Switzerland’s Syngenta is considering setting up local production facilities of crop protection products in Russia rather than relying on importing its products, the head of its Russian office said on Thursday.
Russia, one of the world’s largest wheat exporters, has boosted its grain production in recent years despite Western sanctions imposed on it in 2014 but is reliant on imports of seeds and crop protection.
“We are actively investing in Russia... We are thinking of organising our own production of crop protection products,” Jonathan Brown, the head of Syngenta’s Russian office, told a conference in Moscow.
Syngenta’s Board of Directors will decide whether to go ahead with the project in the first quarter of 2018, he told Reuters on the sidelines of the conference.
“After this (decision) we will be moving quickly,” Brown said.
Syngenta has already invested 1 billion roubles ($17 million) in research and development projects in Russia, including $2 million which it spent on an institute of crop protection this year.
The company has already told the Russian government that it is considering producing locally enough herbicide to cover 80 percent of its Russian sales by 2019. By 2021, it plans to be producing in Russia 80 percent of all the crop protection products that are sold domestically, Brown told Reuters.
Company's website: www.syngenta.com
Contact: Michel Demaré, Chairman of the Board of Directors
Syngenta AG is a Swiss company, one of the leading manufacturers of crop and seed protection products. The company was established in November 2000 through the merger of the agro-divisions of Novartis AG and AstraZeneca Plc. The company's headquarters is located in Basel (Switzerland). It employs over 27 thousand workers in 90 countries.
It is one of the largest developers and producers of GMO plants.