Pest management is vital for the production of food, which is needed in abundance to meet the growing demand of the world’s population. An important tool for this management is the use of chemicals to kill pests, which destroys plants and transmit human and livestock diseases. However, the use of chemicals is not safe for plants, humans, and the environment. Various strategies for pest control are emerging now, and there is a broad scope for developing safer, more potent, and environmental-friendly pesticides. Of the various strategies developed for controlling pests, organic pesticides have proved quite effective and promise to remain so in future. They help eradicate harmful pests without causing any damage to plants. Moreover, they help produce food that is safe and healthy to eat. Furthermore, they are usually highly bio-degradable and become inactive within hours or a few days. This again reduces their impact on beneficial organisms and are relatively environmentally safe. Rotenone, nicotine, pyrethrum, baking soda, rock meal, neem oil, and chili pepper are some of the widely used organic pesticides used in small-scale subsistence farming as well as commercial agriculture.
The organic pesticides industry is witnessing a boom in recent years. According to a report published by Allied Market Research, the organic pesticides market garnered $99,200 million in 2016 and is forecast to accrue a sum of $279,195 million by 2023, growing a CAGR of 14.9% during the forecast period. The growth of the market is attributed to the rise in demand for organic pesticides over the years, the market is growing at a rapid pace. Governmental policies that support the use of organic pesticides and the benefits provided by organic pesticides are likely to boost its demand during the forecast period.
Several strategies undertaken by companies in the space are paving way for its growth worldwide. Coromandel International Limited, India’s second largest phosphatic fertilizer player recently announced its acquisition of the biopesticide business from E.I.D. Parry, a leading sugar manufacturer in India. The acquisition allows Coromandel to enter the crop protection segment, gain access to the US and European markets, enhance its presence all over the world, address numerous crop and consumer segments, and offer integrated pest management solutions. The city of Huntington Beach announced the launch of a year-long pilot study to test the use of organic pesticides in a portion of Central Park West. The decision comes after the growing concerns about the adverse health effects of synthetic pesticides on humans and the environment in the city. Bionema, a biotech company recently raised £500,000 for the development of organic pesticides.
Coromandel Acquires E.I.D. Parry’s Business
In April 2018, Coromandel International Limited completed the acquisition of the bio-pesticides division of E.I.D. Parry as well as its wholly owned subsidiary Parry America, Inc., for a sum of Rs.338.01 crore. The bio-pesticides business deals with the production and of neem-based Azadirachtin technical and formulations, bio-stimulants based on plant extracts, and others. According to Coromandel International, the complementary market presence in Indian and global markets by both the firms offer a brilliant scope for growth for the chemicals and bio-pesticides. “The transaction is part of the strategic plan of the company to expand its crop protection business. With organic movement gathering momentum in recent times, need for natural/microbial pest control solutions have been gaining traction,” said Vellayan, executive chairman, Murugappa Group which owns Coromandel International.
Huntington Beach Tests Organic Pesticides in Central Park
In order to eliminate the potentially harmful synthetic pesticides and other chemicals in the city of Huntingtin Beach, the Councilman O’Connell submitted a year-long pilot program of using organic pesticides in the western section of Huntington’s Central Park area. The move was unanimously approved by the City Council after several members supported the idea. According to O’Connell’s written comments, “Many agencies are now considering moving away from the reliance on synthetic pesticides to limit exposure to the general public, including children and pets. I propose that the City investigate the use of organic herbicides.” The council also requested that staff carry out an investigation into the possibility of expanding the program.
Bionema Secures £500K for Organic Pesticides
Bionema, a leading biopesticide technology developer for the agri-food sector raised a sum of £500,000, led by an overseas private investor with co-investment from the Development Bank of Wales, Swansea Innovations, Swansea University, and other investors. The investment helps in the production of organic pesticides, thus reducing the dependence of chemical pesticides for crop pest control. Bionema hires three new staff to develop and register its bioinsecticide products that control major insect pests of soft fruits. Dr. Minshad Ali Ansari, founder and MD of Bionema, said, “We are really pleased that the Development Bank of Wales, Swansea Innovation, and our overseas investor, Mrs. Shahnan Chowdhury, recognize our potential and our achievements to date as we capitalize on the industry drive to reduce dependence on chemical pesticides with safe and sustainable solutions. Their funding will enable us to further develop our biopesticide products and take advantage of the growing organic market.”