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Pesticides to undergo immediate price adjustments in Brazil: Sindivegqrcode

Feb. 22, 2021

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Feb. 22, 2021

By Leonardo Gottems, Reporter for AgroPages

The Brazilian National Union of Plant Protection Products Industry (Sindiveg) announced that the prices of pesticides will undergo immediate readjustments and may increase even further.

According to information from Sindiveg, which brings together the largest companies in the agrochemical sector in Brazil, the pesticide industry faces the issue of high prices for raw materials, packaging and international transportation.

“We are concerned about the input distribution chain and farmers in terms of the impact of the rising prices of raw materials, packaging and international and local logistics. Global economic conditions remain largely affected by international restrictions related to Covid-19, and the scarcity of basic assets has caused an increase in the prices of essential raw materials,” Sindiveg said.

Another reason cited by representatives of agrochemical companies is the appreciation of the Chinese currency against the US Dollar driven by China's growth, which reached its highest peak in two years, while the increased cost of raw materials and even packaging, such as cardboard and resins, has placed pressure on the national industry. All of them are already adjusting prices for raising and even for the next harvest.

Regarding logistics, sea freight has doubled in the last three months and continues to increase in the short term. According to Sindiveg, this is mainly due to the insufficient number of containers and ships in the global market, a problem that could reach its peak in the first half of 2021, according to a report by China’s Bai Chuan Info (BAIINFO).

“In this scenario, the cost of maritime exports from Shanghai to Santos Port, for example, reached US$58.631 per nautical mile in January, the highest value among nine ports listed by the Danish DSV. During the same period last year, the rate was the third lowest,” Sindiveg added.

“In order to collaborate with the agribusiness production chain, especially distribution channels, Sindiveg warned about the fact that the prices of pesticides will undergo immediate readjustments and may increase even more to absorb costs, as well as about the effects of the exchange rate, which remains above the projected value from the previous year,” concluded Sindiveg.

Source: AgroNews

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