UPL bets on Bioplanta in Brazil in 2024

The primary focus of the Indian multinational corporation, UPL, in Brazil for the upcoming year will be the expansion of the Bioplanta factory, which it acquired in 2022 from the Chinese firm, Dakang. According to agronomist engineer Rogério Castro, CEO of UPL Brazil, the group will continue to expand its portfolio, partnerships and acquisitions of "biosolutions."

Rogério Castro, CEO of UPL Brazil

The Bioplanta unit, located in the Brazilian state of Mato Grosso, which currently has a small production capacity, will be expanded, receiving additional laboratories for the development of biologicals and biological formulations. Currently, it already produces certain solutions, such as algae-based and micronutrient-based products, but its production output is projected to grow exponentially in the coming years.

In Brazil, UPL plans to increase its current 30% share of the portfolio to 50%, to include "innovative products." According to Castro, the difficulties faced in the first half of 2023 by the input sector signaled the end of a downward cycle after the COVID-19 pandemic, the energy crisis in China, and raw material shortages. He added that the sector is reaching an "inflection point," which should be reflected in a "more positive end of the year, both from an agriculture and industry perspective, as well as the perspective of farmers."

He then stressed that 2024 will be a year of market recovery and a return to normalcy, implying "double-digit growth." To resume growth, Castro said that UPL strategically focuses on expanding its offerings of innovative and sustainable biosolution products. He revealed that UPL will invest in communication, product launches, teams, research and development, as well as its plans to purchase technologies, build laboratories and acquire a portfolio of products.

(Editing by Leonardo Gottems, reporter for AgroPages)

If you would like to share your company's story. Please contact Christina Xie at christina@agropages.com