The company anticipates capturing an 8 per cent market share, translating to Rs 500 crore in revenue within the first two years.
Specialty agrochemical manufacturer, Best Agrolife Ltd announced that it has received regulatory approval for Nemagen, a new patented insecticide formulation designed to combat resistant pests. The company is gearing up to launch this product in July under the brand name ‘Nemagen’.
Lepidopteran pests, such as borers, have significantly expanded their host range and developed resistance to current insecticides. This resistance has led to substantial crop losses, ranging from 30 to 50 percent. Nemagen aims to address these challenges, providing an effective solution for farmers struggling with these destructive pests. Best Agrolife Ltd has received the 9(3) Formulation Indigenous Manufacture (FIM) registration for an under-patent formulation.
Nemagen, a highly effective broad-spectrum insecticide, is formulated with a unique technical combination of Chlorantraniliprole, Novaluron, and Emamectin Benzoate. This combination offers exceptional control over a wide array of pests, particularly targeting lepidopteran pests such as shoot and fruit borers, and also proving effective against Coleoptera and Diptera pests.
Best Agrolife Ltd estimates the market size for products targeting lepidopteran pests to be approximately Rs 6,300 crore. The company anticipates capturing an 8 percent market share, translating to Rs 500 crore in revenue within the first two years following the launch of its new insecticide, Nemagen. Its versatility allows for application at various stages of crop growth, making it suitable for use on vegetables, field crops, fruit crops, and pulses.
