LongPing High-Tech is investing USD 100 million to grow its presence in Brazil, where it is also lauching new products, according to executives at the Chinese seed company.
The company, which engages in the development, planting and packaging of seeds, has two industrial facilities in Brazil. One is in Paracatu, Minas Gerais state, and the second is in Primavera do Leste, in Brazil’s top grain state of Mato Grosso.
Brazil Chief Executive Aldenir Sgarbossa told Reuters in an interview that LongPing High-Tech Agriculture Co Ltd’s Brazil office will lead an international expansion.
The Brazilian unit of LongPing already oversees its international operations in the United States, Paraguay, Argentina and Chile, among others, he said.
“Internally, we say we are doing in one-and-a-half-year something that needs 10 years to get done,” Sgarbossa added.
LongPing is preparing the commercial launch of a new sorghum seed aimed at Brazilian farmers next January, while also working to adapt a Chinese soy seed to Brazilian conditions that could be launched by the 2025/2026 crop season, the executive said.
LongPing’s plans for the Brazilian market, where it sells products under the Morgan and Forseed brands, means fiercer competition for rivals like Bayer and Corteva.
In the future, corn will be LongPing’s No 1 seed platform, soy second and sorghum third, Sgarbossa said.