Argentina's Bioceres expands global seed tie-up with Syngenta

Bioceres Crop Solutions

16/09/2022 19:14

BUENOS AIRES, Sept 16 (Reuters) - Argentine seed technology
firm Bioceres  BIOX.O  said on Friday it had agreed to expand
its collaboration with Swiss seeds and pesticides maker Syngenta
to develop and market its biological seed treatment solutions
globally.
    The deal between the two firms, which already partner in
Argentina, would see Syngenta become the exclusive commercial
distributor of these products globally and work on research and
development of new products with Bioceres.
    Bioceres develops biological products that help improve crop
nutrition and cut down the need for nitrogen fertilizers. It
also has a range of drought-resistant crops, though they will
not be part of the deal.
    Syngenta, which is planning a $10 billion initial public
offering, was bought in 2017 for $43 billion by ChemChina, which
was folded into Sinochem Holdings Corp last year.
    Bioceres said the two firms would expand their cooperation
in markets such as Brazil and China, as well as other regions
around the world.
    "Biological products play an important role in offering
growers new solutions to increase crop yields while reducing
agriculture's environmental footprint," Bioceres Chief Executive
Officer Federico Trucco said in a statement.

 (Reporting by Maximilian Heath; Writing by Adam Jourdan;
Editing by Leslie Adler)
 ((adam.jourdan@thomsonreuters.com; +54 1155446882; Reuters
Messaging: adam.jourdan.thomsonreuters.com@reuters.net))