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Monsoon won't impact India's agrochemical sales
Jul. 7, 2014
A weak monsoon will not impact the sale of India's crop protection chemicals, says Crisil Ratings. Analysing the prospects of the agrochemical industry in its latest report, the ratings major expects pesticide sales to be resilient in the current fiscal. In 2010, despite a weaker than expected rainfall, agrochemical sales grew 7%, the report says.
Geographical diversification, large and integrated scale of operations, a healthy product portfolio marked by strong molecules and a strong brand recall have all helped companies in this space post healthy growth. According to Crisil, the agrochemicals industry will be among the fastest growing sectors in the next five years next only to auto components and commercial vehicles industry. It expects the industry’s revenues to grow 12-13 per cent annually during the 2014-19 period.
Given the need to feed growing population with limited arable land, prevention of crop losses will be key to bridge the demand-supply gap in foodgrains, which augurs well for the industry.
While the report is optimistic about the industry’s growth prospects, it also highlights the need for agrochemical makers to ensure efficient management of working capital.
Source: The Hindu Business Line
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