Covid-19 Impact on Biostimulant
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PRE COVID-19 IMPACT ď ˝
The sectors which have experienced COVID-19 impact on the agricultural level are agriculture, food supplies, and animal production sectors. Till April 2020, there was no medicine or vaccine available which has consequently resulted in lockdown and reduction in the production following social distancing measures. Under the agriculture sector, biostimulant which helps in the growth of the plants and is one of the booming products in the market which helps in increasing the crop and food productivity has experienced impact due to the current COVID-19 pandemic.
POST COVID-19 IMPACT ď ˝
As time passed, demand for the products started increasing as food products are essential product hence various manufacturing company started taking decisions in order to provide their product’s in market. Also governing authority has provided permission or unlocked the lockdown which has helped the companies to deliver the product to the famers.
BIOSTIMULANTS MANUFACTURERS: PERSPECTIVE & INITIATIVES ď ˝
Various companies and brands have shown a significant growth in their first quarter revenue considering the COVID-19 as challenging and have stated that the second quarter of the company will be quite challenging in terms of organic growth of revenue and the factor influencing such as currency exchange rate uncertainty, shortage of raw material and their supply chain,
Biostimulant Instances ď ˝
As such there was no major impact on the fertilizers such as bio stimulant. The pandemic has affected badly during the start of the year 2020, where manufacturers had shut their facilities and also lack in the supply. Further, the facilities were made reopen with strict measures and reopening in the transportation facilities have brought an opportunity for the biostimulant manufacturer to again grow in market. This is because the agricultural commodities are the essential products which are highly in demand around the globe. Biostimulant is playing a major role because it is fulfilling the incre asing population’s demand in the market .
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