Thursday, November 26, 2020
Home Environment Domestic Demand to Increase Agrochemical Sector's Revenue Growth

Domestic Demand to Increase Agrochemical Sector’s Revenue Growth

Agrochemical sector's revenue to grow by 12-14 percent

Domestic tailwinds are expected to lift the agrochemical sector’s revenue growth to 12-14 percent, Crisil Ratings said on Tuesday.

According to a Crisil Ratings’ report, revenues of the Rs 47,000 crore agrochemicals sector is expected to grow at a healthy clip of 12-14 percent this fiscal, following a sharp recovery in off-take from the domestic agriculture sector and continuing healthy exports.

Follow NewsGram on Twitter to stay updated about the World news.

“Domestic revenue which accounts for almost half of the sector’s revenues will grow at 10-12 percent this fiscal compared with 6-8 percent last fiscal,” the report said.

“On the other hand, exports, which rose 15 percent last fiscal, are expected to maintain their pace at 13-15 percent this fiscal according to Crisil’s analysis of 33 agrochemicals manufacturers, which account for 90 percent of the sector’s revenue.”

Agrochemical
An increase in average crop productivity could help up Kharif output by 6-7 percent this fiscal. Pixabay

As per the report, about 65 percent of agrochemicals demand is derived from Kharif (summer) season.

“An above-average and well-spread monsoon in the first half of the current fiscal has led to the Kharif sowing area increasing to a 5 fiscal high at 111.6 million hectares,” the report said.

ALSO READ: Low Level Of Body Fat Linked To Lower Risk Of Heart Failure

“That, and an increase in average crop productivity could help up Kharif output by 6-7 percent this fiscal.” (IANS)

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,780FollowersFollow

Most Popular

Most Lungs Recover Well In 3 Months After Covid19: Study

Researchers have revealed that lung tissue of patients who suffered severely from Covid-19 shows good recovery in three months in most cases. The study...

A New Gene Therapy To Offer One-Day Treatment For An Eye Disease

Researchers have developed a new gene therapy approach that offers one-day treatment for an eye disease that leads to a progressive loss of vision...

High Blood Pressure In Elderly Age Is More Linked To Extensive Brain Damage

Researchers have revealed that higher than normal blood pressure (BP) is linked to more extensive brain damage in the elderly, suggesting that it is...

An Exhibition Dedicated To Explore Sikh Heritage, Culture

Revealing vignettes of Sikh heritage founded in its distinctive socio-cultural and visual identity and manifesting a lived faith pictorially, a series of works of...

Outdoor Activities To Explore In Mammoth Lakes Of California

Call it a safety precaution or your chance to finally have some "me time" in the pandemic, solo travel is unquestionably one thing that...

Effective Ways To Reduce Stress And Accomplish Day-To-Day Mental Health

You were possibly trained at a young age about ways to improve your physical health, however, mental health and self-care might have taken a...

Beat The Winter Gloominess By Tweaking Your Home Decor

Winters are truly magical as it brings along the joy of sipping a hot cup of tea, the ease of snuggling in your blanket,...

Reasons To Buy Texas Flag

By Cathy Carter Most Texans tend to get nostalgic and emotional when they plan to Buy Texas Flag because of the sense of patriotism it...

Recent Comments