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Bayer's barter operations jump 300% in H1 2015 in Brazil
Aug. 28, 2015
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BrazilMarc Reichardt, global head of commercial agricultural operations said that due to the producer's cash problem and the volatility of commodities, it has become essential to fund plantations and ensure investments in technology in crops. "This was a big increase. We would like that the financial system to bear with the crop's costs, and not us. This is not our business," said Rechardt.
The tightening scenario also affected the availability of resources with interest rate subsidies on Harvest Plan 2015/16, which made Bayer CropScience go more aggressively on the business of "barter" to fund planting beans which will start in mid-September in the country.
In 2014, Bayer already have had 40% of its sales for input distributors through barter operations, level already higher than the previous four years. The company preferred not to release its total estimates for 2015, not only with the distributors but also in general.
According to Reichardt, countries like Ukraine and Russia also use "something" of barter deals. However, the former president of Bayer CropScience for Latin America (2006 and 2013) highlights that in this countries the period of financing is shorter: "In Brazil, the crop investment is too long".
Source: AgroNews
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