Sri Lanka’s ban on glyphosate is expected to drive demand for high quality specialty fertilizers
The NDB Investment Bank (NDBIB) believes that the ban on glyphosate by the government of Sri Lanka would increase the demand for high quality specialty fertilizers.
“Specialty fertilisers offered by UPL help farmers increase crop yields, improve product quality and reduce the environmental impact of agricultural practices,” NDB Investment Bank Limited (NDBIB) has said.
“Properties such as higher water solubility, better soil absorption, and slow release of nutrients lead to higher levels of productivity and improved returns on investment.”
CIC Holdings (CIC) acquired a 70% stake of UPL, a family-owned firm which focuses on specialty agricultural fertilisers, complementing CIC’s portfolio of products and services in the agri business sector.
The transaction has reportedly brought globally known brands in specialty agri inputs such as Yara, Everris, Grow More and Ginegar under the CIC umbrella, NDBIB, which acted as financial advisor to the deal.
It also strengthened UPL to “spearhead a new phase of growth supported by the strong distribution strengths of CIC,” NDBIB has said.
According to NDBIB, the recent ban on glyphosate and negative publicity on the environmental impact of agrochemicals are expected to drive demand for high quality specialty fertilisers and boost UPL’s vision of diversifying away from relying solely on traditional commoditised fertiliser.
The report above indicates the willingness of Sri Lankan ventures to explore new avenues. The turn towards high quality specialty fertilizer as opposed to the banned glyphosate indicates opportunities prevalent in the agriculture sector, especially with regard to fertilizer.
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