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CPDA A&I Conference 2018 Navigating through the Multi National Mega Mergers CPDA 2018 A&I Conference San Antonio, Texas Wednesday May 2 nd 2018 Dr Matthew Phillips matthewphillips13@btinternet.com Tel: +44 (0)7968 161626 May 2018 1

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CPDA A&I Conference 2018

May 2018

Navigating through the Multi National Mega Mergers

CPDA 2018 A&I Conference

San Antonio, Texas Wednesday May 2nd 2018

1 Dr Matthew Phillips matthewphillips13@btinternet.com Tel: +44 (0)7968 161626

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Disclaimer

Matthew Phillips is an independent observer of the agrochemical and seeds industries, having no affiliation to any company or data provider. The information in this presentation is based on material from many public sources and does not constitute in any way an offer for the sale of products or services. The data presented provides my best understanding at the time of preparation, but is subject to change. No liability is accepted for any loss, damage or any other accident arising from the use of this information.

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Crop Protection Market Growth

20 40 60 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 $ bn.

Improving crop prices GM maturity GM adoption GATT – low crop prices Strong oil and commodity prices High crop demand Biofuels Developing Markets Weak oil and commodity prices Brazil maturity EU CAP reform

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Regional Crop Protection Markets - Preliminary World Market $56.4 bn. up 1.0% in 2017 (-0.3% in constant dollar terms)

2016 2017

Rest Asia Europe South and Central America North America +2.0% +2.7% +5.2%

  • 4.4%

+0.3% $ growth % Constant $ growth %

  • 0.1%
  • 7.5%

+2.4% +3.6% +3.8%

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  • Low crop prices depressing farm incomes
  • In many countries this resulted in farmers adopting the lowest cost options
  • Shift to generics
  • Inventory
  • Carry over of stocks from previous years, and adoption of new products

resulting in older chemistry remaining with distributors

  • Pressure on agrochemical pricing
  • Driven by the move to lowest cost options and high inventory
  • Crop areas and weather
  • Weed, disease and pest resistance
  • GM crops
  • Uptake of Enlist, Xtend and Intacta

Crop Protection Market 2017 – Key Factors

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Company Agrochemical Sales – Calendar Year 2017

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Company Calendar $ growth 2017/2016% UPL 14.2 FMC (Pro Forma) 11.3 Isagro 10.8 Monsanto 9.1 Adama 6.7 Amvac 4.7 BASF 4.0 DowDuPont 1.0 Aceto 0.5 Platform 0.1 Syngenta

  • 3.4

Bayer

  • 3.6
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Calendar Year Agrochemical Growth 2017

Source : company reports Majors – Bayer, Monsanto, DowDuPont, BASF, FMC, Syngenta Major Generics – Adama, Isagro, Platform, UPL, Amvac, Aceto Japanese – Agro Kanesho, Kumiai, Nihon Nohyaku, ISK, Mitsui Chemical, Nippon Kayaku, Nippon Soda, Nissan, SDS Biotech, Sumitomo Chemical, Hokko Distributors – ADM, Agrium, Bunge, Land O’Lakes, Cargill

Companies Calendar 2017 % Change ($) Majors 0.6 Major Generics 7.3 Japanese 3.3 Indians 16.3 Distributors 1.5

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Traded Seed Market Growth

% Change in $ 5.1% growth (Estimate)

  • New traits/pricing
  • Increased adoption in LAM
  • Corn acreage in LAM

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  • 4
  • 2

2 4 6 8 10 12 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2002 – 2011: High average growth driven by the GM sector 2011 – 2014: Fall in average growth rate due to pressure from lower commodity prices 2015 – 2016: A declining market as a result of market pressures and falling maize area 2017P: Rise in market value from increased uptake of new technology, overall adoption and increased GM maize areas

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GM Area and Value Vs Conventional Seed - 2017P

20 40 60 80 100 120 Area Value

Conventional GM

% of Total

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Company Seed Sales – Year to End of June 2016 and 2017

Year to end Q2 2016 Year to end Q2 2017 Growth % Monsanto* 9.99 10.91 9.3 Dow DuPont 7.79 8.20 5.3 Syngenta 2.66 2.83 6.4 Bayer 1.50 1.66 11.1 Vilmorin 1.52 1.52 0.4 KWS 1.18 1.10

