India Herbicide Market to Propel to Double-Digit Growth in Crop Protection Value
17 August 2011 The Indian pesticide market is one of the fastest growing opportunities on the planet. An emerging middle class and subsequent demand for higher-quality food, especially vegetables, is accelerating the adoption of crop inputs among farmers.
The Indian pesticide market is expected to double in the next five years as crop intensification begins to catch up to more developed agriculture economies. Some estimates by industry professionals project 20% annual growth.
The largest contributor to this growth is the emergence in chemical weeding. Heightened labor costs are making chemical weeding more attractive for small shareholder farmers and commercial farmers alike. Additionally, favorable crop prices are prompting farmers to optimize yields.
Industry sources interviewed here at the FCI Trade Summit in Argentina say herbicide adoption is poised to grow about 40% annually, and companies expect their profits to grow in conjunction with the expanding sector.
Glyphosate isn’t the only cash cow. Paraquat, atrazine, fomesafen and others are experiencing exponential growth.
Read more about opportunities in the Indian agrochemical market in our India Report in the October issue of Farm Chemical International. Also see our cover story in our September issue about Five Herbicides Making a Comeback in the Wake of Glyphosate Resistance.
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