From the billions of dollars in damages Monsanto will pay out to a comprehensive analysis of the future of the agrochemical industry, news on the agrochemical front never disappoints. Here are last week’s news highlights from the agrochemical industry:
Monsanto to Pay $2 Billion for Couple with Cancer
A jury ruled in favor of California couple who said that their cancer was caused by Monsanto’s herbicide product Roundup. The verdict allowed for $55 million in compensatory damages and $2 billion in punitive damages against the company. Bayer, the parent company of Monsanto, is expected to appeal.
The couple used Roundup as a weedkiller on their property for over thirty years. Both were diagnosed with non-Hodgkin’s Lymphoma, which they said was caused by the herbicide. However, Bayer argues the EPA has found no connection between the use of its product and cancer. That claim differs from the World Health Organization International Agency on Cancer, which has publicly stated that glysophates (found in Roundup) are “probably carcinogenic to humans.”
There is vocal concern that Bayer has undue influence over the EPA, thus impacting their public findings, and emails and text messages between EPA officials and Monsanto have been produced. In the past, Monsanto has denied allegations of bribery to persuade the EPA. Experts conclude that this is not the end of litigation for Monsanto in terms of cancer-causing properties in its products. The plaintiff’s attorneys have stated, “This is just the beginning.”
Agrochemical Company Isagro Down 15% in the First Quarter
Italian agrochemical company Isagro is down 15.4% within the first quarter of 2019. While it would comfort investors to say that this trend is out of the ordinary, the company has experienced an overall decline of 32% within the last five years. While the market as a whole experienced a 7.1% decline in 2018, Isagro claimed an overall loss of 20% at the end of last year.
Despite previous years of bad earnings, the company’s revenue is up — if only slightly. But Isagro expects a turnaround later in the year with the addition of the fungicide Fluindapyr to help boost revenue. It is the hope Isagro (and its investors) that the addition of this product will help boost the company’s stock price.
Comprehensive New Report on Agrochemical Industry Now Available
A new report entitled Global Agrochemical Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027 from MarketReasearch.biz offers a thorough analysis of the agrochemical industry, looking at revenues, industry trends, constraints, opportunities and threats from 2018 until 2027. The report also covers trends that will shape the future of the industry, including acquisitions, mergers and advancements in technology.
Boosting crop yield is a priority topic, as farmland becomes increasingly scarce and water for farming less readily available. Agrochemicals are highlighted as a necessity to increase production of crops for the ever-growing global population.
The Asian Pacific region is predicted to dominate the AgChem industry, specifically China and India. Agriculture is the primary industry within the Asian Pacific, and the area’s population boom means crop yield has become a top priority. Grains and cereals are the most important crops for feeding people, and as these crops are prone to insects and infection, the role of agrochemicals in the future will be an increasingly important one.