Brazil agchem runaway market growth slows
The latest Brazilian agrochemical sales estimates show a 36% rise for the first eight months of 2008 compared with last year to R$6,476.2 million ($3,502.9 million), according to the Brazilian agrochemical trade association, the Sindag. The market was 40% up after seven months ( Agrow No 551, p 18). The rise has been most pronounced in pesticides for use on soybeans, maize, beans, wheat, rice, horticultural crops and citrus fruit, Sindag market information chief Ivan Amâncio Sampaio told Agrow. The largest rise was in herbicides, up 45% to R$2,914 million ($1,576.2 million), while fungicides rose by 37% and insecticides by 27%. Sales of each major segment rose for use on soybeans and maize, with forward sales for the crops. Maize herbicide sales soared. Growth was less marked (22%) in August than in previous months, Mr Sampaio adds.