Sumitomo Corp. recently has acquired a specialty fertilizer business from Sipcam Oxon Group’s French unit, through Sumitomo subsidiary Sumi Agro Europe (SAE), which holds distribution companies that make crop-protection products in Europe.
With this deal, Sumitomo aims to expand its market reach in France's grains segment, known for its high fertilizer consumption. The acquisition will allow SAE to widen the marketing of its specialty fertilizer for wheat and other grains, as well as corn.
The European market represents $13.9 billion in the global crop-protection market, with France accounting for $2.9 billion of that. Expanding into the specialty fertilizer business is also one of SAE’s strategies in Europe -- a strategy that already has achieved success in Romania and Bulgaria.
As for crop protection, with the global market totaling $56.7 billion, the European market is where Sumitomo’s crop-protection business began in earnest in the 1970s with the export of crop-protection products produced by Japanese manufacturers. After adopting a strategy of intensifying its efforts downstream in the value chain, Sumitomo extended its distribution business to more than 30 countries in the Americas, Europe and elsewhere. Sumitomo plans to accelerate its efforts to construct a distribution organization boasting annual sales in the $1.2 billion range.
More Stories
- CALIFORNIA DEPARTMENT OF FOOD & AGRICULTURE: CDFA Announces one Vacancy on the Citrus Pest and Disease Prevention Committee
- AMERICAN FARM BUREAU FEDERATION: Support Ag Literacy Through the AFB Foundation for Agriculture’s Online Silent Auction
- AMERICAN FARM BUREAU FEDERATION: Farm Bureau: Members Accept Leadership Roles on National Committees
- CALIFORNIA DEPARTMENT OF FOOD & AGRICULTURE: CDFA Office of the Farm to Fork Invites Application for 2021 Farm to School Grants
- CALIFORNIA DEPARTMENT OF FOOD & AGRICULTURE: CDFA Awards Funding to Support Agricultural Education and Leadership Opportunities as part of the Calag Plate Program
- AMERICAN FARM BUREAU FEDERATION: AFBF Welcomes Nomination of Katherine Tai for U.S. Trade Representative
- CALIFORNIA DEPARTMENT OF FOOD & AGRICULTURE: CDFA Announces Vacancies on Feed Inspection Advisory Board Technical Advisory Subcomittee
- AMERICAN FARM BUREAU FEDERATION: AFBF Stands-Up for Farmers in Predatory Shakedown
- CALIFORNIA DEPARTMENT OF FOOD & AGRICULTURE: CFDA Issues Stop Use Notice and Statewide Quarantine on Organic Fertilizer AGRO Gold WS
- AMERICAN FARM BUREAU FEDERATION: Registration Open for American Farm Bureau Virtual Convention, Featuring Mike Rowe, Rorke Denver and Beth Ford