Corteva eyes rice, corn opportunity in India

Corteva Agriscience, a US-based agriculture chemicals and seed firm, is looking to tap an opportunity in rice, corn, fruits and vegetables in India.

The firm will focus on the hybrid rice seed market keeping in view the sharp increase in the market. The firm, however, is aware of the preferences of the local users.

“It’s hard to explain to somebody in corn or wheat space about the nuances of rice in terms of taste and texture. That makes it more difficult when we think about hybrid rice,” Peter Ford, President (Asia Pacific) of Corteva Agriscience, told BusinessLine.

He added, “We are on that journey (in developing hybrids that can go well with consumers) and progressing. We’ve also entered into collaborations with other entities.”

The collaboration includes a five-year pact to share germplasm with an intent to crack consumer preferences for taste and texture. The collaboration in sharing germplasm is aimed at increasing the probability of outcomes for farmers and communities.He said that research and development in rice is not only centred around the Indian market but also targetted at the tropical and sub-tropical Asian markets.

He said that deploying technologies like artificial intelligence would help in conducting the research and development activities and save time in product development. “It can help us in analysing huge volumes of data in a shorter period of time,” he said.

“We’re working on our own manufacturing footprint for global supply chains as well as working with a number of Indian companies,” he said, when asked about future plans for the country.

Global supply

He said that the Covid-19 pandemic could have a lasting impact on global supply chains for all chemical products, including agrichemical products.

“India may benefit in the long run by leveraging this shift and attracting greater investments (including foreign investments) and emerge stronger post Covid-19,” he said.

“A stable and predictable policy and regulatory regime is key to this shift. It is critical that the government and regulators view the manufacturing of agro-chemicals from technical to formulations and import in a seamless manner,” he said.