Agrochemicals: Nicaraguan Market Decreases

Because fertilizers became more expensive due to the tax reform implemented last year, for the 2019-2020 agricultural cycle the volume demanded in the country fell by approximately 220,000 quintals.

Monday, February 24, 2020

Distributors in the country estimate that with the Tax Concentration Law approved at the end of February 2019, fertilizer prices increased up to 17% and agrochemicals between 20% and 30%.

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Mario Hanon, vice president of the Nicaraguan Association of Formulators and Distributors of Agrochemicals (Anifoda), told that "... The main reason why sales fell was because of the tax reform, the reform was approved in February and the agricultural cycle starts between April and May, so the reform affected the whole cycle."

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Hanon added that it is estimated that on average there was "... an 11% drop in sales of agrochemicals and 5% in fertilizers. It is important to point out that since the reform affected agrochemicals more, the drop in sales was greater than in fertilizers."

Unlike the volume traded, sales did not report significant variations between 2018 and 2019, since according to the sector's union in both years the income generated was close to $220 million.

CentralAmericaData reports that from January to June 2019 the main buyer of insecticides, herbicides and fungicides in Central America was Guatemala with $80 million, followed by Costa Rica with $73 million, Honduras with $50 million, Panama with $47 million, El Salvador with $34 million and Nicaragua with $30 million.

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Agrochemicals: Sales in Nicaragua Keep Falling

July 2019

Between the first semester of 2018 and the same period of 2019, the volume sold of fertilizers and agrochemicals fell by 13%, a decrease explained by the political crisis reported since April last year.

Figures estimated by the Association of Formulators and Distributors of Agrochemicals (Anifoda), specify that this is the second year that decreases in sales are reported, because between the first half of 2017 and the same period of 2018, the volume of fertilizer sold fell by 5%, falling from 110 thousand tons to 104 thousand tons.

Downturn in Agrochemicals Business

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In Nicaragua, a decrease in the amount of cultivated land and a decrease in fertilization spending have caused a fall of between 25% and 30% in the sales projected by entrepreneurs in the sector.

According to figures from the Central Bank of Nicaragua, between the first half of 2017 and the same period in 2018, imports of fertilizers and agrochemicals in the country reported a reduction of 14%, falling from $102 million to $88 million.

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Although businessmen in the sector claim to have enough supplies to meet demand in the agricultural cycle, the crisis in Nicaragua is causing problems in the transportation of goods.

Distributors of agrochemicals report that due to the political crisis and the multiple closures and demonstrations on roads in the country, the main challenge they face is the transporting products to different areas of the country. 

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It has been estimated that in 2017 the sector producing and selling agricultural chemicals will achieve a performance similar to that of 2016, having ended the year with growth of 15% in sales.

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