected to be 6.50 per cent lower at 2.59 lakh tonnes from the earlier projection of 2.77 lakh tonnes.
Google, Japanese firm lead ₹113-cr funding for Cropin
To use the funds to expand Cropin Cloud, its intelligent agri platform
Agtech firm Cropin has raised Rs 113 crore ($14 million) in the latest round of funding from new investors Google and the Japanese conglomerate JSR Corporation, as well as existing investors ABC Impact and Chiratae Ventures.
The company plans to use the funds, raised as part of the D Series, to expand Cropin Cloud, its recently launched intelligent agriculture cloud platform, to cater to the growing demand for digitisation and predictive intelligence in the global agriculture sector.
Cropin Cloud, launched in 2022, is a digital transformation and agriculture platform. Cropin plans to use the funds to further invest in its go-to-market efforts and expand Cropin Cloud’s capabilities, including developing next-generation predictive intelligence solutions through the Cropin AI Labs.
Centre prepares new bylaws for agri credit societies to ‘influence’ Bharat
Amit Shah writes to all States to streamline the PACs by adopting the model bylaws
In a bid to influence the 65 crore rural population through Primary Agricultural Credit Societies (PACS), which have a member base of about 13 crore, the Ministry of Cooperation has asked States to circulate its new model bylaws. While all States have, in principle, agreed to adopt the model bylaws, work is on to ensure new PACS with the new bylaws are in place by March, while existing institutions will carry out the changes in phases.
While the current bylaws limit the operation of PACS to one area, the model bylaws allow them to perform multifarious activities to improve their financial health. Of the about 95,000 PACS in the country, nearly 63,000 are actively engaged in different areas. The Centre also targets raising the number of PACS to 3 lakh in two years.
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