Farm sector can grow over 6% in FY25 on good monsoon
The agriculture and allied sectors may register over 6 per cent growth in 2024-25 going by the predictions of a favourable monsoon and the low base of the previous year, NITI Aayog member Ramesh Chand told businessline. “This year (2024-25) will be highly favourable for agriculture, mainly due to two factors. One, the monsoon rainfall…
IBISA’s Heat Stress Solution technology to offer protection to dairy farmers
Insurtech firm IBISA has announced the launch of its latest innovation – the Heat Stress Solution, which utilises advanced climate metrics and satellite technology to provide protection for dairy farmers. By offering compensation for revenue losses incurred due to heat stress, this unique solution serves as a lifeline for dairy farmers across India. Milk yields…
Top 10 milk producing countries in the world – 2024
Explore the 2024 rankings of the Top 10 largest milk producing countries. Uncover the leading Global milk production ranking and discover key players in Milk production by country 2024. Get insights into Major milk producing countries and their contributions to the World largest milk producing country. The top 10 largest milk producing countries in the world are India,…
Lighthouse Funds invests ₹700 crore in Parsons Nutritionals
Private equity fund Lighthouse Funds has invested ₹700 crore in Parsons Nutritionals—a contract manufacturer specializing in packaged foods, beverages, and personal care products. The round saw participation from co-investors of Lighthouse, including the International Finance Corporation (IFC), a member of the World Bank Group, Evolvence India, HDFC AMC’s Fund of Funds, and various family offices. Parsons…
Ajooni Biotech Limited announce contract agreement with NDDB
Ajooni Biotech Limited is pleased to announce a strategic partnership with the esteemed National Dairy Development Board (NDDB) Dairy Services. Through this partnership with NDDB, Ajooni Biotech Limited anticipates fresh orders to the tune of approximately Rs. 2 crore per month for cattle feed and an additional Rs. 2 crore per month for feed supplements….
65-ml Frooti packs, 85-ml packs of flavoured milk-Shrinkflation is back
As input prices, which were benign for a few quarters, turn inflationary, the spectre of shrinking packs looms large within the fast-moving consumer goods (FMCG) segment. This summer has seen the trend make its way back, albeit slowly, and in select categories. Companies have been cautious when reducing pack sizes, describing the move as a…
Wide range, discerning consumer, boom time for Rs 30,000-cr ice-cream industry
As 11-year-old Kyra Arora enters the newly opened ‘ice-cream studio’ near her home in Panchkula, her eyes light up. On offer is a mouthwatering range of bars, lollipop sundaes, popsicles, ice-cream sandwiches, gelatos and mini bites. The unending variety is no vanity enterprise. It’s an indication of a booming ice-cream market and the exponential…
New norms to rein in defaults in AHIDF dairy scheme
The central government has specified measures to disincentivize defaults in the guidelines for the realigned Animal Husbandry Infrastructure Development Fund (AHIDF) Scheme. Interest subvention, which is up to three per cent, will not be provided for defaulters at any point of time for repayment, official sources told Bizz Buzz, adding that the lender is free…
Aavin records increase in sales of dairy products as mercury soars
With the mercury levels soaring in the city for the past two months, Aavin has clocked an increase in its sales of ice cream and buttermilk this summer. Aavin, the popular brand of the Tamil Nadu Cooperative Milk Producers’ Federation, offers a range of dairy products, including ice cream, cookies, ghee, butter, buttermilk and milk sweets. An official said, “We have registered…
Cereals, milk, vegetables turn costlier on month; potato prices zoom
Retail food inflation softened marginally to 8.52% in March, 2024 from 8.66% in previous month due to sequential drop in prices of pulses an edible oils and spices, and a high base. The prices of key items like cereals, milk, meat and vegetables, however, saw a rise on a month-on-month basis. The relevant consumer food…