China's crop protection market pegged at $1.5bn by Kline & Co

09 Jul '05

3 min read

Management consulting & market research firm Kline & Company says with a crop area of more than 150 million hectares, a booming economy, and a young, growing population, China has captured the interest of agribusiness suppliers around the world over the last ten years.

Will Resources be Available to Fuel Continued Expansion?

Concurrently, a number of sociopolitical, natural resource, and market-related drivers have affected China's economy and will continue to influence the dynamics of the agribusiness climate in China. A new market study proposed by Kline & Company will analyze these issues.

“Global crop protection players have really focused on China in the last decade,” says Dennis Fugate, industry manager of the Specialty Pesticides practice for Kline's research division.

“Now suppliers need take a closer look because that investment is rapidly taking root in a changing business and cultural environment.”

The Chinese government has also had a hand in stoking the market by encouraging a move away from some highly toxic chemicals used in crop protection. In 2002, 75% of China's pesticide production consisted of outdated chemicals, a number the government wants to cut to 50% by the end of 2005.

“This policy shift will enable newer products to enter the market, which will encourage competition and potential growth for suppliers that are already invested in China, as well as those looking to test the waters,” Fugate says.

More klinegroup News... More Textiles News - United States Of America...