Jun. 30, 2020
• Newly announced collaboration will facilitate the development and commercialization of a new non-GMO rice production system for the Chinese agricultural market
• Partnership to leverage both companies’ strong innovation capabilities and leading positions in their respective areas
Shanghai, China – June 30, 2020 – BASF and Yuan Longping High-Tech Agriculture Co., Ltd. (Longping High-Tech) formed a partnership to co-develop and commercialize a new non-GMO rice production system designed to boost agricultural productivity for farmers in China.
“We are pleased to be partnering with Longping Hi-Tech to provide growers in China with access to our world-class technology,” said Jonathan Bryant, Vice President, Global Strategic Marketing, Seeds and Traits, BASF Agricultural Solutions. “Partnering with the market leader in rice seed technology in China will allow us to further expand our growing seeds and traits business.”
Dr. Ma Dehua, Vice President of Longping High-Tech, said, “As the leading seed company in China, Longping is pleased to be partnering with an innovation-driven company like BASF. We believe this win-win cooperation will strengthen our top position in the rice market. In the long run, we hope this cooperation with BASF can be extended to enhance our technology and position in other crops.”
China is the world’s leading producer of rice, and one of the world’s largest markets for agricultural technology, with more and more farmers adopting advanced practices to increase both productivity and sustainability. Jackson Wang, Head of BASF’s Agricultural Solutions business in China, said, “BASF aims to bring more innovative technologies to the market that are specially tailored to the needs of Chinese rice farmers. This is in line with our new global strategy – which includes a strong focus on supporting rice farmers in Asia. This new partnership with Longping High-Tech will enable us to do this more successfully.”
Both BASF and Longping are leading innovators in the agricultural industry. BASF spends nearly €900 million each year in research and development on new agricultural technology, representing more than 11% of the total revenue from its agriculture business. Long Ping High-Tech’s investment in research and development represents similarly more than 10% of its sales revenue.
“We are committed to leading the continuous development of the seed industry to benefit the world population,” said Dr. Ma. “Innovation is the core advantage of Long Ping High-tech, which supports the development of abundant varieties of excellent quality rice products as well as strong technical service. To further contribute to agricultural development, we intend to work with partners such as BASF to co-develop new technologies that benefit growers.”
About Longping High-Tech
Yuan Longping High-tech Agriculture Co., Ltd. (“Longping High-tech”), adhering to the great dream and innovative spirit of Academician Yuan Longping, the “Father of Hybrid Rice”, strives to fulfill the mission of “Progress the seeds, Benefit the world”. Its main business covers two major parts: seed operation, such as hybrid rice, corn, vegetable, millet, edible sunflower seed, and agricultural service. In 2019, Longping generated sales of 3.13 billion RMB. Its headquarter locates in Hunan Province, China, and it has several R&D bases and global marketing networks in South-east Asia, South Asia, North America and South America. Meanwhile, it provides agriculture technology and service in more than 100 countries and regions around the world. Longping’s stocks are traded on the stock exchange in Shenzhen (SZSE). For more information at www.lpht.com.cn.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 117,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2019. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com.
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