Bangladesh: Insecticide Market 2024

Insecticide Market Size in Bangladesh

After four years of growth, the Bangladeshi insecticide market decreased by -9.4% to $X in 2021. Overall, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Insecticide consumption peaked at $X in 2020, and then fell in the following year.

Insecticide Exports

Exports from Bangladesh

In 2021, insecticide exports from Bangladesh rose markedly to X tons, picking up by 8.5% compared with 2020. Over the period under review, exports posted significant growth. The growth pace was the most rapid in 2020 when exports increased by 2,154% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, insecticide exports skyrocketed to $X in 2021. In general, exports recorded a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by 1,875% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in years to come.

Exports by Country

The Philippines (X tons) was the main destination for insecticide exports from Bangladesh, accounting for a 65% share of total exports. Moreover, insecticide exports to the Philippines exceeded the volume sent to the second major destination, Fiji (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Philippines totaled +321.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Fiji (-10.9% per year) and Brunei Darussalam (0.0% per year).

In value terms, the Philippines ($X) remains the key foreign market for insecticides exports from Bangladesh, comprising 37% of total exports. The second position in the ranking was held by Fiji ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the Philippines totaled +290.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Fiji (-52.0% per year) and Brunei Darussalam (0.0% per year).

Export Prices by Country

The average insecticide export price stood at $X per ton in 2021, increasing by 38% against the previous year. Overall, the export price, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2017 an increase of 39% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Brunei Darussalam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (-2.4%), while the prices for the other major destinations experienced a decline.

Insecticide Imports

Imports into Bangladesh

In 2021, purchases abroad of insecticides decreased by -11.8% to X tons for the first time since 2016, thus ending a four-year rising trend. Overall, total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +73.1% against 2016 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 34% against the previous year. Imports peaked at X tons in 2020, and then declined in the following year.

In value terms, insecticide imports fell to $X in 2021. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 34%. Over the period under review, imports attained the peak figure at $X in 2020, and then fell in the following year.

Imports by Country

China (X tons), India (X tons) and Indonesia (X tons) were the main suppliers of insecticide imports to Bangladesh, together comprising 82% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +3.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Indonesia ($X) constituted the largest insecticide suppliers to Bangladesh, with a combined 73% share of total imports.

In terms of the main suppliers, Indonesia, with a CAGR of +9.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average insecticide import price amounted to $X per ton, rising by 3.8% against the previous year. Over the last nine years, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2016 when the average import price increased by 29%. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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