Local demand to prop up crop protection SMEs: CRISIL SME Tracker

Firm domestic demand will prop up the Indian pesticide industry despite a contraction in exports this fiscal, according to CRISIL Research.  

Exports, which account for 55 per cent of the pie, are likely to decline by 3 per cent due to lower demand from key importing nations such as the US, Brazil and France.

However, the domestic-focused industry is expected to grow about 6 per cent, keeping overall growth at 1-2 per cent.

Domestic offtake of herbicides is expected to increase amid labour shortage in a few states. In the insecticides and fungicides segment, an expected increase in kharif crop