Indian company UPL to invest R$1 billion in agrochemicals factory in Brazil

Brazil’s Minister of Agriculture, Livestock, and Supply Blairo Maggi signed an agreement last week with the Indian company UPL for the construction of an agrochemicals factory in Brazil. The expected investment for the unit will be some R$1 billion. The location of the factory has yet to be identified.

"You are very welcome. You can rely on government support because we need more competitiveness (in the country). An investment like this will bring more wealth and jobs for our country,” said the minister.

According to Maggi, UPL has formed a partnership with the Brazilian Agricultural Research Company (Embrapa) for the development of varieties of lentils to be grown in Brazil, mostly for export, where investment could amount to US$150 million.

"Brazil is getting ready to be the main supplier of lentils to India, which is the largest consumer (of the product) in the world. By 2030, the demand for lentils in India will be around 30 million tons (…), and for that, we’ve formed a partnership with Embrapa for the import and acclimation of seeds,” Maggi stated.

UPL is one of the leading agrochemical companies in the world, with 28 factories and five research centers. One of the units is in operation in Ituverava in the state of São Paulo, producing agrochemicals for soybeans, corn, cotton, coffee, sugarcane, and rice.