Trade Promotion agency, ZimTrade has implored local players to pursue strategic partnerships and tap into the US$144 billion agrochemicals global industry potential.
According to the agency, the SADC market alone imported US$4,4 billion worth of agrochemicals in 2023, up from US$2,7 billion in 2019.
COMESA imports showed similar growth, climbing to US$4,9 billion in 2023 from US$3,1 billion in 2019.Africa's agrochemical market is highly competitive, with imports dominated by countries such as China, Morocco, and Russia.
Zimtrade data shows that China alone accounted for US$2.2 billion in exports to African countries in 2023, followed by Morocco at US$1,1 billion and Russia at US$816 million with regional players like South Africa and Egypt, exporting US$685 million and US$563 million, respectively.
"This competitive environment underscores the need for Zimbabwean companies to carve out a niche, potentially focusing on innovative, eco-friendly agrochemicals or leveraging proximity to regional markets to reduce logistical costs.
"Analysis of bilateral trade data between African countries reveals that specific product categories present significant opportunities for Zimbabwean exporters," said ZimTrade.
The agency said mineral or chemical fertilizers containing nitrogen, phosphorus, and potassium (NPK) dominate regional demand, with imports in African markets reaching US$1,4 billion in 2022. Similarly, products like insecticides, herbicides, and fungicides - essential for improving crop yields, saw imports of US$296 million within African markets in 2023.
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"The global and regional agricultural sectors are expanding, and the demand for agrochemicals continues to rise, presenting Zimbabwe with a unique opportunity to tap into these markets and drive export-led growth.
Closer to home, ZimTrade said the demand for fertilizers and crop protection products is growing across Southern Africa due to the region's reliance on agriculture as a key economic activity with the potential for export growth being high particularly in countries such as Zambia, Malawi, and Mozambique, which are all experiencing an increase in agricultural activity.
"As demand for fertilizers and crop protection products increases in these countries, Zimbabwean companies are well-positioned to capitalize on this growth by offering cost-effective solutions that cater to the specific agricultural needs of each market," the agency added.
