Milenia to extend barter for agchems
Makhteshim-Agan Industries’ Brazilian subsidiary, Milenia Agrociencias, views an increase in barter as a means for Brazilian farmers to acquire its pesticide products, business daily DCI reports. Rising grain prices are behind the move. It is looking to raise the share of its sales through barter arrangements from the current 15-20% to 30%, the newspaper reports. It quotes Milenia’s director of strategy and planning, Luiz José Fraga Moreira Traldi. He believes the pesticide market is “about to enjoy another strong period”. Mr Traldi expects the 2010 Brazilian agrochemical market to have risen by 5-10% on the 2009 market. Milenia operates a barter system for US dollar-denominated crops, such as coffee, cotton, maize, rice, soybeans, sugar cane and wheat. Several crop prices have hit new highs in the past month, such as cotton and wheat.