Market share

FMC India aims to reach 15% market share in 5 years

FMC India is one of the leading crop protection companies and the leading player in the insecticide segment. It offers a strong portfolio of solutions for crop protection, crop nutrition and professional pest control. Its innovative crop nutrition solutions enable farmers, agricultural advisers and pest management professionals to meet challenges economically while protecting the environment.

The agricultural science company recently announced the expansion of its portfolio with five new products to help farmers achieve higher yields through good quality products and an improved soil profile. In an exclusive interview with Bizz Buzz, Ravi Annavarapu, Chairman of FMC India, recounts the company’s aim to achieve a revenue target of Rs 5,000 crore by 2026.

FMC Corporation, the global agricultural science company, reported revenue of over $5 billion in fiscal year 2021-22. It invests 7% of annual sales in R&D every year. It powers one of agriculture’s most productive crop protection pipelines

FMC India currently holds 10% market share in the country and aspires to achieve 15% domestic market share within the next 5 years. The company also plans to grow its revenue at a CAGR of almost 11% to reach Rs 5,000 crore by FY 2026-27 from Rs 3,000 crore in FY 2021-22.

What is FMC India’s current market share in the country? What are the future goals?

Currently, FMC India holds 10% market share in the country and aspires to achieve 15% domestic market share within the next five years. The company also plans to grow its revenue at a compound annual growth rate (CAGR) of almost 11% to reach Rs 5,000 crore by FY 2026-27 from Rs 3,000 crore for FY 2021-22.

To accomplish this ambitious plan, it announced the expansion of its portfolio with five new products to help farmers achieve better yields through good quality products and an improved soil profile. The newly launched products will be available for sale from December.

How many products does the company currently offer and how many are in the pipeline?

At present, FMC India offers 40 products for 30 crops in various categories including insecticides, herbicides, fungicides, crop nutrition, biological solutions and seed treatment. Recently, we launched two insecticides – Corprima and Talstar Plus, an herbicide – Austral, and two crop nutrition products – Petra Biosolution and Cazbo micronutrient solution. We have 10 more exclusive products in the works.

With the addition of the new line, the company is expected to offer nearly 50 products over the next five years. Our products are a blend of innovative solutions from our in-house research and development (R&D) team as well as imported technologies. We have around 80 agronomists in the R&D team who are constantly working to find new solutions to the problems faced by farmers.

Apart from them, we have more than 15 scientists doing global R&D for the company at India Innovation Center in Hyderabad. It is a global research and development partner center of our Stine Research Center in Delaware, USA. FMC acquired this research center campus as part of its acquisition of part of DuPont’s crop protection business in 2017.

FMC Corporation is the fifth largest agrochemical company in the world, present in more than 50 countries. The global agricultural science company reported revenue of more than $5 billion in fiscal year 2021-22. It invests 7% of its annual sales in R&D every year. It feeds one of the most productive crop protection pipelines in agriculture.

How do you ensure that these products are also safer for the environment?

FMC aims to provide products that not only help maintain a safe and secure food supply, but with minimal impact on the planet. We are committed to agro-economic growth in India, through innovative solutions to sustainably increase the productivity and prosperity of farmers. We also ensure the responsible use of our products, while having a positive impact on local communities.

To reflect our commitment, FMC has set sustainability goals to challenge us and create a better world, in partnership with our customers, suppliers, growers and the local community. We are proud of the progress we have made in innovation, safety, community involvement and environmental goals over the years.

Sustainability is one of our core values. FMC, globally and in India, has always emphasized its accountability to its internal and external stakeholders. We continually strengthen our sustainability efforts through deeper engagement, awareness and trust with the communities we work with, inside and outside the organization.

Around 80% of our products are sustainable and our goal is to introduce solutions that are 100% safer for the environment. With 6,400 employees, including 800 scientists, in more than 100 locations worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and technologies that are ever better for the planet.

Could you tell us about the company’s manufacturing facilities in India?

FMC India is headquartered in Mumbai, with a regional office in Gurugram. We have two manufacturing sites – in Savli and Panoli, both in Gujarat. The Savli site is a pesticide formulation unit as well as a packaging division. After the acquisition of Cheminova India Ltd, its Panoli facilities are used to manufacture intermediates and active ingredients for crop protection.

We also have a Discovery Research Group at India Innovation Center in Hyderabad, Telangana and a Field Evaluation Station – SAFES in Vadodara, Gujarat. With a workforce of approximately 610 employees, we are present in all regions of the country.

How does FMC India promote sustainable farming practices?

FMC India has been serving farmers for more than three decades, and we are committed to fostering their prosperity, while contributing to the sustainability of agriculture. Our support is not limited to an extensive product offering. The company has organized personalized training programs for farmers throughout the year, promoting good agricultural practices covering all kinds of crops grown across the country.

In order to promote sustainable practices, the company is committed to attracting and developing talent in agriculture. We recently partnered with eight universities across India to launch the CME Science Leaders Fellowship Scheme. This program aims to support the capacity building effort in the field of agricultural science R&D to strengthen the resilience of the sector.

The FMC India program will help talents flourish within the agricultural R&D system. The program will identify and fund a full master’s or doctoral degree for deserving students who wish to pursue graduate studies in agricultural sciences. Selected candidates also get the exposure and mentorship required in the industry so they can contribute at a higher level upon completion of their degree programs.

If candidates wish to join FMC, they are given priority in future recruitments within the company. The program will allocate 50% of the seats to female candidates to encourage women in agriculture.