Agrochemicals: Sales in Nicaragua Keep Falling

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.

Monday, July 8, 2019

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.

The losses continue, since for the first six months of the year, the guild estimates that about 90 thousand tons were sold, equivalent to a fall of 13% compared to the 104 thousand tons of fertilizer reported in the first half of 2018.

You may be interested in "Agrochemicals: Imports up to September 2018

Mario Hanon, vice president of Anifoda, explained to Elnuevodiario.com.ni that "... the decrease in sales was strictly because of Nicaragua's socio-political crisis, which began on April 18, 2018."

The political crisis has coincided with the increase in taxes. In this regard Hanon specified that "... In the first semester of 2019, against the first semester of 2017 and 2018, tax reform has hit agriculture harder than Nicaragua's socio-political crisis. Tax reform is hanging agriculture more than the crisis."

According to reports from CentralAmericaData, in the first six months of 2018 the main buyer of insecticides, herbicides and fungicides in Central America was Guatemala with $86 million, followed by Costa Rica with $74 million, Nicaragua with $50 million, Honduras with $49 million, Panama with $47 million and El Salvador with $37 million.

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More on this topic

Agrochemicals: Nicaraguan Market Decreases

February 2020

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.

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%.

Downturn in Agrochemicals Business

September 2018

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.

Crisis Affects Agricultural Logistics

May 2018

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. 

Nicaragua: Good Prospects for Agrochemicals

January 2017

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.

The dynamism of agricultural activity in the country is the main reason behind the good performance of the agrochemical sector. Although official figures for the close of 2016 are not yet known, entrepreneurs estimate that growth was achieved in sales of around 15%.

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