Phillips McDougall preliminary report 2011
 THE GLOBAL AGROCHEMICAL MARKET IS GROWING

Eighteen percent was the growth in the global market for crop protection products in 2011, according to a preliminary report by the consulting firm, Phillips McDougall. With this growth, the total value of the market is estimated to be $45,210,000,000.

The stability of the price of glyphosate, an improvement in the price of commodities, and the weakness of the dollar were the three key factors used to explain the good performance of the pesticides market in 2011.
 
The report states that Latin America (excluding Mexico, which is reported as part of NAFTA) was the region that registered the greatest level of growth worldwide, with 15.3%. This was possible due to the good performance of the economy, an improved climate over 2010, the strengthening of the local currency in Brazil, the Frogeye Leaf Spot fungus that affected soy, and the increase in the global demand for cotton and sugar cane.

TOP 5 Crops

The three crops with the greatest global increase in planted area during 2011 were: sunflower, with an increase of 10% of planted area, cotton (7.6%) and corn (2.9%).

However, wheat maintained first place with the greatest number of hectares globally (222 million hectares), followed by corn (168 million), rice in third place (160 million), and soy in fourth place with 104 million.

The crop with the greatest global production last year was corn with 820 million tons. And the crop that registered the greatest increase in production with respect to 2010 was sunflower, with a growth in global production of almost 15%. The crops that grew the least were canola and soy due to climatic reasons.

Projections for 2012 are positive thanks to a strong demand and stable prices.