Sumitomo and BASF to develop new fungicide
Japanese company Sumitomo Chemical and German firm BASF have entered a collaboration agreement to enhance and commercialise a new fungicide.
The collaboration is expected to leverage the technical knowledge and expertise of both companies to deliver a novel fungicidal compound for the farmers.
Discovered by Sumitomo Chemical, the compound has exhibited high-efficacy to control major plant diseases. It has also shown substantial effectiveness against the diseases, which were reported to have developed resistance against available fungicides.
Sumitomo Chemical representative director and senior managing executive officer Ray Nishimoto said: "Together with BASF, we will be able to provide more growers with the opportunity to experience the benefits of this new fungicide, which will play an important role in the resistance management of serious plant diseases.
"Through this partnership, we show our commitment to sustainable agricultural production."
The fungicide is expected to protect crop yields especially in the regions where fungicide options are limited.
BASF’s Crop Protection division president Markus Heldt said: “Farmers want to grow healthy crops and sustainably supply the increasing demand for food and fibre.
"This strategic cooperation between BASF and Sumitomo Chemical demonstrates the two companies’ commitment in investing in solutions to help farmers manage their business."
Under the agreement, both companies have planned to separately develop unique formulations of the new compound to enhance their respective portfolios.
Commercialisation of the unique formulations across the world will commence after the respective company procures the regulatory approval from relevant authorities and registration of the product.
Registration submissions of the products are expected to start from next year. Detailed terms and conditions of the agreement have not divulged by the company.
Image: Tokyo Sumitomo Twin Building in Chuo-ku, Tokyo, Japan. Photo: courtesy of 663highland via Wikipedia.