Vegetable seeds industry to double to ₹8,000 cr in 5 years: ICRA

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Domestic vegetable seeds industry is expected to grow by 100 per cent to around ₹8,000 crore in the next five years on account of demand for higher vegetable production and greater use of hybrid seeds, according to ratings firm ICRA. “Given the constraints on increasing the area under cultivation, the growth would come through productivity augmentation, of which a major part has to be driven by greater adoption of hybrid seeds in cultivation of vegetable crops. ICRA estimates that with the growth in volumes as well as value (on the back of hybridisation), the size of the vegetable seeds industry would double from the current levels to around ₹8,000 crore in the next five years — registering a CAGR of around 10 per cent, “ said Sachin Sachdeva of ICRA. Over the last 25 years, vegetable crops output has nearly trebled to an estimated 181 million tonnes (mt) in 2017-18 from 59 mt in 1991-92. This growth is contributed both by increase in the area under cultivation and improvement in yields.

As against general nutrition guidelines recommending average per capita consumption of 110 kg/annum of vegetable per annum, the production in the country is adequate at per-capita level of around 140 kg/ per annum. However, there is still a relative shortfall of vegetables in meeting the required nutritional need of the population due to mismanagement at various levels. Because of the inherent perishable nature of the produce, around 30 per cent of vegetables perish during harvesting, storage, grading, transportation, packaging and distribution, ICRA said

“The key to improve adoption of hybrid seeds in production of vegetable lies in ensuring the availability of quality seeds, bridging the awareness gap in farmers regarding better techniques, and developing supportive infrastructure facilities,” Sachdeva said.

Source : Business line

 

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