Stagnating acreage in the recent years has been leading to BT cotton seed producers to diversify into food crops such as hybrid rice, corn and vegetables, which is seen as a great market potential by the companies
Online PR News – 04-May-2013 – Delhi – New Delhi: 20/4/2013- The Indian seed industry is on the verge of volatile growth. The growth accelerated in early 2000s, with the introduction of BT cotton, maize, single cross hybrids and hybrid rice. The seed market in India has transformed immensely over the years from conventional seed market to a marketplace for genetically modified seeds, by growing at a CAGR of 18.8% over the period FY’2007-FY’2013. The market across the country holds great potential on account of the rising agricultural commodity prices and continuous and remarkable rise in the population in India, which showcases escalated demand for agricultural food products, thus presenting favorable prospects for the seed industry in the country. Furthermore, improvement of seed replacement rate, production and distribution of quality seeds appropriate to agro-climatic zone at affordable prices along with a determined effort to address region specific constraints is expected to make a significant difference to the agricultural production in India in the coming years.
The Indian seed market has experienced a trajectory of development over the past few years. This development was majorly in the form of adoption of hybrid seeds in order to suffice the demand for agricultural food products in the country. The seed industry in India which is contributed both by public and private companies have showcased enumerable potential to cater to the demand for seeds among farmers, dealers and distributors. From the perspective of production capacity, 70% of India's seeds sales come from farmer bred seeds, 26% from those bred in publicly financed institutions, and only 4% from researched hybrids.
In the recent years, there has been a shift in the preference by the farmers from open pollinated varieties to hybrids in field crops as well as vegetable crops.
The hybrid seed industry in India has been dominated by BT cotton over the years due to the increased planting areas of Bacillus thuringiensis cotton. Over the years, the country has achieved a significant quantitative increase in cotton production. Maize is considered as a potential option for diversifying agriculture in various agro climatic zones and is the third most important food crops in India after rice and wheat. Vegetables, which have played a major role in Indian agriculture by endowing food, nutrition and economic security and producing higher returns per unit area and time, were also a significant contributor to the revenue of hybrid seed market in India.
According to the research report “India Seed Industry Outlook to FY’2018 - Rapid Hybridization in Vegetables, Corn and Rice to Impel Growth” by Ken Research, the future of the hybrid seed industry seems to be promising in the coming few years. This will be on account of rapid hybridization in vegetables, corns, rice and other crops in the country and advanced techniques applied in genetic modification which is expected to spur the demand for hybrids in the country in the near term.
“Several factors, including increased subsidies and renewed government thrust on the use of high yielding varieties, will lead to an increased productivity in the seed market. The industry, however, is expected to face major challenges in terms of unpredictable weather which may affect the pest occurrences in the short term” according to the Research Analyst, Ken Research.
The report India Seed Industry Outlook to FY’2018 - Rapid Hybridization in Vegetables, Corn and Rice to Impel Growth provides detailed overview on the seed market in India. This report helps reader to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, seed producing companies, suppliers and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
For more information on the industry research report please refer to the below mentioned link: