Kynetec’s predictive intelligence tool, AgMeta, provides a powerful view of current and historic market conditions alongside predictions for the coming year.
But let’s take a moment to look back. In 2022, AgMeta predicted a dip in glyphosate sales, an event many in the sector would not have expected. Glyphosate is a mainstay of the conventional crop protection toolbox; a herbicide used to control in-crop weed infestation, for cleaning seed beds in preparation for planting, as well as desiccating key crops such as OSR.
Many sales portfolios, brand targets and sales quotas include this key herbicide.
Understandably, the next questions raised are:
Why did glyphosate dip?
Will sales recover?
And what else can AgMeta predict that CP sales teams need to know about?
Q: Matt, how did AgMeta predict the glyphosate dip, and what data sources are behind it?
A: In 2022, prices for glyphosate and other crop protection products had skyrocketed as a result of pandemic-related supply chain challenges – everything from factories shutting down to ships that couldn’t get unloaded at US ports, and even a lack of ocean freight containers. Farmers, retailers, and distributors purchased all they could to hedge against further shortages. Going into the 2023 season, manufacturers responded to the shortage with significant additional supply, while rising interest rates increased the need for businesses to move that inventory. This resulted in a “perfect storm” scenario that sent prices tumbling as manufacturers, distributors, and retailers all worked to reduce their inventories.
Q: What are the on-farm factors that have resulted in the reduced market size for glyphosate in 2023?
Q: What is your next big prediction?
A: Glyphosate was not alone on the market rollercoaster this year. There are some definite bright spots looking ahead at 2024, and we see some interesting dynamics in the soybean fungicide market next year that I feel are particularly valuable to stakeholders planning sales, marketing, purchasing, and even supply chain actions for the coming season. One of those segments is soybean fungicide, projected to see a significant increase in US market value in 2024.
We’ve back tested this platform against the last five years of market data, and found our projections to be 98% accurate on acreage alone.
Q: Tell us a little about AgMeta and how sales managers can get hold of it
A: AgMeta is a simple, web-based tool designed primarily for sales teams to improve the accuracy and efficiency of budget allocation, territory and account planning, forecasting, allowing for better in-season agility, and even gauging sales performance across territories in the US. It enables better and more productive conversations with marketing professionals who are looking at similar data provided to them from Kynetec’s FarmTrak and Interlytics platforms.
AgMeta provides a powerful view of current and historic market conditions alongside predictions for the coming year in a format even the least-savvy computer user can navigate easily. Many smaller companies see value in the platform specifically for their marketing professionals as well.