  • 6.8

* year to end July

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North America

(-0.1% constant currency growth in 2017)

USA (-0.5% in 2017)  Increased soybean area (+8.0%) but decrease in maize (-3.9%)  Increased soybean production (+2.0%) and decrease for maize (-3.6%)  Abnormally dry in south and south west, cold in northern plains, mid-west storms  Good growing conditions in mid-west (no extreme heat), record corn and soybean yield  Dry weather but high pest pressure in California  Weak farm economy, farmers purchasing low-cost options  Distributor inventory and agrochemical price pressure  Cotton area up due to better relative profitability to other crops  Good performance on cotton, peanuts, F&V and sugar crops  Xtend adoption, but dicamba drift concern Canada (+2% in C$ in 2017)  Excellent crop year in 2016, but limited potential in 2017.  Weak wheat and canola prices  Some dryness in the Prairies, but south east affected by rain  Fungicides and Seed treatments doing well

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Brazil

 El Nino weather pattern broken, early 2016/17 season better, but drought then returned  Low prices limit soy area (+1.8%), but boost maize (+15.0%)  Increase in soybean (+19.6%) and maize (+47.0%) production in 2016/17  2017/18 maize area down 6.8%, but soybean up 3.2% and cotton up 17.4%,  Current production forecasts for 2017/18 negative for maize but positive for soybean  Dry weather assisted 2016/17 harvest, but reduced disease and pest pressure  High Agchem inventories remain an issue, particularly for fungicides (affected by Solatenol introduction)  Real remains weak against the dollar, economy improved but farm liquidity remains an issue  Increased adoption of glyphosate tolerant maize  Low but improving glyphosate prices  New product introductions stalled in registration system  Helicoverpa problem boosted insecticide sales in 2013/14, but low pressure deflated 2014/15, and 2015/16, and dry weather held back 2016/17  Intacta soybeans (B.t.) has reduced some Lepidoptera sprays on soybeans

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Rest Latin America

Argentina  Removal of tax on maize and wheat exports and reduction on soybeans improved farm profitability  Crop protection market improved in both 2015/16 and 2016/17  Improved early season weather in 2016/17, but dryness then returned  Inflation remains high although farm economy improving  Area shift from soybean (-13.0%) to maize (+23.1%) and wheat (+45.5%) planting in 2016/17  Soybean production down (-6.5%), maize flat, but positive for wheat (+50.4%)  2017/18 soybean area down 6.7%, but maize up 3.5% and cotton 17.8%  2017/18 production badly affected by drought Rest LAM  Market performing well driven by improving wealth and increasing crop demand.  Crop exports are driven by speciality crops, so are not so affected by the downturn in maize and soybean prices.  High rainfall, flooding and mud slides affect Colombia, Chile and Peru in 2016/17 Mexico  Growth registered in Mexico in 2017 although dryness in west an issue.  Rains in Q3 befitted market performance  Crop protection market driven by fruit &vegetables, no longer maize

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Europe

(+2.4% constant currency growth in 2017)

 Low wheat and oilseed rape prices;  EU-28 Key crop area decline: wheat (-1.5%), barley (-2.5%), but increase for oilseed rape (+3.3%)  EU-28 increased production: wheat (+4.8%), barley (-2.1%) and oilseed rape (+6.6%)  Mild winter gave grounds for optimism but spring slow to start, and

  • Summer cold/dryness was an issue in parts of northern Europe
  • Drought in Southern Europe and Ukraine

 Low disease and pest pressure in West Europe, but Central and East Europe better  Improved economic conditions in Ukraine, but dry weather affects crop production  2015 EU Reform of Common agricultural policy reduced direct payment and crop areas in EU-15,

  • Ecological focus area removed 5% of land from production
  • Crop diversification requirements
  • Direct payments to central European member states increased.

