| | NOVEMBER 20228THE PANORAMAThe enterprises earnings in the agrochemicals landscape for the quarter ended September is most likely to be subdued when compared to that of speciality chemical ones and this is owing to uneven distribution of rains as well as weak off take of volumes during the period.Owing to India government's agriculturefocused initiatives to optimize manufacturing as well as decrease crop loss, the country has emerged as one of the largest agrochemical manufacturers, globally. With total pesticide consumption of sixty-two thousand metric tons last year, the market has reached an estimated value of $7.2 billion & this consumption is based heavily on the weather as well as rainfall patterns and what has led to driving a higher consumption of pesticides is the higher temperatures & moisture that has led to a higher possibility of infestation from pests.While the Indian agrichemical market is dominated by the surge in demand for insecticides as well as fungicides which together account for seventy-five per cent of the total consumption there is a rise in the usage of biopesticides that now accounts for fifteen per cent of the market, as the Indian government focuses more on promoting sustainable agriculture practices.Population explosion has given rise to surge in demand for food and this makes it more necessary for crop output, and that in turn necessitates the higher usage of agrochemicals with an aim to boost crop productivity. While some of the major factors bolstering the market growth are pest infestations as well as crop yields & capacity for acquiring HOW AGROCHEMICALS ARE OPTIMIZING CROP PRODUCTIVITY
< Page 7 | Page 9 >