Agrochemicals Industry In India - Beyond The Grey Skies? CareEdge Analysis

CareEdge Research Report

Despite the near-term challenges, the Indian agrochemicals industry (excluding fertiliser) is envisaged to grow by approximately 7 to 9% in FY25 led by robust domestic demand, import substitution, adoption of the “China+1” policy, India’s low-cost manufacturing advantage, and opportunities arising from off-patent agrochemical products.

After recording a remarkable growth in FY22-FY23 driven by exports, FY24 saw a significant 20.3% YoY decline in exports due to channel destocking and pricing pressure from China’s re-entry into the market.

To address channel destocking, major exporters offered rebates to distributors, resulting in a price reduction and pressure on operating profitability during FY24. Domestic demand also saw a decline of 19.3% due to the lower prices offered by the Chinese counterparts and impact of EL Nino.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.