UPL expands its biologics business in Brazil, poised for market recovery in 2024

 A major focus of UPL's work in Brazil next year will be the expansion of the Bioplanta plant, which it acquired last year from Hunan Dakang Agriculture & Food. Rogerio Castro, CEO of UPL Brazil, said that UPL will continue to expand its product portfolio, collaborations and acquisitions of biological solutions.

Bioplanta, located in Mato Grosso, Brazil, currently has a small capacity and will be expanded in the future to add a bioproduct development laboratory. Bioplanta already produces some solutions, such as those based on seaweed and micronutrients, and its production capacity is scheduled to grow exponentially in the coming years.

     UPL plans to increase the share of its existing product portfolio in Brazil from 30% to 50% to include innovative products. Castro said that the agricultural input industry faces difficulties in the first half of 2023, and the downward cycle after the COVID-19 epidemic, China's energy crisis and raw material shortages will end. He added that there will be an inflection point in the industry, whether from the perspective of agriculture, industry, or farmers, and the end of the year should be more positive.

Castro stressed that 2024 will be the year when the market recovers and returns to normalcy, meaning double-digit growth. To return to growth, UPL will strategically focus on expanding its supply of innovative and sustainable biosolutions. He revealed that UPL will invest in communications, product launches, teams, research and development, and plans to buy technology, build LABS, and acquire product portfolios.