Vittia expressed that orders rose 60% month-on-month in August

Recently, Brazilian agricultural materials company Vittia revealed that the company's agricultural supplies orders in August increased by 60% compared with the previous month. Vittia said the increase marked a "reversal" from the second quarter of this year. In the first half of 2023, Vittia achieved net revenue of BRL 221.4 million (about $45 million), 29% lower than the same period last year, mainly due to lower prices for organic mineral inputs (Nitrogen)

 Vittia also said revenue is gradually growing and expects a greater recovery in the fourth quarter. The company expects profit margins to improve this year as organic products increase their share of the sales mix, noting that deferrals of farm supplies are well above average.

It further noted that despite the short-term challenges, the Brazilian agriculture and agricultural materials market still present a favorable situation in 2023/2024. Historical market data shows that sales of specialty fertilizers have increased by 13% annually and will remain at this level under stable prices. Sales of biopesticides are expected to grow at an average annual rate of around 30% until 2030. These are positive predictions for Vittia, which is well positioned in the biodefense market, and the company's involvement in this area will increase.

 Wilson Romanini, CEO of Vittia and a member of the founding family, said that this year, not only Vittia's agriculture will grow, but well-functioning companies will grow. Romanini also stressed that the decline is natural, but not a sharp decline, and he is confident about the outlook for 2023.