Company expects a minimum sale volume of 1500 KL, worth INR 410 crore in FY 22-23
The product is estimated to help Best Agrolife Ltd. revenue grow by 40%
Best Agrolife Limited announced that it has received a patent valid for 20years for the first-of-its-kind of three-way insecticidal combination in India that will effectively control the entire sucking pest complex, including whitefly, jassids, aphids, and thrips together in various crops in just one spray alone. The company has applied for a product trademark- RONFEN, and the product will be out in the market with the onset of the next Kharif season.
“We are expecting a minimum sale volume of 1500 KL, worth INR 410 crore of this novel combination in FY 22-23. With its wonderful control on the entire sucking pest complex in one spray alone, we have decided to introduce it in PAN-India on multiple crops with a focus on the North, South, & West regions,” says Mr. Vimal Alawadhi, Managing Director – Best Agrolife Ltd. The insecticidal combination is titled ‘A synergistic insecticidal composition comprising a bioactive amount of Diafenthiuron and Pyriproxyfen’, and the patent covers the composition of Pyriproxyfen, Diafenthiuron, and Dinotefuran in a unique suspension concentrate formulation.
The Indian insecticide market is estimated to reach a whopping INR 292.9 Billion by 2023, at a CAGR of 8.3%. Best Agrolife Ltd., with this patent, now holds a competitive edge over other players in India. A listed agrochemicals company, Best Agrolife Ltd has a turnover of INR 912.74 crore and the company says that “As of March 2021 figures, this product is estimated to help Best Agrolife Ltd. revenue grow by 40%; overall it will contribute around 25% of the total revenue in the coming year.”
“The product was under large scale field trials for the last two years. Due to the prevailing pest scenario and its control on the entire sucking pest complex in various crops in just one spray alone, the product may be in high demand for next year in the market and can generate very high revenue for the company in FY22-23,” adds Mr. Raajan Ailawadhi, Executive Director, Best Agrolife Ltd.
Throwing light on the severity of the pest situation, Mr. Ailawadhi, says, “On a global scale, Sucking pests are one of the most serious threats to agricultural crop productivity, as they cause both quantitative and qualitative losses. These losses are estimated to harm 18–20 per cent of annual crop productivity. Most of the loss happens in the ﬁelds before harvest, and losses have been worst in developing countries. Except for cotton and rice, global agricultural losses due to insect pests have increased significantly in the post-green revolution age..”
With a 90% share of speciality molecules, more than 360+ Formulation Licenses, and above 80+ Licenses for Manufacturing Technicals. Best Agrolife Limited is among the Top 15 Crop Protection Agrochemical companies in India. With an extensive network of more than 2100 distributors and dealers in India, the company is exploring various markets like Africa, Asia, South East Asia & Asia Pacific, EU & US. Also, the company plans to own Subsidiary Companies in the Africa, EU, and USA markets.
Best Agrolife Limited has one of the largest manufacturing capacities, with state of the art manufacturing units. Formulation Manufacturing capacity 30000 + Metric tonnes per annum, Integrated state-of-Art for Technical plant is 7000 + metric tonnes per annum.