Sumitomo Chemical and BASF, two of the world’s leading chemical companies, have announced a collaboration agreement for the development of a new fungicide.
The compound, discovered by Sumitomo Chemical, demonstrates high efficacy for the control of major plant diseases, according to the Japanese company – including those that have developed resistance to other available fungicides.
Ray Nishimoto, Sumitomo Chemical’s representative director and senior managing executive officer, 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.”
Markus Heldt, president of BASF’s crop protection division, added: “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.”
The companies plan to separately develop unique products with the new compound to complement their respective portfolios.
Commercialisation of the companies’ respective formulations is expected to begin following their registration and regulatory approval from relevant authorities.
Registration submissions in major markets are planned from 2018 onwards and the companies intend to make their products available worldwide.
Additional terms and conditions of the agreement were not disclosed.