Syngenta looks to China s farmers for growth ahead of mega-IPO
By Dominique Patton
Reuters
WEI COUNTY, China (Reuters) - Agrichemicals giant Syngenta Group is rapidly expanding its rollout of farm services in China ahead of a huge stock market listing, as it seeks to meet surging demand from farmers crucial to Beijing s increasing focus on food security.
The world s biggest crop-protection maker and No. 3 seed supplier says it is boosting grain yields and raising farmers incomes just as the pandemic fuels government worries about food supplies and pushes up the cost of key farm materials.
That means opportunity for Swiss-based, Chinese-backed Syngenta to grab market share in a fragmented farm chemicals market, positioning the company for growth as Chinese farmers expand their holdings.
Hybrid Seeds Market worth $34 9 billion by 2026 - Exclusive Report by MarketsandMarkets™
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Syngenta Gets Go-Ahead for USD10 Billion Shanghai IPO
yicaiglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yicaiglobal.com Daily Mail and Mail on Sunday newspapers.
Hybrid Seeds Market worth $34 9 billion by 2026 - Exclusive Report by MarketsandMarkets
finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
c0f173f6-d570-11eb-8921-c363d46ef7af image hires 153802
Liu Ligang, a farmer from Weixian county in the northern Chinese province of Hebei, was prepared to give up growing crops in 2018, just three years after he began leasing 160 mu (10.7 hectares) of land at an annual cost of about 128,000 yuan (US$19,800).
“I kept losing money, the output failed to increase. I was already thinking about returning the land and didn’t want to plant any more,” Liu said as he sat in a conference room owned by ag-tech giant Syngenta Group China in Weixian.
However, his attitude changed when a team of agriculture specialists affiliated with Syngenta approached him three years ago, assessed his land and offered him customised seeds, herbicides, fertilisers and support services.