Sumitomo, Summit Agro Establish Unit in India for Agchem Trade

Sumitomo Corp. and Summit Agro International Ltd. announced it established a local subsidiary, Sumisho Agro India Private Limited, in Mumbai to undertake agrichemical trading activities in India.

“India is the world’s second-largest producer of agricultural products, and its agrichemical market is now on the order of 300 billion yen (ranking 5th worldwide in 2016), growing at the rate of annual 7%. At the same time, it continues to gain in status as a supplier of agrichemicals products such as technical grade of active ingredients. There is considerable room for improving yield per unit area in India’s crop production, and growing needs for safe and efficient crop production are expected to drive an expansion of its agrichemical market,” according to a Summit Agro statement.

Primarily responsible for registration, holding and development functions for safe high-quality new products from Japanese agrichemical manufacturers, the Indian subsidiary will concentrate on maximizing the sales of such new technology brought from Japan. It will also enhance its functions as a strategic partner for Japanese agrichemical manufacturers by stepping up its procurement of raw materials from within India, the company said.

The Indian business functions that had for the most part been provided by Summit Agro from Japan, will enable more rapid responses to changing needs. By supplying locally-procured goods via the Sumitomo Corporation Group’s network, one of Summit Agro’s key assets, the Indian unit will aim to further exhibit its presence in the Asian agrichemical market.

Demand for food in the Asian countries, including India and Southeast Asia, is expected to surge with economic development and population increases, making it essential to improve agricultural productivity. Improved agricultural productivity will directly lead to higher revenues for Asians whose livelihood is agriculture, and help alleviate the impact of the uncertainties (weather, etc.) facing agriculture.

The Sumitomo Corp. Group has positioned Asia as the third important region after Europe and the Americas for its agribusiness network, and has been steadily adding up business functions across Asia.

Topics: , ,

Leave a Reply

Asia

Americas

Trump Tariffs on Chinese Imports to Begin Sept. 24

Starting Jan. 1, 2019, the level of the additional tariffs will increase to 25 percent.

Pam Marrone
Asia

Marrone Enters Distribution Partnership in Vietnam, Cambodia

Key factors driving the rapid adoption of biologicals in Vietnam include pesticide residue problems in agro-products for local consumption, new requirements for Maximum Residue Levels on agro-products imported to the EU and U.S., and a growing number of banned pesticides.

vietnam flag
Asia

Vietnamese Government Encouraged to Embrace Ag Innovation

"We call on the government to ensure that crop protection tools are properly assessed through a consistent, scientifically rigorous process in line with internationally accepted methods and standards."

Asia

Cargill Looks to Crop Enhancement Inc. in Indonesia

Indonesian cocoa growers in Cargill’s extensive network are eager to expand their use of this effective, farmer-friendly solution that reduces the need for synthetic pesticides.

Flag of China
Asia

Agriculture in the U.S. and China: The Present and the Future

In part because of current events involving a high-profile trade dispute, agriculture in the U.S. and China has been thrown

Asia

Small Steps Are the Way for Sulphur Mills

While China’s industry deals with a difficult transformation, and India eyes the opportunity, the nuances of the situation can’t be overlooked. India is grappling with its own set of challenges

Asia

A Unique Advantage for Anupam Rasayan India Ltd.

Gujarat-based Anupam Rasayan is working its status as a custom manufacturer that operates independently of Chinese materials to its maximum advantage.

Agrichemicals

Hedge Hurts ADAMA Profit, While Sales Rise

The past two quarters have seen the beginnings of a recovery in demand for crop protection products in many markets, despite ongoing low soft commodity prices and farmer income.

Agrichemicals

Sourcing Agchem from China: An Outlook that Demands Strategic Planning

C S Liew, Pacific Agriscience Pte Ltd, Singapore, examines the repercussions of the Chinese environmental crackdown and sourcing at the 2018 Trade Summit held in Phoenix, Arizona.

Agrichemicals

Is India a Future Manufacturing Hub for Agrichemicals?

The changing scenario in global trade has made a significant impact on agrichemical business in India. Although the country is

Asia

India’s Hemani Industries Forges New Partnerships

“I think customers are tired of having so much inconsistency in supply. There’s a mystery of what’s going to be available and what’s not, so they want to go into a partnership so they’re assured of supplies, and hopefully, prices.”

Asia

Tariff Wars Promise New Pain for Agriculture Come October

According to the calendar, the current tariff war between the U.S. and China began in early July. However, according to

Asia

Live from Trade Summit: No Reprieve for China’s Agchem Producers

Dr. Wayne Tan of CAC Group talks outlook for China's agchem companies amid the country's environmental crackdown.

Agrichemicals

Platform Confirms Arysta Sale to UPL, to Change Name

Platform has signed a definitive agreement to sell Arysta LifeScience Inc. to UPL Corporation Ltd. for $4.2 billion in cash, subject to customary closing adjustments Closing

Asia

Crop Protection Key to Doubling Indian Grower Income – Report

Despite all its achievements, Indian agriculture is still grappling with challenges like high monsoon dependency, unpredictable weather patterns, reduction in arable land, low per hectare yield, and lower farmer incomes.

Asia

Ning Replaces Ren as Syngenta Board Chair

Jianxin Ren, Chairman of the Board of Directors of Syngenta AG, has retired from the company's board.

Agrichemicals

Hemani Industries Launches Branded Formulation Division

Hemani Industries Limited, serving international agrichemical customers for more than three decades, has launched its branded formulation division to serve

Indian-farmers
Asia

From Plate to Plough: India Must Get its Agri-Markets Right

With the overarching concern for food security of 1.32 billion people, India’s policymakers have a challenging task, according to an

Asia

China Expects More Agricultural Imports from Europe

China is expanding trade ties with Europe by increasing imports of agriculture goods in a move that experts say won’t

Latest News

Americas

Trump Tariffs on Chinese Imports to Begin Sept. 24

Starting Jan. 1, 2019, the level of the additional tariffs will increase to 25 percent.

Asia

Marrone Enters Distribution Partnership in Vietnam, Cambodia

Key factors driving the rapid adoption of biologicals in Vietnam include pesticide residue problems in agro-products for local consumption, new requirements for Maximum Residue Levels on agro-products imported to the EU and U.S., and a growing number of banned pesticides.

Agrichemicals

Bayer Outlines Vision for Future for Ag

The company intends to broadly launch FarmRise in India in 2019, with additional expansion plans in the future for Asia, Africa and South America.

Americas

DowDuPont Announces Corteva Agriscience Leadership

James C. Collins, Jr., currently chief operating officer of the Agriculture Division, will be chief executive officer of Corteva Agriscience.

Americas

Word-of-Mouth Farmer-Dealer Networks Shake Up Distribution

Now the concept’s going global as mom-and-pop dealerships sign on in a bid to boost cash flow.