−− Perfect time for growth
Jul. 30, 2020
The sale of agrochemicals in Brazil resulted in revenues of US$ 13.7 billion in 2019, 5.8% higher than the previous year, representing a record in the sector.
Brazil's agrochemical market is highly concentrated. In 2019, the total revenues of the top 10 leading companies (which includes multinationals) reached US$11.392 billion, accounting for 83.2% of the whole market sales.
Although the market is dominated by multinationals, there are still a number of dynamic local companies in the Brazilian market. According to a survey conducted by AgroPages , the top 10 local agrochemical companies generated US$ 1.069 billion in sales in 2019, accounting for 7.8% of the whole market.
Nortox, the only local company to appear in the overall ranking list (which includes multinationals), took the top spot in the list of top 10 Brazilian local agrochemical companies. The revenue of Nortox rose by 18% to US$342 million in 2019. The growth was driven by Nortox's launch of its fungicide Mancozeb, in addition to six other pesticide launches in 2019.
Accelerating the registration and commercial release of agrochemicals authorized by the current Brazilian government is positive for the sector, which encourages local companies to register and launch more products. The other two companies which recorded double-digit growth are ALTA and CropChem LTDA. According to CropChem, after obtaining 19 registrations in three years, they see the present as the time to increase sales.
Ourofino Agrociência also mentioned that the company’s growth is a reflex of the start of new products sales. These products were approved after the harvest 2018/2019 and began to generate revenues last year.
Notes to readers: It has been the second year for AgroPages to release these ranking lists of local agrochemical companies in Latin American countries. We aim to present, to readers, the general view of leading local companies in the region’s markets, to help anyone interested in learning more about the competition structure of the industry, as well as to offer information on potential partners in the market to new players.
Companies included in these lists may be partly acquired or controlled by companies from other countries. However, we still consider them as local companies, because according to the Company Law, they continue to be incorporated in the local country. We appreciate very much all individuals and companies who provided us with information, and we welcome comments on these ranking lists from our readers. Please contact: email@example.com
This ranking was initially published in AgroPages '2020 Latin America Focus' magazine. We also published ranking list of Top 10 Local Agrochemical Companies in Argentina, Mexico and Colombia, download the magazine to read more.
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