Agribusiness

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Agribusiness and fertilizers

Potash majors hope for strong rebound in markets this year

Following a lackluster 2019, potash producers hope for a revival in the industry’s fortunes this year. Nutrien, the largest producer of potassium chloride (KCl), projects worldwide demand to rise to 67–69 million metric tons (MMt), up from preliminary estimates for 2019 of 64–65 MMt, as offshore inventories are depleted, western hemisphere planted acreage increases significantly, and affordability for growers remains attractive with improved prices for corn, soybeans, and palm oil.

Novozymes beats earnings estimates despite challenging ag markets

Enzymes and microbes producer Novozymes (Bagsværd, Denmark) reports fourth-quarter net profit of 922 million Danish krone ($137 million), up 10% year on year (YOY), on sales up slightly to DKr3.7 billion. Organic sales growth was 1%.

Safco to acquire Sabic's agri-nutrients unit

Sabic has entered into an agreement to transfer its fertilizer business to its affiliate Saudi Arabian Fertilizer Co. (Safco). Under the accord, Safco will acquire the newly formed Sabic Agri-Nutrients Investment (Sanic) in exchange for shares, increasing Sabic’s stake in Safco to 50.1%, from 42.9%. Sanic is valued at 4.59 billion Saudi riyals ($1.22 billion).

ChemChina, Sinochem agree to merge ag assets

ChemChina and Sinochem have announced plans to consolidate their agricultural businesses into a new holding company within ChemChina. 

Bayer extends AI research agreement for crop protection programs

Bayer has extended an existing research agreement with artificial intelligence (AI) specialist Atomwise for the continued development of two crop protection programs.

Univar closes sale of pest management business to private equity

Univar said today that it has completed the sale of its environmental sciences unit, a pest management business, to private equity firm AEA Investors (New York, New York), for $195 million.

India's PI Industries completes acquisition of agchem firm

Agchem producer PI Industries (Udaipur, India) has completed the acquisition of lsagro (Asia) Agrochemicals Private Ltd. (lsagro Asia; Mumbai, India) from lsagro Group (Milan, Italy). The cost of the transaction is 3.45 billion Indian rupees ($48.2 million).

American Vanguard to acquire four herbicide brands from Corteva

American Vanguard (Newport Beach, California) has acquired four herbicide brands from Corteva Agriscience. 

Adama obtains regulatory approval in Paraguay for new fungicide

Adama (Tel Aviv), a major generic crop protection pro ducer owned by ChemChina, says it has obtained regulatory approval in its first market, Paraguay, for Armero, its new dual-mode fungicide containing the active ingredients prothioconazole and mancozeb, benefiting from its new in-house production of prothioconazole, a broad-spectrum systemic fungicide. 

BASF invests in Israeli agtech startup Equinom

BASF Venture Capital is the lead investor in a funding round for Israeli agtech startup Equinom (Givat Brenner, Israel).

Mitsui Agri Science acquires agchems firm Belchim

Mitsui & Co. said today that it has agreed to acquire a 62% stake in the agricultural chemicals company Belchim Crop Protection (BCP; Londerzeel, Belgium) from BCP's founder, Belchim Management (BM).