Blockchain tech to bring fin services to TN farmers
Farmers in Tamil Nadu are set to experience the benefits of country’s first blockchain technology-based financial services initiative.
A pilot that is being led by the University of Hyderabad will bring all the stakeholders together to make it easier for the farmers to get access to finance.
Farmers associated with SEEDS NGO and their primary lender Samunnati Financial Services will be partners in the blockchain project.
Synchrony, a consumer financial services company, and the University of Hyderabad have signed an agreement to help fund India’s first blockchain project for providing financial services to farmers in the country.
SIRI to set up integrated millet food processing unit in Telangana
SIRI, an agricultural startup focussed on millets, is setting up an integrated millet food processing unit in Telangana. Coming up at Pothugal in Rajanna Sircilla district, the unit will initially focus on producing millet-based ready-to-eat products
“We will invest ₹15 crore in the unit. To begin with we are setting up four lines of production facility by investing ₹5 crore,” SIRI Director B Shasidhar Rao told BusinessLine. “Work on the construction site has begun. We are expecting the production to begin in 6-8 months.”
ISMA to launch educative portal to boost sugar offtake
Despite being the second-largest producer of sugar in the world after Brazil and the largest consumer, the per capita consumption of sugar in India is still relatively lower as compared to some of the other countries.
According to Sudhanshu Pandey, Secretary, Food & Public Distribution, even while the overall sugar consumption is high in India, the per capita consumption has been largely stagnant at around 19 kg per person for the last couple of years. The average per capita consumption of sugar in some of the other countries is close to 23.5 kg. In fact in some of the developed countries like USA, UK, Germany, France, Singapore, Russia, New Zealand and Australia as also several developing countries like Brazil and Thailand the per capita consumption is as high as 35-50 kg per person.
Kerala Govt announces base price of 16 agricultural produce
Kerala Government, in a first of its kind initiative in the country, has announced a base price of 16 agricultural produce, including vegetables, fruits and tubers.