The import of fungicides to the Philippines in 2023 stood at an actual value of 23.852 million kilograms. From 2024 onwards, imports are forecasted to increase annually: 24.698 million kilograms in 2024, 25.597 million kilograms in 2025, 26.477 million kilograms in 2026, 27.341 million kilograms in 2027, and 28.186 million kilograms in 2028. This consistent upward trend indicates an average annual growth rate (CAGR) over the five-year forecast period.
Year-on-year percentage increases are projected as:
- 2024: 3.54%
- 2025: 3.64%
- 2026: 3.44%
- 2027: 3.27%
- 2028: 3.09%
This positive trajectory reflects growing demand for fungicides, likely influenced by an expanding agricultural sector and heightened need for crop protection in the Philippines.
Future trends to watch for include technological advancements in fungicide efficacy, shifts in agricultural practices towards more sustainable solutions, and any policy changes impacting the importation of agrochemicals.