 Agrochemical usage now banned on Ecological focus areas  Stronger growth in developing East and Central European countries than in EU-15

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Asia

(+3.6% constant currency growth in 2017)

 Rice de-stocking by Thailand now complete, global rice prices now improving  2016 monsoon better, but far from optimal, so still room for recovery  Good early monsoon season in India, but new sales tax delaying sales  Positive rice markets in India, Thailand, Vietnam and Indonesia  Drought returning to become a major issue again in Australia  ‘Zero Growth’ policy in China, drought in the north, but flooding in the south, weak prices  Palm oil prices improving

Local currency growth anticipated in most Asian countries  Still early in Asian crop/monsoon year

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Crop Prices and Farmer Wealth

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Maize and Soybean Prices

Source : FAO

100 200 300 400 500 600 700 800 50 100 150 200 250 300 350 J FMAMJ J A SON D J FMAMJ J ASOND J FMAMJ J A SOND J FMAMJ J ASOND J FMAMJ J ASOND J FMAMJ J A SOND J FM

Soybean $/Ton

2012 2015 2017 Maize $/Ton Soybean $/Ton

Soybean $/Ton

2012 2013 2014 2016 Maize $/Ton Soybean $/Ton

Maize $/Ton

2018

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US Maize and Soybean See Saw

Source : USDA

10.0 15.0 20.0 25.0 30.0 35.0 40.0 20.0 25.0 30.0 35.0 40.0 45.0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Corn Ha.m. Soybean Ha.m.

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Maize

Source : FAO and USDA

50 100 150 200 250 300 350 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18

Stocks T.m. Exports T.m. Price $/Ton

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Soybean

Source : FAO and USDA

0.0 100.0 200.0 300.0 400.0 500.0 600.0 700.0 20 40 60 80 100 120 140 160 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18

Stocks T.m. Exports T.m. Price $/Ton

Price Stocks and Exports

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Maize and Soybean

Source : Ministries of Agriculture For Brazil and Argentina 2018 is the 2017/18 crop season Red=Estimate (drought in Argentina)

Planted Area (Ha m.) Production (T. m.) Maize 2015 2016 2017 2018 2015 2016 2017 2018 USA 35.6 38.0 36.5 35.6 342.7 381.7 368.0 Brazil 15.7 15.3 17.6 16.4 84.7 66.5 97.8 88.6 Argentina 6.0 6.9 8.5 8.8 33.8 39.8 39.5 33.0 Sum 57.3 60.2 62.6 60.8 461.2 488 508.3 Brz + Arg 21.7 22.2 26.1 25.2 Soybean 2015 2016 2017 2018 2015 2016 2017 2018 USA 33.4 33.8 36.5 36.0 106.8 116.9 119.5 Brazil 32.1 33.3 33.9 35.0 96.2 95.4 114.1 115.0 Argentina 19.8 20.7 18.0 16.8 61.3 58.8 55.0 40.0 Sum 85.3 87.8 88.4 87.8 264.3 271.1 288.6 Brz + Arg 51.9 54 51.9 51.8

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Sugar and Cotton Prices

Source : USDA and Forexpros.com

500 1000 1500 2000 2500 100 200 300 400 500 600 700 J FMAMJ J A SON D J FMAMJ J A SOND J FMAMJ J A SOND J FMAMJ J A SOND J FMAMJ J A SOND J FMAMJ J A SOND J FM 2012 2017

Cotton $/Ton

2012 2013 2014 2015 2016 Sugar $/Ton Cotton $/Ton

Sugar $/Ton

2018

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0.0 500.0 1000.0 1500.0 2000.0 2500.0 3000.0 3500.0 0.00 5.00 10.00 15.00 20.00 25.00 30.00 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18

Stocks T.m. Exports T.m. Price $/Ton

Price Stocks and Exports

Cotton

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0.0 100.0 200.0 300.0 400.0 500.0 600.0 700.0 800.0 0.00 10.00 20.00 30.00 40.00 50.00 60.00 70.00 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18

Stocks T.m. Exports T.m. Price $/Ton

Price Stocks and Exports

Sugar

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Consolidation

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ChemChina Syngenta Adama

ametryn for sugarcane chlorothalonil fungicides in Mexico paraquat, abamectin and chlorothalonil in the USA

