The Indian agri-chemical company, UPL announced a partnership with US-based Bunge on June 30 to support farmers in Brazil's Mapitobapa region. The partnership will create a new company, Origeo, the Indian firm said in a press release.
Origeo will offer integrated, end-to-end products, services and consulting for farmers covering agricultural inputs, services, financing solutions and technical support.
The agreement is subject to customary closing conditions, including regulatory approval by the Administrative Council for Economic Defense (CADE) in Brazil.
Orígeo’s offerings will include seed, pesticide, biosolutions and fertilizer inputs; crop-planning assistance; agronomical advice; consulting on sustainability and regenerative and low carbon agriculture certification; agricultural financing solutions; and harvest marketing and logistics services.
"By developing, promoting, and launching sustainable solutions, including bio-solutions, we’re empowering farmers to become environmental champions based on sustainable practices, including carbon soil sequestration to reduce atmospheric CO2," said Rogerio Castro, CEO of UPL Brazil.
The company will also offer farmers digital agriculture services, including real-time information, recommendations and alerts using satellite-collected field data to improve decision-making and business efficiency.
"We want to simplify processes and make operations even more efficient so that farmers have more time to focus on what they do best - produce more and sustainably," said Rossano de Angelis Junior, Vice President of Bunge, Brazil.
Bunge, headquartered in St. Louis, Missouri, is world’s leader in oilseed processing. Its is a producer and supplier of specialty plant-based oils and fats.
The UPL stock was trading about a percent lower on BSE at Rs 638.4 at the time of writing this copy.