Brazilian agchem market breaches $8bn
The Brazilian agrochemical market grew by 9% to some $8,000 million in 2011, according to estimates by the national agrochemical industry trade association, the Sindag. The rise was just 4% in Brazilian currency terms to R$13,500 million, while volume sales were 2% higher at around 805,000 tonnes, the Brazilian chemical industry association, the Abiquim, reports. Imports rose by 12% in dollar terms to $3,600 million, while industry investment grew by 8% to $46 million. Anticipated investments are to reach $250 million by 2016. Insecticides were leading growth in the first ten months, rising by 21% ( Agrow No 630, p 14).