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Locust attack may be beneficial for agrochemical companies in India

India city Mumbai covid-19 2020 innovations
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MUMBAI: Locust attack in India has triggered concerns over the Indian agriculture sector in the financial year 2021, even as challenges to tackle covid-19 related issues stay.

However, the pest attack is likely to create additional demand for agrochemical companies in India. Shares of Bayer Cropscience, UPL Ltd, Sumitomo Chemicals, Insecticides India, BASF, and Rallies India have risen 1-8% in last three days on optimism for the sector.

According to analysts, such disruptive events create awareness among farmers and provide stimulus to the use of agrochemicals.

Though many insecticides or combinations are used to control locusts, considered one of the most destructive pests in the world, chlorpyrifos is one of the key insecticides.

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