Sumitomo Acquires Fungicide Metominostrobin from Bayer CropScience Japan

Date:04-11-2014

Tokyo-based Sumitomo Corporation recently announced the acquisition of agricultural crop protection fungicide Metominostrobin from Bayer CropScience Japan. The deal was made through Summit Agro International, a subsidiary of Sumitomo Corporation (SC).

Metominostrobin is a broad-spectrum, systemic fungicide with preventative and curative activity. It is especially potent on soybean rust, which can seriously damage soybeans.

Sumisho Agro's acquisition of this fungicide includes distribution and marketing rights for all markets with the exception of sales and development of Metominostrobin as well as its dossier for risk assessment in Japan, which will be retained by Bayer CropScience Japan.

“Sumisho Agro aims to sell several billion yen globally of the product by 2020 through increased global promotion of Metominostrobin. In addition, Sumisho Agro will proactively engage in the development of the mixture of new compounds to expand the application of the product.” the company noted.

Metominostrobin has already been registered as a Crop Protection product in Argentina, one of the world's largest soybean producers as well as other Latin American countries including Columbia, Ecuador, Peru and Bolivia. Additionally, it has been registered for crop protection usage in Asia, including Vietnam, the Philippines, Malaysia and Indonesia, and in Israel, where demand for fruits and cereal crops is significantly increasing. Metominostrobin is in the process of being registered in Brazil, the world's second largest soybean producer, through Iharabras, which Sumitomo Corporation has equity participation.