DuPont sets sight on Myanmar farming

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dupontUS-based chemical company DuPont wants to enter the agricultural sector in Myanmar by assisting local farmers after it opens its office in the country in the fourth quarter of 2013.

Through the office, DuPonts plans to distribute products to farmers such as crop protection chemicals and seeds. The company said it also wants invest in sustainable energy in line with Myanmar’s plans to build more power plants.

Currently, as much as 40 per cent of Myanmar’s GDP still comes from agriculture, while 80 per cent of the population lives in rural areas and earns a living by farming an average of two hectares of land. Their main problems are poor infrastructure and almost no access to loans or funding.

Internal transport costs in rural areas in Myanmar are five times higher than in Thailand and 20 times higher than in China, and credit is mainly provided by informal lenders at interest rates at above 10 per cent, which is why the Myanmar government now is embarking on establishing an infrastructure for microfinance.

DuPont is one of the largest chemical companies worldwide. Its revenue stood at $34.8 billion in 2012, of which 34 per cent came from emerging markets. Agriculture contributes the greatest share of company’s revenue, with $10.4 billion of net sales in 2012, up from $9.17 billion in 2011.

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Reading Time: 1 minute

US-based chemical company DuPont wants to enter the agricultural sector in Myanmar by assisting local farmers after it opens its office in the country in the fourth quarter of 2013.

Reading Time: 1 minute

dupontUS-based chemical company DuPont wants to enter the agricultural sector in Myanmar by assisting local farmers after it opens its office in the country in the fourth quarter of 2013.

Through the office, DuPonts plans to distribute products to farmers such as crop protection chemicals and seeds. The company said it also wants invest in sustainable energy in line with Myanmar’s plans to build more power plants.

Currently, as much as 40 per cent of Myanmar’s GDP still comes from agriculture, while 80 per cent of the population lives in rural areas and earns a living by farming an average of two hectares of land. Their main problems are poor infrastructure and almost no access to loans or funding.

Internal transport costs in rural areas in Myanmar are five times higher than in Thailand and 20 times higher than in China, and credit is mainly provided by informal lenders at interest rates at above 10 per cent, which is why the Myanmar government now is embarking on establishing an infrastructure for microfinance.

DuPont is one of the largest chemical companies worldwide. Its revenue stood at $34.8 billion in 2012, of which 34 per cent came from emerging markets. Agriculture contributes the greatest share of company’s revenue, with $10.4 billion of net sales in 2012, up from $9.17 billion in 2011.

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