10:39 AM | December 14, 2020 | Robert Birkett
Sumitomo Chemical has plans to make “significant investments” in Brazil, its Latin America chief executive, Juan Ferreira, says. “We have decided to invest a large amount to increase our presence in agrochemicals and biologicals in Brazil,” he explains.
The chief executive reveals that there would be a fungicide launch in 2021 for the Asian soybean rust (Phakopsora pachyrhizi) market, which he anticipates becoming a major earner for the company. He said the company had an application in the final phases of the approval process. Sumitomo’s new fungicide, inpyrfluxam (trade-marked as Indiflin), is being reviewed for approval in Brazil and Argentina.
The company has distribution agreements with companies “with whom it has strong relationships”. However, it will invest in expanding its own sales and technology development teams.
Mr Ferreira also stresses the success of Brazilian agriculture, saying that it had become a global leader and that it had overcome the Covid-19 pandemic, maintaining growth despite it. He notes that the authorities are “deregulating” the approvals process and that he was hopeful that products would move through the system more quickly.