Downturn in Agrochemicals Business

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.

Friday, September 7, 2018

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.

For his part, Mario Hannon, member of the Nicaraguan Association of Formulators and Distributors of Agrochemicals, explained to that " ...'From April 1 to date in the fertilizer and agrochemical industry, sales are estimated between 25% and 30% less than our projections.  The cycle begins in May, but in April it begins to rise strongly because agroservices start to be supplied. April is a supply month, waiting for the arrival of winter."

See also "Price of Imported Fertilizers Continues to Fall"

Hannon adds that " ... coffee is one of the items in which, although the cultivated area has not decreased, investment in fertilizers per manzana has decreased due to financial difficulties of producers as a result of the crisis."

According to reports by CentralAmericaData, during the first quarter of the year Central American countries imported $146 million worth of insecticides, herbicides and fungicides, with Guatemala the main buyer in the region with $41 million, followed by Costa Rica, with $34 million, Honduras, with $20 million, Panama, with $19 million, Nicaragua, with $17 million and El Salvador, with $14 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%.

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.

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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