April 28, 2011
Syngenta Plans Major Expansion in Brazilian Ag Sector
The giant chemical and seed company Syngenta is planning for a major expansion in the Brazilian market. Company officials are expecting at least a 10% increase in Brazilian sales in 2011 and maybe even more in 2012. Brazil already represents 14% of the company's worldwide sales making Brazil its number one market. The company maintains a 20.9% market share in Brazil with aggressive plans to increase that even further. The company feels that Brazilian farmers will be well capitalized after a record production in 2010/11 coupled with strong commodity prices.
The company is planning to introduce 32 new chemical and seed products in Brazil over the next few years. They already market seeds of soybeans, corn, fruits, and vegetables, and they are considering selling seeds for sunflowers, cotton, and sugarcane. The company has been researching new sugarcane varieties in Brazil since 2008.
The company also plans to invest US$ 100 in the construction of three new production facilities until 2013.