Argentine agchem market increased 9% in 2014

The Argentine agrochemical market increased by 9% to $2,739 million in 2014, according to a report from Buenos Aires newspaper La Nación. The growth was due to the growing resistance to herbicides such as glyphosate. With an additional number of products that potentially could be commercialized and may not have been reported at US$ 300 million, the total sales of agrochemicals in the country could get to up to US$ 3,000 million.

The newspaper also highlighted that glyphosate alone sales have not jumped last year. Some herbicides without glyphosate, such as clethodim and haloxyfop, the revenue have grown by 66% and 67%, respectively. The herbicide 2,4-D sales increased 25% and Paraguat was boosted 41%. All herbicides other than glyphosate sales increased 19% in 2014 to US$ 898 million.

Monsanto became again the leader of the herbicides market in the country with a revenue of US$ 410 million, up 11%. Monsanto replaced Syngenta, now in second place, followed by Dow AgroSciences in the third position.

Another item highlighted by the newspaper was the sales of fungicides also increased 26% to US$ 247 million because of a crop season of strong rains that favored the appearances of diseases. The insecticides market jumped 17% to US$ 400 million.

The new insecticides molecules pushed the market sales at 17% and generated US$ 400 million. On the other hand, sales of seed treatment dropped by 15% to US$ 87 million.

In Argentina, local big players such as the Argentine Association of Cooperatives, Agrofina, Agrosoluciones, and Ryzobacter are highlighted.  Agrofina, an input division of Los Grobo group, had a revenue growth of 56% to US$ 107 million.

A projection of La Nación shows that the number of the first quarter of 2015 would not be good. Based on reports of chambers and associations, the sales can fall 30% at this period. The fall can be attributed to lower profitability and lower grains prices at this season.