The crop protection market moved around US$20 billion in Brazil during the 2022/23 agricultural season
A combination of the strong appreciation of the Brazilian Real against the US Dollar, coinciding with a drop in prices of agricultural commodities has resulted in the jump in growth.
Kynetec's insight shows a growth of 43% compared to the 2021/22 cycle, when it reached some US$14 billion. The surge in pesticide sales this season accompanied a rise in planted area in Brazil, which reached 90 million hectares during the period.
In addition, a decisive contribution to this result was the increasing prices of herbicides, insecticides and fungicides.
What's the scope for next harvest?
Looking toward the 2023/24 harvest, Dias believes that there will likely be a drop in market value, due to defensive prices.
According to specialists in the agricultural market, inventories are high, which could lead to reduced pesticide prices.
In addition, some Brazilian producers are still waiting to purchase their inputs for the 2023/24 cycle.
With thanks to Agropages, original article published August 7 2023 here