Welcome to a short review of the major 2024 news stories that were published in New AG International during the year.

New fertilizer capacity is always noteworthy, particularly given the the roller coaster in prices during and following the global pandemic. There was new potassium sulphate (SOP) capacity in Europe with the Cinis Fertilizer‘s plant in Sweden. New AG International travelled to the inauguration. Read here.

There was new ammonium thiosulphate capacity with the opening of Tessenderlo Kerley’s new Thio-Sul plant in Geleen, Netherlands. Again, New AG International was part of an open day for the new plant.

In the U.S., Norofert started a foliar fertilizer production line, and Hello Nature began production at a new organic fertilizer plant.

Phospholutions prepared for commercial roll-out with Toros Agri partnership. New AG International spoke to the CEO of Phospholutions here.

The new capacity was countered by the closing of ammonia capacity in Europe, announced for Yara’s plant at Tertre in Belgium. See New AG International’s story here.

M&A activity
2024 was more a year of partnerships than acquisitions. M&A activity in the biological space seems to be down from previous years, both in volume and value. 2023 had ended with the announcement that Biobest (which rebranded as BioFirst in April 2024) acquired Brazilian company Biotrop for around Euro 500 million.

Among the biggest deals in 2024: in July, India-based agrochemicals company PI Industries Ltd. acquired Plant Health Care Plc (PHC) for approximately GBP 32.8 million ( approx. US$41.5 million). PHC is an AIM UK-listed company, with subsidiaries in the United States, Brazil, Mexico, and several other countries.

Fertilizer and chemicals company ICL Group acquired Nitro 1000, a manufacturer, developer and provider of biologicals in Brazil, for approximately $30 million. Also on the fertilizer side, Huma Inc. acquired the technological assets of the global granular fertilizer company Gro-Power, Inc.

In the biocontrol space, Andermatt Group AG acquired BioTEPP Inc., a Canadian company recognized for its biological pest control product, Virosoft CP4.

Nutrien Ag Solutions acquired Suncor Energy’s AgroScience assets, marking a strategic expansion into the biocontrol market. The acquisition included several patented and patent-pending technologies, notably a chlorin-based photosensitizer.

AgroFresh Solutions, Inc. acquired Pace International LLC, a provider of sustainable post-harvest solutions, equipment, and technical services. Pace was previously a subsidiary of Valent BioSciences LLC, a Sumitomo Chemical Co., Ltd. group company.

Lesaffre, a global player in the fermentation and microorganisms, acquired Altar, a French start-up that has developed technology enabling the continuous, uninterrupted cultivation of microorganisms’ cultures under controlled conditions to select strains with specific properties.

However, it wasn’t all good news for some industry participants. AgBiome ceased trading. Ginkgo Bioworks acquired AgBiome‘s platform assets, including over 115,000 fully sequenced and isolated strains. In March, Certis Biologicals took on AgBiome’s two biofungicides, Howler and Theia.

Regulatory and usage
AAPFCO approved the ‘Uniform Beneficial Substances Bill’ giving formal definition to biostimulants across the U.S. Listen to Nick Young, Environmental Program Manager, Fertilizing Materials Inspection Program, California Department of Food and Agriculture. Listen to Nick Young explain the significance of the definition and what to look out for next year, here.

In April, the first biostimulant was certified under The Fertilizer Institute’s (TFI) Certified Biostimulant program. There was also a new advocacy group on the block this year – the Biocontrol Coalition. Listen to our podcast here.

Technology development
In May, ICL began shipments of its new controlled-release fertilizers with biodegradable coating. Pursell Agri-Tech filed a patent for biodegradable coating that can incorporate biostimulants.

In irrigation, Reinke Manufacturing unveiled E3, a precision series of center pivot systems.
There was the continuing use of drones, robots and autonomous vehicles. Bluewhite raised $39M to bring autonomous innovation to farms worldwide.

Market data
Market data for the biocontrol industry shows growth. ‘European Biocontrol Market Worth Over 1.6 Billion Euro’ was the headline from The International Biocontrol Manufacturers Association (IBMA) member survey, carried out at the end of 2023.

In April, DunhamTrimmer estimated the global value-add fertilizers at USD 19.3 billion for 2022.

Predictions for 2025
So, what is in store for 2025? Here, we pick up on some themes from 2024 and combine with other industry analysis.

1) A feature of 2024 was less M&A activity than in previous years in the biological space. Partnerships will probably continue to be the order of the day in 2025, but a combination of lower interest rates and valuations for companies coming down, could give M&A an uptick. There are still some fertilizer companies yet to dip their toe in biologicals and they might be on the look-out for an acquisition offering market entry.
2) Expect to see a focus on formulation. 2024 has been a difficult year for ag markets in general. To get the best out of products, and boost adoption, companies will be looking at how formulation can best increase efficacy.
3) Regenerative agriculture – there has been more interest through 2024, but is it just a buzz phrase? With more awareness comes more scrutiny. Some participants will be keen that regenerative agriculture is not just seen as an off-shoot of organic farming. 2025 could be when regen ag becomes more clearly segmented, depending on region.
4) So-called ‘superfoods’ will continue to drive adoption of biologicals, and growth in greenhouse production and usage of specialty fertilizers. This could see increases in exports from Latin America, such as avocadoes from Peru, cherries from Chile. In Europe, the trend to increasing domestic supply could see more greenhouse projects.
5) Fertilizers – prices for commodity fertilizers have come off this year. This will continue to have a bearing on specialty fertilizer prices. European ammonia production looks set to be curtailed. The “talk” about green ammonia will continue but the pricing reality might hit in 2025. But one to watch – keep an eye on the sulphur market.

And looking into the early part of next year, be sure to book your place at the 23rd edition of the New AG International Annual event, 29 April – 1 May, which is being held in Bangkok, Thailand. It will be showcasing the latest innovations in specialty fertilizers and bio-inputs in Asia. Find out more here.