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The agrochemical industry's revenue is expected to grow 6-7 per cent this financial year driven by a revival in global demand and the normalisation of inventories, just as domestic offtake slows following an extended monsoon, a report said on Monday. The report by Crisil Ratings stated that improved farm sentiment globally will drive up export revenue by 8-9 per cent this fiscal but domestic demand will see the perils of excess rainfall causing crop damage, product returns and delayed field readiness. "With realisations stabilising after two years of significant adjustments, the overall growth outlook of 6-7 per cent remains more volume-driven than price-led," Crisil Ratings Senior Director Anuj Sethi said. The revenue of Indian agrochemical industry 6-7 per cent will grow this fiscal, supported by a favourably timed revival in global demand and normalisation of inventories just as domestic offtake slows due to a protracted monsoon that impacted kharif season sales, the report ...
Godrej Industries' Chemicals Business has completed the acquisition of the Food Additives Business of Savannah Surfactants, according to a statement. "As a leading player in Oleochemicals, Surfactants, Specialities and Biotech sectors, this transaction will help the company expand its product offerings to the Food & Beverages Industry globally," the Godrej Group firm said in the statement on Monday. Commenting on the development, Godrej Industries (Chemicals) Executive Director and Chief Executive Officer Vishal Sharma said this acquisition is in line with the company's vision and strategy to grow in a profitable and sustainable manner. "The Savannah business will be part of our Speciality chemicals sector. The addition of this Food Additives Business will expand our speciality offerings and build a larger speciality business going forward," he said. Located in Goa, Savannah Surfactants has a manufacturing capacity of 5,200 MTPA of finished products. Established in 1963, Godrej ..
The Crop Care Federation of India (CCFI) on Thursday urged the government to reject patent evergreening for agrochemicals, arguing that such a move would harm farmers and local manufacturers by creating monopolistic market conditions. The industry body criticised a newly formed government committee examining data protection provisions for agrochemicals, claiming it would unfairly benefit multinational corporations and importers at the expense of domestic producers. CCFI Chairman Deepak Shah, in a statement, said extending patent protections beyond the standard 20-year period would lead to overpricing and reduced accessibility for small and marginal farmers. "The government should protect the interest of domestic manufacturers and farmers," Shah stated. The federation highlighted that between 2010 and 2022, while 62 new pesticide molecules were patented in India, only 27 were commercially launched. Of the remaining 35 products, their patent periods have already expired. Citing a 20
India's agrochemical exports could increase to over Rs 80,000 crore in the next four years provided the industry is facilitated with conducive environment, according to a report by AFCI and EY. A report by Industry body Agro Chem Federation of India (ACFI) and EY titled 'Indian Agrochemical Industry: The Story, the challenges and the aspirations' noted that the exports of agrochemicals stood at Rs 43,223 crore in the 2022-23 fiscal. "India's Agrochemical exports outweigh the domestic consumption of the same. The Indian exports by agrochemical industry have witnessed commendable growth in recent times," said the report which was released at the 7th AGM of ACFI held recently. ACFI said that the government must focus on facilitating a conducive environment which includes streamlining licencing norms and improving infrastructure for storage and sale, incentivise biopesticide production, streamline registration process for new molecules, enter trade agreements with countries with more ..