China’s crop protection market value at farm level reached CNY 99.1 billion (USD14.3 billion) in harvest year 2020, a 2.2% growth compared with 2019, according to the latest figures released from Kynetec’s CropTrak China annual market quantification
In 2020 the market impact of COVID-19 was minimal due to special measures implemented by the government on agricultural production, transportation and logistics.
Rice remains the largest single crop
In 2020, rice remained the largest single crop, accounting for 22% (CNY ~22.2 billion, USD3.2 billion) of China’s total crop protection market value. The rice crop protection market grew by 1.7% compared to 2019, mainly due to increases in herbicide spend per ha, herbicide price per kg and number of herbicide applications, especially in Southwest China.
Rapid rise in soybean crop protection value
In 2020, soybean increased rapidly in crop protection value (+15% vs 2019), reaching CNY 1,853 million (USD 267 million), mainly driven by soybean planted area, especially in Heilongjiang province, which had 46% of the national planted area. In Heilongjiang, the government mobilized the enthusiasm of farmers for planting soybean through provision of a higher subsidy for soybean than that for corn. Heilongjiang also pushed the mega soybean farm and the rotation between rice/wheat and soybean.
CropTrak is an annual quantification of China’s Crop Protection market at farm level, conducted since 2012. CropTrak measures product consumption by farms in the harvest year, covering 27 provinces and 35 crops, including row and horticulture crops. It provides data for strategic and tactical decision making in the world’s largest farm level market.
CropTrak is based on the consolidated tracking of around 17,000 farmers, combined with a range of methodologies and data sources. Data are integrated into a single database, enabling customized and detailed analysis of market trends of the crop protection market by crop, by province and by AI.