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Mahindra unit forms farming solutions JV with Sumitomo

Mahindra Agri Solutions Ltd., a subsidiary of Indian carmaker Mahindra & Mahindra Ltd., and Japanese trading company Sumitomo Corp. have formed a joint venture that will offer pest management solutions for farmers, according to an Oct. 12 announcement.

Mahindra Agri will hold 60% of the new company, called Mahindra Summit Agriscience Ltd., with Sumitomo taking the remaining 40%.

The new company is expected to reduce crop damage. It will offer products for pest and insect management for Indian farmers as the country loses nearly 40% of its total production value to pest attacks and diseases, according to the release.

The JV will take advantage of Mahindra Agri's rural presence, domestic distribution and agriculture expertise, as well as Sumitomo's technologies and partnerships with large Japanese crop protection innovator companies.

Mahindra Agri already offers crop care products including insecticides, fungicides, herbicides, biological products and water-soluble fertilizers. Meanwhile, Sumitomo has started investing in crop care distribution channels.