Hybrid seeds growth
The hybrid seeds market in India is expected to grow at a Compound Annual Ground Rate of 15 per per cent during 2016-2020, says London-based consultancy Technavio.
Threat from pests and adverse environmental conditions have increased the demand for these improved quality seeds, it said in a recent report.
In addition, the government enabled 100 per cent Foreign Direct Investment in the agriculture sector since 2011, has enhanced investment in R&D and the production of hybrid varieties.
However, the high cost of hybrid seeds is hindering the growth of the market. Additional factors such as the effect of different soil types on the quality of seeds also limit the growth of the market, it noted.
Arushi Thakur, an agricultural industry expert from Technavio says, “The rising population, and the subsequent growth in the demand for food, has increased the need for better productivity and for balancing the demand-supply gap, especially among smallholder farmers. The government is encouraging the use of high-yielding varieties of hybrid seeds as food security has become a national concern.”
With an increase in population, change in climatic conditions, and a decrease in the total area of cultivable land, there is a need to ensure food security and high yield.
Therefore, vendors have increased their investments for the development of advanced technologies to increase yields through fertilizers and feeds, enhanced varieties of crops, and mechanization.
Modern seed technologies enable cultivation of seeds with enhanced characteristics, which can eventually increase the profit margins of not only the vendors but also of farmers, it said.
The top vendors are: Bayer CropScience, Mahyco, Monsanto, Nuziveedu Seeds and Rasi Seeds. fii-news.com