Indian agrochemical sector eyes recovery with normalising demand
India’s agrochemical exports fell by nearly 22 per cent in FY2024 due to global destocking, Chinese price competition, and weak demand, but a recovery is expected in FY2025. Herbicides led growth with a 20 per cent CAGR and rising export share. The US, Brazil, and Japan remained key markets, with Japan overtaking Brazil as the second-largest herbicide export destination.
India’s agrochemical exports fell by nearly 22 per cent in FY2024 due to global destocking, Chinese price competition, and weak demand, but a recovery is expected in FY2025.
Herbicides led growth with a 20 per cent CAGR and rising export share.
The US, Brazil, and Japan remained key markets, with Japan overtaking Brazil as the second-largest herbicide export destination.
