In 2013, the global pesticide market experienced significant growth and reached a new high

Time:

2014-01-11


According to statistics, in 2013, global sales of agricultural and chemical products increased by 10.1% year-on-year (based on dealer standards), reaching $59.16 billion. Exchange rate changes have played a significant driving role in increasing market share (with the exception of the euro, renminbi, and Australian dollar, the US dollar rose against the vast majority of currencies in the world last year). The vast majority of regional agricultural markets have benefited from the rise in glyphosate prices, especially in the Americas and Asia.

In 2013, global non crop pesticide sales increased by 1.9% year-on-year to $6.495 billion, while crop protection market share increased by 11.2% year-on-year to $52.665 billion. Excluding price factors, including inflation and exchange rate factors, the sales of crop protection markets increased by 9% year-on-year, which is equivalent to 2012.

Europe has always been the world's largest agricultural and chemical product market region. In 2013, the Latin American region surpassed and became an important driving factor for the growth of the global agricultural and chemical market.

Most Asian markets have improved compared to 2012, with sales increasing by 1.3% (14.6%) year-on-year. The growth of the agrochemical market is mainly driven by countries such as China, Indonesia, and India.

expectation

According to Phillips McDougall's prediction, the global agrochemical industry may not be as prosperous as in 2013 in 2014. Due to the abundant crop harvests in 2013, especially corn and soybeans, crop prices may decrease. The prices of cotton and rice are also declining, while wheat and rapeseed are slightly better than other major crops, releasing positive signals in the European market. The farm economy is currently on the rise globally, but the short-term prospects are not yet clear.

Data source: Phillips McDougall