Market Trends of Nepal Seed Sector Analysis
This section covers the major market trends shaping the Nepal Seed Sector Analysis Market according to our research experts:
Increase in Adoption of Hybrid Seeds
The adoption of hybrid seeds has significantly increased in the country due to the increasing pressure for high crop production to achieve food security. The increase in population, rapid urbanization, and skyrocketing land prices have led to a decrease in agricultural land over the last decade. In order to feed the growing population, the country has to increase agricultural output, which can be achieved by cultivating crops using hybrid seeds. Crops from hybrid seeds mature sooner and their return of investment is much higher as compared to local varieties, which are driving many Nepalese farmers to adopt hybrid seeds rather than local varieties.
Favorable Government Policies Supporting the Market Growth
The demand for hybrid seeds is increasing in the Nepalese market due to their high production potential. Annually, a large quantity of hybrid seeds is imported to full fill this demand. In order to reduce seed imports, there is a need for the development of suitable hybrid and open-pollinated varieties of different crops according to farmers' choice. To safeguard the national interest of self-sufficiency, import substitution, and increase exports of good quality of seeds, the Nepal Ministry of Agriculture has come up with many policies, such as the National Seed Vision and Seed Regulation to enhance the dynamism of the Nepalese seed industry.
