Mitsubishi Corp to sell agrochemicals in India

Mitsubishi Corp has entered into an agreement with Indian Farmers Fertiliser Cooperative Limited (IFFCO) based in India to establish a local enterprise for the sale and distribution of agrochemicals in India.

The new company, IFFCO-MC Crop Science Private Limited (IFFCO-MC), will see IFFCO holding 51% of shares and MC holding 49%. IFFCO has built up a highly respected national brand as India's largest producer and distributor of fertilizers, delivering high quality fertilizers needed by farmers through their nationwide Cooperative Society network. IFFCO-MC will be seeking to leverage the strength of the IFFCO brand and its extensive sales network to supply a number of agrochemicals, mainly herbicides, insecticides and fungicides, to the Indian market, starting in October of this year. The establishment of IFFCO-MC as a partnership between IFFCO and MC is the product of years doing business together and developing a positive working relationship.

The size of India's agrochemicals market is valued at some 250 billion yen in 2014 and accounts for about 5% of the global total. As its population increases and as daily food consumption patterns evolve, this volume is expected to continue showing robust growth, and is projected to reach a value of approximately 350 billion yen in fiscal year 2017.

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