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BASF constantly evaluating new business opportunities
Oct. 25, 2016
BASF Agricultural Solutions
GermanyFollow
GermanyMr. Gustavo Portis, Director of Argentina, Uruguay, Paraguay and Bolivia, said the company will continue to invest in research and development, in an interview to BASF Agro. He also said that the company was looking for new business opportunities, despite mergers and acquisitions in the world industry of pesticides, fertilizers and seeds. It was recently published by an Argentinian newspaper.
Mr. Portis shared his optimism for agricultural development in the current crop season, despite crop prices and markets not having their best times. He also explained that the company has seen a major shift in the last year due to an increase in wheat and corn cultivation, which helps in the enhancement of agriculture, crop rotation, sustainability and overall development of the economy.
BASF estimated that the agrochemicals and seeds industry are having a transition period to take investment decisions, because organizations have been facing new market dynamics that is promoting a new business model.
However, the first statistics in local industry showed that there was a change in the fertilizers and seeds markets due to an increase in the cultivation of wheat and corn, with the first half of the year showing less than 3% in sales compared to the previous year. But it could be assumed that the number will end up being positive at the end of the year.
Mr. Portis believed that the phenomenon of resistant weeds suddenly emerged and in a short period, their population increased from 2 to17 and hence the industry could not lose focus. He said that three years ago, companies and farmers were worried about this situation, because it had an impact on the technical management. But Argentina had a very dynamic agricultural sector and now farmers have the basic knowledge and required tools to manage this situation.
BASF's strategy also enabled the farmers to receive support from their team of technicians to tackle the problem of resistant weeds. They have also suggested 20 herbicides with nine different types of action. They were convinced that the solution was to have good agricultural practices, crop rotation, the selection of herbicides such as emergents and pre-emergents with alternative modes of action, and mixing of products to obtain sustainability in production.
He also explained that BASF was continually evaluating business opportunities as the world's largest chemical group to buy companies, molecules or a particular segment. They have invested 2,000 million euros in research and innovation, and 30% of the research and development is devoted to agriculture. They have a portfolio with more than 30 molecules. In their last global report, they have launched products that will add more than 3,000 million to their revenue of 5.8 billion euros from 2015 to 2025. Their goal is to bring a complete portfolio of solutions, herbicides, insecticides and seed treatments closer to customers to connect them with innovative centers.
Source: AgroNews
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