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Bayer CropScience adjusted its growth expectation in Brazil
Jun. 29, 2015
Even so, Bayer CropScience president for Brazil and Latin America, Eduardo Estrada, said that this growth will be greater than the average expansion of other companies of the sector inserted in the Brazilian market. The average growth of agrochemical companies in the country will be 2% in 2015.
In 2014, the agricultural business of Bayer group accounted sales of US$ 5.45 billion in Brazil - 24% more than in the previous year. The volume represents 65% of the total revenue of the Bayer group in the country. "Going forward, we will have 75% of share," said Estrada.
The executive defines the current moment to be "different", derived from a "agronomic success" - not a problem, which resulting in overall high supply of global agricultural commodities .
Bayer's efforts in Brazil continue to be at the seeds market, where the multinational gained relevance after some acquisitions in Latin America, focused on soybeans. In 2010, the company purchased CVR, SoyTech, Melhoramento Agropastoril, Wehrtec, and CCGL in Brazil, besides buying FNSemillas, from Argentina, and Granar, from Paraguay.
New acquisition could happen in the near future, but according to Rafael Villaroel, business operations director in Brazil, the key cycle of negotiations was concluded. Bayer's proposal continues to be its new transgenic soybean varieties for the 2016/2017 crop, which will come to the market under the Credenz brand, already launched in the United States.
Bayer has been working to create new soybean cultivars captained by the gene Liberty Link. The gene brings herbicide tolerance to plants, and was approved since 2010 by the National Technical Biosecurity Commission (CTNBio), but was not yet introduced in Brazil because the company awaited for Chinese approval, only released in December of 2014.
The Liberty herbicide still needs an approval of the Brazilian government. "But [this registration] is for an expanded use, that we really want quick." said Estrada.
The company has launched a collaborative digital platform to gather farmers, cooperatives and distributors to exchange the information of the sector in Brazil. The initiative, called Rede AgroServices, will receive an investment of R$ 100 million in the first year.
Source: AgroNews
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