New Delhi (Delhi) [India], October 12 (ANI/NewsVoir): Best Agrolife Limited, a leading agrochemical company headquartered in Delhi and one of India's largest manufacturers of agro-inputs has been ranked 15th among top 20 Agrochemical companies in India.
The ranking has been released by AgroPages which is a prominent online media platform for the agrochemical industry devoted exclusively to the global agricultural business. Best Agrolife Ltd. registered 22% growth in revenue, FY 2020-21 proved to be a significant year for the company. The visionary agrochemical company took progressive steps towards upgrading the portfolio from old generics to patented combinations and recently off-patented molecules.
Best Agrolife Ltd. is preparing to increase its formulation plant capacity to 50,000 MTPA, which will be significantly higher from its present capacity. Considering its international footprints, the company is actively exploring various markets such as Africa, Asia, South East Asia and the Asia Pacific, European Union (EU) and the US and plans to own subsidiary companies in the Africa, EU, and the US markets. The company also plans to expand in technical manufacturing owing to the disruptive supply chain from China and consistent unmet demand of the agrochemical market. With its R&D leverage, Best Agro is also working on a novel IP formulation which is under field trials that will help in creating more value for the farmers in fighting the major diseases on staple and F&V crops.
India's agrochemical industry is expected to grow 8-10 per cent by 2025, according to data by the Federation of Indian Chambers of Commerce & Industry (FICCI). Presently, India is the fourth-largest producer of agrochemicals after the US, Japan, and China. Its key segments include insecticides, fungicides, herbicides, bio-pesticides, and others. Agropages provides insightful industry information, deep market analyses, product searches, professional database, market reports, and personalized online marketing solutions for brand establishment.
Elaborating upon this recognition, Vimal Alawadhi, Managing Director, Best Agrolife Ltd. said, "In FY20, India's market was valued at Rs. 40,000 crore, with domestic consumption being Rs. 20,000 crores. It feels great to be recognized as a prominent player in a market of this potential. The agrochemical sector is highly impacted by the domestic agriculture sector and exports. Therefore, our significant efforts have always been dedicated to catering our end-buyers' needs at priority. The end buyer of our products is farmers, our product workshops, seminars and awareness sessions are streamlined to make the farmers fully aware and aim for the betterment of their crops."
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