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Pinduoduo steps up R&D spending with eye on agriculture sustainability

Pinduoduo is stepping up its research and development (R&D) spending as it invests in science and technology to make farming more environmentally sustainable.

R&D spending rose 34% in the third quarter from a year earlier to 2.4 billion yuan ($376.0 million), the highest level since IPO, according to the company’s quarterly results announcement.

“We are placing more focus on investments in R&D, away from the previous emphasis on sales and marketing in our first five years,” said Chen Lei, Pinduoduo Chairman and Chief Executive Officer. “We want to leverage our strength in technology to deepen our digital inclusion efforts in agriculture.”

Pinduoduo has been deeply rooted in agriculture since its establishment in 2015. The company has become the largest agriculture platform in China, connecting 16 million farmers to its 867.3 million consumers. Even so, there is still “much more” for the company to do in agriculture, especially with technology, said Chen. “Therefore, we plan to deepen our investment in tech-enabled agricultural solutions, to address critical needs in this sector,” he said.

Pinduoduo’s increase in R&D spending comes as technology takes on an increasingly important role in upgrading productivity and efficiency in the agriculture sector. Globally, farming is undergoing a wave of transformative change as technology automates repetitive and labor-intensive tasks. Technology is also improving the precision of the growing process, cutting excessive use of fertilizer and other inputs that can harm the environment.

One area that Pinduoduo has seen encouraging results in is logistics. Since investing in building out a more responsive, affordable, and sustainable logistical system, the company has seen a reduction in delivery times and food waste and loss. This was achieved through technology solutions like route planning, advanced analytics, and cold-chain optimization, Chen said.

Another area is precision farming. Pinduoduo started an annual Smart Agriculture Competition with the aim of demonstrating the positive impact that precision farming techniques can have on farm output and environmental sustainability. Participants in this year’s competition have to adopt a multidisciplinary approach and apply nutrition science, precision farming, and other horticulture technology to produce tomatoes. Pinduoduo is also making efforts in talent development in the agriculture sector. To enable farmers to sell and grow better, the company is training more growers on how to run e-commerce businesses, as well as encouraging young talent to consider a career in agriculture.

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World

Israel announces creation of global seed company

Two Israeli seed producers, Nirit Seeds and TomaTech, have joined forces to create Israel’s largest vegetable seed company. This synergy will enable unique seed breeding research and development that will accelerate the company’s growth in the international seed markets.

Upon completion of the merger, the company will have more than 80 employees worldwide, including molecular biologists, breeders, agronomists, and others.
The company will improve its breeding activities in Israel, Spain, Mexico and Italy, as well as significantly expand its representation in the Netherlands and North America, with a particular focus on growing vegetables in high-tech greenhouses.

Nirit Seeds is one of the most successful internationally traded tomato and pepper seed producers, investing in the development of revolutionary genetic technologies. TomaTech is one of the leading tomato seed companies in Israel, developing premium varieties, including those resistant to the dangerous Tomato Brown Ruffle Virus (ToBRFV).

The production of crop seeds is one of the most advanced and high-tech sectors in Israel. According to the Seed Department of the Federation of Israel Chambers of Commerce, seed exports currently generate $200 million in annual revenue. There are about 25 large and medium-sized companies in the local industry.

For reference. According to market research, the global vegetable seed industry is valued at $8 billion a year and is growing at a CAGR of 8%.

Prepared according to https://www.freshplaza.com

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World

Karachay-Cherkessia became one of the leaders in the production of greenhouse vegetables at the end of 2021

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Greenhouse vegetable production in 2021 reached a record 1.4 million tonnes. According to the Ministry of Agriculture of the Russian Federation, the leaders among the regions in this segment are the Karachay-Cherkess Republic, Lipetsk, Moscow, Kaluga, Volgograd, Novosibirsk, Saratov, Chelyabinsk regions, Krasnodar and Stavropol Territories, the Republics of Bashkortostan and Tatarstan. These regions account for more than 60% of the total production in the country. The intensive development of greenhouse projects in our country helps to provide Russians with fresh vegetables all year round. Last year, the harvest in winter greenhouses updated the 2020 record – more than 1.4 million tons of products were received. Including the production of cucumbers amounted to at least 830 thousand tons, and tomatoes – 590 thousand tons. It is expected that by 2025 the volume of vegetable production in year-round greenhouses will be at least 1.6 million tons of vegetables.

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World

December: Special Year Overview

In 2022, it will be 22 year since the new millennium started. Can’t believe it? Neither can we, but it is true. Before we go there, it is time to reflect on what has happened this year. Over the next couple of weeks, we will look back at 2021 and we will highlight the most important events that impacted the industry.

New greenhouses, events, even a few shows, technical novelties, and all other relevant news will pass by, offering you something other than Covid to talk about during Christmas and New Years’.

yearoverview

Wish your customers Happy Holidays
This special also offers an opportunity to put your company in the spotlight with a banner in this special box. This banner can be booked until December 24 on our newsletters. For more information, feel free to send an email to: info@hortidaily.com 

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