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IN BRIEF - AIC to Venture into Insurance Products for Livestock, Aquaculture & Sericulture

Monday, May 29, 2023

Agriculture Insurance Company of India (AIC) is set to expand its offerings with the introduction of insurance products for the livestock, aquaculture, and sericulture sectors. The company has already obtained the necessary license from the Insurance Regulatory and Development Authority of India (IRDAI), according to a statement made by a top AIC official on Wednesday.

Girija Subramanian, the CMD of AIC, revealed that the company secured the license for these new insurance products from IRDAI in May of the previous year. She further stated that AIC will launch the products after their development process is complete. Speaking to reporters at an ASSOCHAM event, she emphasized AIC's commitment to expanding its services and supporting various sectors within the agricultural industry.

Established in 2000, AIC boasts a capital base of Rs 200 crore. The capital is contributed by GIC Re at 35 percent, Nabard at 35 percent, and the remaining percentage by the four public general insurers, namely National Insurance, United India Insurance, New India Assurance, and Oriental Insurance.

Source: Krishi Jagran

[email protected]

IN BRIEF - EU approves WTO agreement on fisheries subsidies

Friday, May 26, 2023

(BRUSSELS) - The EU approved Thursday the conclusion of a World Trade Organization protocol establishing a fisheries subsidies agreement, the first WTO agreement that focuses on environmental sustainability.

The WTO Agreement on Fisheries Subsidies is in line with the UN Sustainable Development Goal 14.6 (UN SDG) and includes:

  • a strong prohibition of subsidies contributing to illegal, unregulated and unreported (IUU) fishing with unprecedented transparency provisions.
  • an absolute prohibition of subsidies for fishing on the unregulated high seas.
  • a provision on overfished stocks will bring sustainability rules for subsidies regarding the most vulnerable stocks in the first phase of the agreement.

Consensus was reached on the Agreement on Fisheries Subsidies at the 12th WTO Ministerial Conference in June 2022. The Agreement on Fisheries Subsidies will enter into force once two-thirds of WTO members have completed their domestic ratification processes.

IN BRIEF - Satlink awarded in Europe for its contribution to the sustainability of the fishing activity

Friday, May 26, 2023

  • The European Union Chamber of Technology recognizes Satlinkv's smart buoy as the "Best European Technology for Ocean Care"
  • In the award ceremony, Pierre Nadji, Head of Aid and Cooperation of the European Commission (EC), highlighted the contribution of "very specific technologies to the resolution of notable problems".

Madrid - The European Union Chamber of Technology (European Technology Chamber) has recognized as "Best Technology of the European Union for the Care of the Oceans" the intelligent selective buoy of the Spanish company Satlink, specially designed to increase selectivity in the fishing activity. This recognition took place yesterday at the delivery of the SDG Awards 2023.

The award, given to Faustino Velasco, president and founder of Satlink, recognizes the contribution of the Spanish company's technology to the achievement of the Sustainable Development Goal (SDG) 14 1 , promoted by the UN. During the delivery ceremony award, Pierre Nadji, head of Aid and Cooperation of the European Commission (EC), has pointed out that "very specific technologies can solve notable problems and guarantee the future and the achievement of the SDGs". Likewise, he has underlined the Commission's interest in supporting any investment in line with the SDGs to ensure sustainable and intelligent development. The European Union Chamber of Technology recognizes Satlink's smart buoy as the "Best European Technology for the Care of the Oceans".

IN BRIEF - Asia's largest food trade fair, THAIFEX – Anuga Asia 2023, launched

Friday, May 26, 2023

THAIFEX – Anuga Asia 2023, Asia’s largest and most important food trade fair officially launched Yesterday with a grand opening ceremony at Impact Muang Thong Thani in Bangkok, Thailand.

Hosted by organizers the Department of International Trade Promotion (DITP), the Thai Chamber of Commerce (TCC)and Koelnmesse, the official openingevent was attended by Deputy PrimeMinister and Minister of Commerce, Mr. Jurin Laksanawisit, industry leaders, globalexhibitors, international VIP guests and global media.

