MBII: Crop protection industry enjoyed well above average growth in 2018 with Latin America leading the way.

By Ian Gilson, PhD, CFA

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NASDAQ:MBII

Crop protection data for 2018 are now available. The overall market increased from $54.3 billion in 2017 to $57.6, fungicides and insecticides comprised a $ billion in 2018. This is an increase of 6.0%, well above the long term forecast of 3% a year for 2018 to 2023.

The best performing geographical area was Latin America which increased by 11.1% to $14.18 billion; USA/Canada/Mexico grew to $11.62 billion, up 8%; Africa/Middle East gained 7.4% to $2.27 billion and Asia/Pacific was up 7.2% to $17.49 billion. The lone decliner was Europe which dropped by 3% to $12.00 billion.

Marrone (MBII) has interests in Mexico and is working to further relationships in Latin America.

Within the overall markets herbicides accounted for 42.7% of the overall market, fungicides were 28.4% and insecticides 23.3%. Together fungicides and insecticides, the major markets for Marrone's current products, were a $30 billion market.

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