German chemicals giant BASF invests more than 200 million Euro to boost the production of several key fungicides, including F 500 and Xemium in both the US and Germany. This investment, one of the largest of BASF's Crop Protection division division in recent years, is a reaction to an expected rising demand for these substances, company speakers explained.
Sparks, Georgia/USA – “We continue to expect strong market demand for our portfolio of innovative products in the future. That is why we increased the estimated peak sales potential of our pipeline to € 2.8 billion earlier this year,” said Markus Heldt, President of BASF's Crop Protection division. “These investments will help to increase our operating efficiency and flexibility, so that we can continue to contribute to sustainable agriculture through our innovative solutions for farmers around the world.”
Billion Euro Sales For Fungicides Expected
F 500 is BASF's top fungicide and forms the backbone of the company's fungicide portfolio, including the AgCelence brand which delivers products that improve plant health and help crops better manage stress and resources. The estimated peak sales potential for F 500 was raised to more than €1 billion earlier this year.
Xemium is a next generation fungicide and, since its initial launch in late 2011, has quickly established itself as a product with blockbuster potential, the company explains. It is being sold in combination with F 500 and azoles for controlling a broad spectrum of critical plant diseases. BASF aims for a peak sales potential of more than €200 million with Xemium, based on planned global launch plans in more than 50 countries for over 100 crops.
Potentials for Crop Protection and Fungicides in Asia
Crop protection and agrochemicals face huge demands in Asia, where the emerging markets and a growing population drive the need for these products. Not only foreign, but also domestic industries profit from this development. A new report by AM Mindpower suggests the crop protection industry in Asia has grown at a CAGR of 8.2 percent over the past few years due to the increasing population and government initiatives to support and increase the agricultural production to meet the requirement for food products in the region. More in Crop Protection and Agrochemicals Profit from the Rise Of Asia.