Argentine bio-input market exceeds US$77 million

Posted on 2021-10-09
The biological products market in Argentina has reported a turnover of US$77,793,330, according to Casafe (Chamber of Agricultural Health and Fertilizers), which represents leading companies in the production of technology for crop protection.

In this line, the inoculants represent the highest percentage of the market, with 76.9% of the total turnover. The biological market has more than 20 consolidated companies in Argentina, according to a report sent by Casafe to AgroPages.

Currently, the leading multinational companies are part of this business. In the future, that would ensure the appearance of new products and new technologies, a large volume of investment in the business and more significant research and development.

Casafe represents approximately more than 80% of the Argentine organic market in terms of turnover. Some 75% of the Chamber's members produce alternative biological treatments, a solution that complements very well with chemical products.

In Argentina, the most widely used phytosanitary products in this segment are firstly, inoculants, which are formulated products that keep bacteria alive and active to fix nitrogen from the air in association with the crop; secondly, the bioinsecticides that serve to control insects; and, thirdly, biostimulants.

“Bioproducts are constituted as a biotechnological tool to provide solutions to the sector in the context of good agricultural practices, generating safe and environmentally sustainable food. You can see a large number of producers and technicians who are incorporating this type of tools,” Casafe said in the report.

In this way, they say, biological products continue to grow and position themselves in an increasingly competitive place within the phytosanitary market. So much so that the projection of this market for the coming years is extremely positive, with growth rates of 14% per year globally, according to the agency Markets & Markets.

 


Source: AgroNews
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