The Indian crop protection industry is estimated to be $4.25 billion in FY14 and is expected to grow at a CAGR of 12% to reach $7.5 billion by FY19.
With the rising population in India, there has been a shift in the food consumption patterns. Shrinking land and loss of crops due to pests has lead to a critical challenge to ensure food and nutritional security for the future.
Highlighting the same, a report "Ushering in the 2nd Green Revolution- Role of Crop Protection chemicals" was released jointly by FICCI and TATA Strategic Management Group (TSMG) at FICCI on Wednesday.
At one hand, India wastes nearly a whopping 40% part of its total food production in value terms and on the other the agricultural workforce in India is expected to reduce to nearly 50% in 2020's. Therefore, there is an increasing pressure on agro-sector of India to usher in the second green revolution to ensure the future food security of the nation.
Although agricultural yield per hectare has doubled due to increased use of hybrid seeds, fertilizer, crop protection chemical, etc. major challenges to increase our productivity in agro sector still exists. Crop protection chemicals (agrochemicals) will become increasingly important in achieving higher yields and increasing productivity.
As per the report, a significant outcome of the prospective second green revolution would be the focus on crop protection. Around 25% of the global crop output is lost due to attacks by pests, weeds and diseases, which does not augur well for farming.
The Indian crop protection industry is estimated to be $4.25 billion in FY14 and is expected to grow at a CAGR of 12% to reach $7.5 billion by FY19.
Exports currently constitute almost 50% of Indian crop protection industry and are expected to grow at a CAGR of 16% to reach $4.2 billion by FY19, resulting in 60% share in Indian crop protection industry.
The total number of pests attacking major crops has increased significantly from 1940s. For instance, the number of pests which are harmful for crops such as rice has increased from 10 to 17 whereas for wheat have increased from 2 to 19 respectively. This further underscores the importance of agrochemicals use.
The crop protection chemicals industry is expected to grow at a CAGR of 12% between FY14 and FY19 to reach $7.5 billion.
It is critical for both the government and for crop protection chemicals manufacturers to work closely with the farmers to educate them on judicious use of pesticides and new researches and developments. Government should also look at curbing the menace of spurious pesticides on priority basis to ensure higher food production and nutrition security for the nation.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "ficci")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}