Agro-chemical firm Best Agrolife Ltd on Friday said it has secured a patent for an insecticide composition to control sucking pests like whitefly and will start commercial manufacturing in January next year as it sets a target of an additional Rs 400 crore sales revenue in the 2022-23 fiscal from this new product.
The BSE-listed company, which posted a turnover of Rs 912 crore during the last fiscal year, has been granted patent by the Indian Patent Office for an invention entitled “A Synergistic Insecticidal Composition comprising of Bioactive amount of Difenthiuron and Pyriproxyfen” for the term of 20 years.
The company said in a statement that the three-way insecticidal combination will effectively control the entire sucking pest complex, including whitefly, jassids, aphids, and thrips together in various crops like cotton and chilli in just one spray alone.
The company has applied for a product trademark RONFEN.
When contacted, Best Agrolife MD Vimal Alawadhi said the company will start manufacturing of this new product from January next year.
From March onwards, it will be available in the market for sale.
“The total market for all products to control sucking pest is around Rs 8,000 crore.
We are targeting to capture at least 5 per cent of it during the next financial year,” he said.
The company is expecting a minimum sale volume of 1,500 kilo litre worth Rs 410 crore of this novel combination in FY 2022-23.
The patent covers the composition of Pyriproxyfen, Diafenthiuron, and Dinotefuran in a unique suspension concentrate formulation.
“The product was under large-scale field trials for the last two years.
Due to the prevailing pest scenario and its control on the entire sucking pest complex in various crops in just one spray alone, the product may be in high demand for next year in the market and can generate very high revenue for the company in FY22-23,” said Raajan Ailawadhi, Executive Director, Best Agrolife Ltd.
On a global scale, he said sucking pests are one of the most serious threats to agricultural crop productivity, as they cause both quantitative and qualitative losses.
“These losses are estimated to harm 18–20 per cent of annual crop productivity.
Most of the loss happens in the ﬁelds before harvest, and losses have been worst in developing countries,” Ailawadhi said.
With a 90 per cent share of speciality molecules, more than 360+ Formulation Licenses, and above 80+ licenses for manufacturing technicals, Best Agrolife said it is among the top 15 crop protection agrochemical companies in India.
Best Agrolife Ltd has three plants in Uttar Pradesh and Jammu.
It is into the manufacturing of technical, intermediates and formulation businesses of insecticide, fungicide and herbicide among others.