 "Meghmani receives EPA nod to use permethrin in agriculture in US")
Meghmani Organics Ltd (MOL), a manufacturer of pigments and agrochemicals, has received amendment in label to its permethrin technical 95.5% registration in the US for agriculture use from the US Environmental Protection Agency (EPA).
Meghmani Organics acquired a permethrin technical 95.5% label registration in 2007 from BASF Sparks Llc to market its pesticide product. Before the new amendment of label for agriculture use, MOL was allowed to sell the product with the EPA recommended usages, viz, indoor non-food areas, outdoors for use as a termicide, use on non-commercial turf & ornamentals (plants), wood treatment, outdoor non-food uses, outside building surfaces and premises, agricultural structures, and treatment of livestock & pet.
With the amendment in label registration, MOL can now use permethrin technical 95.5% in agricultural crops, domestic farm animals, mosquito and other usages.
"With amendment in label registration of permethrin, we will be able to embark on marketing activities to sell our product for agriculture use to major formulators and distributors in the US. This strategy will not only increase our market penetration in the US, but also improve the product's profitability in the longer term," said Ankit Patel, head - agro marketing, Meghmani.
The total market for permethrin technical for agriculture and non-agriculture use in the US is close to 1500 tonnes. US contributed about 11 percent of MOL's agrochemical export sales in the FY ended March 31, 2016. The present market share of Meghmani in permethrin technical market is about 300 tonnes per annum and the company expects to add another 200 tonnes of sales with additions into the label. As a result of amendment in label, Meghmani will earn additional revenue of about Rs 25 crore in FY2016-17 from the US market.
Meghmani Organics acquired a permethrin technical 95.5% label registration in 2007 from BASF Sparks Llc to market its pesticide product. Before the new amendment of label for agriculture use, MOL was allowed to sell the product with the EPA recommended usages, viz, indoor non-food areas, outdoors for use as a termicide, use on non-commercial turf & ornamentals (plants), wood treatment, outdoor non-food uses, outside building surfaces and premises, agricultural structures, and treatment of livestock & pet.
With the amendment in label registration, MOL can now use permethrin technical 95.5% in agricultural crops, domestic farm animals, mosquito and other usages.
"With amendment in label registration of permethrin, we will be able to embark on marketing activities to sell our product for agriculture use to major formulators and distributors in the US. This strategy will not only increase our market penetration in the US, but also improve the product's profitability in the longer term," said Ankit Patel, head - agro marketing, Meghmani.
The total market for permethrin technical for agriculture and non-agriculture use in the US is close to 1500 tonnes. US contributed about 11 percent of MOL's agrochemical export sales in the FY ended March 31, 2016. The present market share of Meghmani in permethrin technical market is about 300 tonnes per annum and the company expects to add another 200 tonnes of sales with additions into the label. As a result of amendment in label, Meghmani will earn additional revenue of about Rs 25 crore in FY2016-17 from the US market.
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