DuPont sets sight on Myanmar farming

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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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. 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...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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