European seed market trends

During Euroseeds 2023, held in Malta from 15-18 October, Dr Nomman Ahmed, Senior Director of Research and Consulting at Kynetec, spoke about global trends in the agricultural market using data and trends from around the world. The top five crops—corn, wheat, soybeans, rice, and barley—still account for 90% of the world's value and 85% of the world's planted area. Despite the challenges faced by the agricultural sector, the global seed market grew by 5.1% year-on-year, although volume growth was marginal at 0.8% year-on-year. The results of Kynetec's FarmTrak study of 25,000 farms across Europe showed an overall stable picture: seed behavior among farmers remained broadly unchanged. European producers consistently choose spring and winter crops, with rising seed prices driven by wheat, barley, rapeseed and sunflower. Negative growth was noted for sugar beets and corn. For sugar beets, the decline in growth may be due to a reduction in EU approvals for some crop protection products, ...