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Agrochemicals: New Competitor in Panama

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Agrochemicals: New Competitor in Panama

Guatemalan Foragro, manufacturer of insecticides, fungicides and herbicides, opened a branch in Panama and aims in the short term to position 50 products in the local market.

Monday, April 22, 2019

The company reported that for the opening of its branch in the Panamanian market invested $300,000 and that this would have a presence in all Central American countries, as they already operate in El Salvador, Honduras, Nicaragua and Costa Rica.

You may be interested in "Agrochemicals market figures up to1st Semester"

Hugo Nufio, general manager of Foragro, explained to Prensalibre.com that "... Panama was the only market that had yet to be covered in the region, in order to make the leap to other markets outside it."

Nufio added that "... Panama has an agricultural vocation in the production of rice and bananas and that is the market we seek to work. Much of the agricultural production is to serve the domestic market and another part is destined for the tourism sector and the service sector."

CentralAmericaData reports state that from January to June 2018 the main buyer of insecticides, herbicides and fungicides in Central America was Guatemala with $86 million, followed by Costa Rica with $74 million, Nicaragua with $50 million, Honduras with $49 million, Panama with $47 million and El Salvador with $37 million.



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