Quadruple growth in 10 years! The Brazilian maize fungicide market is worth $560 million

According to research data from Kynetec Brasil, between the 2014-15 and 2022-23 crop seasons, Brazil's maize fungicide market grew fourfold from 561 million reais to 2.8 billion reais (about $560 million).

Among them, the proportion of fungicides for winter crops in the second quarter was the highest, reaching 85% of the total transaction volume, equivalent to R $2.4 billion; Sales of summer crop fungicides accounted for the remaining 15 percent. Overall, fungicide trade increased by 26% in 2022-23 compared to R $2.25 billion for the 2021-22 crop season.

By category, Stroby Mix solutions, consisting of strobilurins and triazole active ingredients, continued to lead the way with a 55% market share and sales of R $1.6 billion in 2022-23. At the same time, the use of Formamid products has also expanded rapidly, from 6% of the market share of R $33 million to 28% of the market share of R $793 million, and this type of product will be applied to 25% of the grain cultivation area in 2022-23.

In addition, sales of protective fungicides amounted to R $206 million, or 7%; Benzimidazole and Triazole accounted for 4% each, totaling R $203 million; Other categories of fungicides accounted for 2%, or about R $66 million. 

Kynetec expects the full coverage of fungicides in corn production to expand further.