Mahindra Summit Agriscience launches new Soil Care product under ‘PRAKRTI by Mahindra’ brand
Best suited for Sustainable and Organic agriculture
Mumbai: Mahindra Summit Agriscience Ltd, a joint venture between Mahindra Agri Solutions Ltd. (MASL) and Sumitomo Corporation Group, Japan, today launched a new product range for sustainable & organic agriculture under the “PRAKRTI by Mahindra” brand name.
The company will offer commercially viable, biological and organic products that promote sustainable agriculture. To begin with, Prakrti will offer high quality microbial products in the plant nutrient, insect & disease management categories. These products ensure residue free fruits and food grains, which in turn will boost Agri exports from India.
Speaking about the new product range, Ashok Sharma, Managing Director and CEO, Mahindra Agri Solutions Limited said, “We are delighted to launch Prakrti by Mahindra, our new range of sustainable agriculture products. These products will be highly effective in improving the depleting health of our soil and enhancing yield, thereby meeting the increasing demands of a growing population in our country.”
Mr. Sharma further added, “At Mahindra Summit Agriscience we want to stay true to our promise of providing world class crop and soil care solutions, which will significantly reduce crop damage. This will be a step toward our vision of Farming 3.0, a new age in farming, one that elevates the entire Agri ecosystem. Going forward we will keep enabling Indian farmers and accelerate their access to innovative solutions in terms of technology and products which would increase their income.”
‘Prakrti by Mahindra’ is a result of the expertise of both companies – Mahindra’s strong understanding of the Indian farming community and Sumitomo’s unique know-how and Japanese technology. Through this new initiative, the company will enable access to the latest global technology for minimising crop and soil damage and increasing yields.
Today, India loses nearly 40% of its total crop production in terms of value to pest attacks and diseases. Since per capita land availability in India will only decline over time, farmers will have to raise their agricultural production by improving productivity. Hence crop and soil protection products are an important input for facilitating pre & post-harvest land management.
The current estimated consumption of crop protection products in terms of value is around US$ 2.5 billion and this is expected to grow at 7% annually over the next few years. With such huge market potential and few organized players in this space, Mahindra Summit Agriscience Limited has significant potential to revolutionise the crop protection business in India.
About Mahindra Summit Agriscience Ltd.
Initiated in 2005, Mahindra’s Crop Care product portfolio comprises Insecticides, Fungicides, Herbicide, Biological products and water-soluble fertilizers. Since 1992, Sumitomo Corporation had
started investing in the crop care distribution channel and currently has presence in 33 countries. In 2018, Mahindra Summit Agriscience Limited, was incorporated in October 2018, after Mahindra Agri. Solutions Ltd. (“MASL”), entered into a definitive agreement with Sumitomo Corporation, Japan (“SC”) to form a joint venture to be held 60% by MASL and 40% by SC.
The partnership has resulted in a strong future product pipeline with access to new generation of molecules produced by the large Agro-chemical R&D houses from Japan. The combined strength of both shareholders should leapfrog Mahindra Summit into the next orbit of growth by leveraging Mahindra’s Trust and Japanese Technology.
The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.
Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise
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