With an impressive lineup of exhibitorsfrom more than 40 countries, THAIFEX - Anuga Asia 2023 solidifies its position as the leading platform for F&B professionals. Besides Thailand, the top five exhibition international countries are China, South Korea, Malaysia, Vietnam and Türkiye. Spanning across 130,000 square meters of exhibition space, featuring 11 exhibition halls, this expansive event is expected to attract over 60,000 trade visitors, buyers, and decision-makers from 140 countries under one roof.

THAIFEX- Anuga Asia serves as a catalyst for international exhibitors, brands, and products to unlock new business prospects in Southeast Asia, facilitating valuable opportunities with buyers and fostering lucrative partnerships in the region.

IN BRIEF - Kibun Foods halves operating profit despite price hike

Friday, May 26, 2023

Fiscal year ending March 2023 Unable to absorb high costs

Kibun Shokuhin Co., Ltd. (Chuo-ku, Tokyo, President Hiroshi Tsutsumi), the largest dough manufacturer, posted consolidated sales for the fiscal year ending March 2023 of 105,691 million yen, up 6.5% year-on-year.

Operating income fell by 46.9% to 2,022 million yen, which was hit by the high school. Although profit increased by 2,769 million yen due to product price revision, total profit decreased by 4,337 million yen due to rising raw material and energy prices.


Other Media | La Voz de Galicia: The EU ratifies the WTO agreement to end harmful subsidies for fishing

Friday, May 26, 2023

The European Union ratified yesterday the international agreement for the elimination of harmful subsidies to fishing that was approved in June 2022 at the 12th Ministerial Conference of the World Trade Organization (WTO). Specifically, the pact prohibits subsidies to those vessels and operators that practice illegal, unreported and not subject to international regulations (UU) fishing, in addition to suspending aid to the fishing of species that are overexploited. .

Source: La Voz de Galicia | Read the full article here

Other Media | Industrias Pesqueras: 930 artisanal giant squid and mahi-mahi vessels will operate legally in Peruvian waters after their registration

Friday, May 26, 2023

In addition to the industrial anchovy fishery, Peru is home to two artisanal fisheries of global importance: the mahi-mahi, which produces around 43% of the world volume of the resource; and that of giant squid, responsible for 47% of the world landings of the species, collects Sustainable Fisheries Partnership (SFP). However, despite their high level of landings and their contribution to the country's food security and economy, the fleets that capture these resources have been neglected in terms of their fisheries management.

Source: IndustriasPesqueras | Read the full article here

Other Media | FishFarmer: Seafood Norway brands new tax plan ‘disappointing’

Friday, May 26, 2023

Employers’ organisation Seafood Norway has described the latest version of the country’s proposed salmon tax as “disappointing”.

The Labour-Centre party coalition government secured a deal yesterday after the Liberals (Venstre) and the single seat Patient Focus party broke ranks with the main opposition parties and gave their approval to a reduced rate of 25%. The minority parties also secured a number of environmental concessions.

Author: Vince McDonagh | FishFarmer | read the full article here

Other Media | SeafoodSource: Chinese seafood market rebounding amid uneven post-Covid boom

Friday, May 26, 2023

The opening in late April of a large sea leisure facility on the island of Hainan could be a sign China’s seafood market is rebounding.

The state-owned China Railway Construction Group built the Yazhou Central Fishing Port, what some have termed Hainan’s “largest sea leisure center.” The facility includes a 29,647-square-meter seafood trading center with a hotel, a shopping street, and restaurants featuring fresh seafood in the popular tourist city of Sanya.

Author: Mark Godfrey | SeafoodSource | read the full article here

Other Media | FishFocus: Alert over Pacific pink salmon in Irish rivers

Friday, May 26, 2023

Inland Fisheries Ireland is urging anglers, and the general public, to report sightings of Pacific pink salmon in Irish rivers over the coming months.

In 2017, 2019 and 2021 this non-native fish species unexpectedly appeared in unprecedented numbers in multiple river systems in the southwest, west and northwest of Ireland.

As Pacific pink salmon predominantly have a two-year lifecycle, there is potential for the species to reappear in Irish rivers again this year and every second, so called ‘odd’, year thereafter.

Source: FishFocus | read the full article here

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