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Sumitomo targeting Brazil for its crop-protection products
Apr. 6, 2011
Sumitomo Chemical has a goal to raise its annual sales of crop-protection products in Brazil from the present 10 bn yen ($120 mn) to 20 bn yen soon, and 40 bn yen in the near future. Having formed Sumitomo Chemical Latin America on January 1 to support its US subsidiary Valent USA in the local marketing of products like herbicides, it plans to double the new company’s sales team to 30 members.
Population and economic growth in Brazil is bolstering the country’s acreage of soybean and cotton cultivation, and the Tokyo-based company regards the market as having sales potential exceeding those of its current main markets of Japan, North America and Europe for these products.
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