Agri Business

Best Agrolife’s insecticide formulation to tackle sucking pests gets patent

Our Bureau Bengaluru | Updated on July 30, 2021

To launch new product for next kharif season

Best Agrolife Limited said on Friday that it has received a patent for an insecticidal combination that will help control the entire sucking pest complex including whitefly, jassids, aphids and thrips together in various crops through a single spray.

The patent is valid for 20 years, the company said in a statement.

The insecticide combination comprises a bioactive amount of Diafenthiuron and Pyriproxyfen. The patent covers the composition of Pyriproxyfen, Diafenthiuron, and Dinotefuran in a unique suspension concentrate formulation, it said.

The company has applied for a product trademark- RONFEN for the insecticidal combination, which will hit the market with the onset of next kharif season.

“We are expecting a minimum sale volume of 1,500 kilo litres, worth ₹410 crore of this novel combination in FY 22-23. With its wonderful control on the entire sucking pest complex in one spray alone, we have decided to introduce it pan-India on multiple crops,” Vimal Alawadhi, Managing Director, Best Agrolife Ltd, said in a statement.

Market size

The Indian insecticide market is estimated to reach a whopping ₹29,290 crore by 2023, at a CAGR of 8.3 per cent. Best Agrolife, with this patent, now holds a competitive edge over other players in India, the company claimed.

Shares of Best Agrolife ended 1.56 per cent higher on the BSE on Friday at ₹548.90. For the year-ended March 2021, Best Agrolife had reported a net profit of ₹37.07 crore on a revenue of ₹905.45 crore.

“The product was under large scale field trials for the last two years. Due to the prevailing pest scenario and its control on the entire sucking pest complex in various crops in just one spray alone, the product may be in high demand for next year in the market and can generate very high revenue for the company in FY22-23,” said Raajan Ailawadhi, Executive Director, Best Agrolife.

Ailawadhi further said that sucking pests most serious threat to crop productivity on a global scale. Such losses are estimated to harm 18-20 per cent of the annual crop productivity.

Best Agrolife, with 90 per cent share in speciality chemicals and over 360 formulations claims to be among the top 15 agro chemical companies in the country.

Published on July 30, 2021

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