Brazil OKs Mitsui/BASF insecticide deal
Brazilian competition authorities have approved a deal in which BASF will develop and market a Mitsui Chemicals Agro-developed insecticide. The Brazilian economic defence administrative council, the Cade, has given the green light following an agreement covering an insecticide code-named MCI-8007. The product would be for use on leafy vegetables, cereals and other crops. Mitsui licensed the insecticide to BASF for global development earlier this year (Agrow No 690, p 2). The council justified its decision, noting the company’s “low participation” in the market, and that Mitsui does not sell insecticides directly in the national market. The partnership “would not result in concentration or a change in the present market structure”. The insecticide is expected to be introduced onto the market within seven years.