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Sunday / December 22. 2024
HomePosts Tagged "Spiromesifen"

Initial estimates suggest a market size of ₹200–₹300 crores for targeted pest management products in high value crops, offering a sustained growth opportunity for Best Agrolife Ltd

Best Agrolife Ltd., one of India’s leading agrochemical manufacturers, has been granted a synergistic patent for its novel ternary pesticide formulation that integrates Spiromesifen, Hexythiazox, and Abamectin. This breakthrough product is specifically designed to address mite infestations in cotton, chilli and tea plantations, a persistent issue that threatens crop productivity and quality. This unique formulation is effective against multiple pests, delivering unparalleled efficacy in combating various mites, as well as sucking pests like whiteflies. These pests are among the most destructive to crops and vegetables including brinjal, okra, and tomato.

Mites pose a severe challenge to tea farmers, leading to crop losses ranging from 17% to 46%. The patented formulation offers a holistic approach to managing mite infestations by targeting mites across ovicidal, nymphal, and adult stages. This multi-action mechanism ensures efficient pest control, contributing to healthier crops and improved yields for high value plantations.

India, the second-largest producer of tea globally and the largest consumer, accounts for 30% of the world’s tea consumption. In 2022, tea cultivation in India spanned approximately 6.19 lakh hectares. The tea segment in India is valued at around ₹20,000 crores annually, and pest management is a critical component of this market. Mites constitute a major challenge for Tea estates.

The new product addresses a critical need, offering farmers a powerful solution to protect their crops in regions where these pests are most prevalent. States Tamil Nadu and Andhra Pradesh, Gujarat, Maharashtra, and Punjab, Assam and West Bengal, are expected to benefit from the introduction of this product.

The new formulation has the potential to cater to a significant share of this market, especially given the increasing demand for specialized crop protection solutions. Initial estimates suggest a market size of ₹200–₹300 crores for targeted pest management products in high value crops, offering a sustained growth opportunity for Best Agrolife Ltd. Initial sale estimates in the first year of introduction are estimated to be around ₹15 to ₹30 crores.

This development underscores Best Agrolife Ltd.’s commitment to innovation and its robust R&D capabilities. By securing this patent, the company has further strengthened its product portfolio addressing a critical pain point for tea, cotton and chilli and brinjal farmers. By combining three potent active ingredients, this formulation provides broad-spectrum control, reducing the necessity for multiple applications. This not only lowers costs for farmers but also promotes sustainable agricultural practices by limiting environmental impact.

The patent is part of Best Agrolife Ltd.’s growing portfolio of specialised crop-specific product portfolio. The company’s leadership in research and development continues to drive advancements that empower farmers and support the agri-industry’s growth.

Initial estimates suggest a market size of

Spiromesifen acts as a very effective insecticide and miticide that controls red spider mite in brinjal, whitefly and mite in cotton

Best Agrolife Limited (BAL) has been granted registration for indigenous manufacturing of Spiromesifen Technical u/s 9 (3) by Central Insecticides Board & Registration Committee in the 436th RC meeting on February 9, 2022. With this BAL becomes the first Indian agrochemical company to manufacture Spiromesifen Technical in India.

Spiromesifen acts as a very effective insecticide and miticide that controls red spider mite in brinjal, whitefly and mite in cotton, European red mite and red spider mite in apple, chili & Okra, yellow mite in chili etc.

While the market for Spiromesifen in North America, Latin America, Europe, Brazil, Spain, and Germany is growing at a moderate rate, there is a huge demand for this in the Asia Pacific and it is growing significantly. As of now, it’s available in one solo formulation – Spiromesifen 22.9 per cent SC in India where the market size is around 400 KL.

Vimal Alawadhi, Managing Director – Best Agrolife Limited said, “Spiromesifen will give leverage to BAL to introduce its patented & innovative formulations as our R&D Team was already working on it to bring its improved formulations in the form of novel combinations where not only efficacy of the product will be more but also its scope and market size will further increase by strategic alliances with leading companies in the domestic and international market. Our novel products will emerge as a very effective solution in the management & control of Mites in various crops like Tea, Vegetables & Fruit crops, etc. ultimately improving the quality & yield of the produce. Rising population and compelling food security, is driving up demand for such advanced molecules like Spiromesifen in the country.”

Spiromesifen acts as a very effective insecticide