Considering an investment into agriculture? Start by adding 200,000 farmers to your due diligence arsenal
AgFunderNews
2023.12.07
Kynetec currently has access to over 200,000 growers, retailers and agronomists across more than 50 countries in the largest ag markets. Working with such experts, investors can improve their due diligence when dealing with agtech startups. They can also better understand farmers’ perceptions around agtech and what they believe is and is not worth spending money on.
The adoption of biopesticides varies not only by crop type but also geographically. Take the specialty crop market in Brazil where growth over the last decade has been slow, ramping from $144 million to $224 million, according to Kynetec.
Brazilian farmers have adopted biopesticides for row crops at a much greater rate than their American counterparts, with biopesticide spend in row crops growing from $172 million in 2012 to $644 million in 2022. This adoption is led by the 19% of soybean farmers and 14% of corn farmers who have adopted biopesticides into their management regime.
In 2022, biopesticide spend in row crops in the United States sits at $56 million, with only 2% of corn and soybean growers having made the jump. There are encouraging signs in the data in some key Corn Belt states, however. For example, spend in biofungicides amongst corn and soybean growers in Iowa and Illinois has grown 600% over the past two seasons from $870,000 in 2020 to $7.6 million in 2022.
Kynetec currently has access to over 200,000 growers, retailers and agronomists across more than 50 countries in the largest ag markets. Working with such experts, investors can improve their due diligence when dealing with agtech startups. They can also better understand farmers’ perceptions around agtech and what they believe is and is not worth spending money on.
The adoption of biopesticides varies not only by crop type but also geographically. Take the specialty crop market in Brazil where growth over the last decade has been slow, ramping from $144 million to $224 million, according to Kynetec.
Brazilian farmers have adopted biopesticides for row crops at a much greater rate than their American counterparts, with biopesticide spend in row crops growing from $172 million in 2012 to $644 million in 2022. This adoption is led by the 19% of soybean farmers and 14% of corn farmers who have adopted biopesticides into their management regime.
In 2022, biopesticide spend in row crops in the United States sits at $56 million, with only 2% of corn and soybean growers having made the jump. There are encouraging signs in the data in some key Corn Belt states, however. For example, spend in biofungicides amongst corn and soybean growers in Iowa and Illinois has grown 600% over the past two seasons from $870,000 in 2020 to $7.6 million in 2022.
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