Amvac

  • Largest acquisition by a Chinese Chemical
  • rganisation
  • Key driver appears to be seeds
  • Chinese seed industry tightly state

controlled

  • Potential exploitation of Chinese

technology outside the country

  • Seeds stated as focus for further

acquisitions

  • Anti-trust activity
  • Repositioning of Adama under Sanonda did not satisfy anti-trust authorities
  • Creates anti-trust precedent for other Chinese companies
  • Requires divestment of some assets
  • Some already sold to Amvac
  • ametryn and chlorothalonil in Mexico from Syngenta
  • abamectin, chlorothalonil and paraquat in the USA from Adama
  • Range of products in Europe sold to Nufarm by Adama and Syngenta
  • Syngenta provides ChemChina with complete GLP registration capability
  • Potential conduit for international registration of new Chinese agrochemicals and traits

ChemChina / Syngenta

26 Nufarm

Range of products in Europe

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Year Month Company Activity 2018 February Nidera

  • S. American seed company

2018 February FarmShots Brazil precision Ag company 2018 March Strider US precision Ag company 2018 April Abbott & Cobb US Vegetable seeds

Syngenta Acquisitions since purchase by ChemChina

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Monsanto Bayer Liberty and Liberty Link businesses, certain canola, cotton, vegetable seeds and Precision Ag

  • Creates the largest Agrochemical / Seed company

worldwide

  • Key driver appears to be Precision Ag
  • Exploitation of ‘big data’ to enhance crop

protection marketing and seed development

  • Previous Bayer seed focus – cotton, canola, vegetables
  • Expands position in the major maize and soybean

sectors

  • Anti-trust divestments (almost entirely to BASF)
  • Some cotton, canola and vegetable seed assets
  • Liberty Link
  • Glufosinate
  • Bayer Precision Ag assets

BASF

Bayer / Monsanto

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Maize seed assets in Brazil

DuPont Dow FMC

Sulfonylurea and florasulam businesses in the EEA Chewing pest insecticides Broadleaf cereal herbicides

  • Impact of merger
  • + Dow trait portfolio/R&D enhances Pioneer seed
  • Both strong herbicide companies, with growing

insecticides businesses

  • Neither company strong in fungicides
  • Anti-trust divestments
  • Mostly sold as one package
  • Included R&D facilities and assets to sustain global

R&D base

  • Precluded other R&D companies from bidding
  • chlorantraniliprole / cyantraniliprole

Dow / DuPont

CITIC 29 Nufarm

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Acquisitions Divestments FMC DuPont R&D facilities and Research leads (but not products in development) chlorantraniliprole and cyantraniliprole DuPont broadleaf cereals herbicide business Florasulam and sulfonylurea businesses in the EEA to Nufarm Nufarm Florasulam and sulfonylurea businesses in the EEA from FMC Range of products from both Syngenta and Adama in Europe (ca $195 m in sales) Further consolidation into Sumitomo Amvac Paraquat, abamectin and chlorothalonil in the USA from Adama Ametyrn for sugarcane and chlorothalonil fungicides in Mexico from Syngenta Grupo Agricentre (Central American and Caribbean distribution) OHP (non-crop agrochemical business in USA)

Other beneficiaries of recent industry consolidation

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Company 2016 ($ bn.) Merged Companies 2016 ($ bn.) Syngenta 9.9 Syngenta Adama 12.6 Bayer 9.5 Bayer Monsanto 12.4 BASF 6.2 BASF 6.7 Dow AgroSciences 4.6 Dow DuPont 5.9 Monsanto* 3.5 FMC 3.8 Adama 2.9 Nufarm 2.4 DuPont 2.9 UPL 2.2 FMC 2.3 Sumitomo Chemical 2.0 UPL 2.2 Arysta LifeScience 1.8 Nufarm 2.1 Albaugh 1.0 Sumitomo Chemical 2.0 Kumiai Chemical 0.5 Arysta LifeScience 1.8 Sipcam Oxon 0.5 Albaugh 1.0 Amvac 0.3 Kumiai Chemical 0.5 Sipcam Oxon 0.5

Agrochemical Sales 2016

Pre and Post consolidation and anti-trust divestments/acquisitions

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Seed Sales 2016

Pre and Post consolidation and anti-trust divestments/acquisitions

Company 2016 ($ bn.) Merged Companies 2016 ($ bn.) Monsanto 10.4 Bayer Monsanto 10.5 Pioneer 6.7 Dow DuPont 7.9 Syngenta 2.7 Syngenta 2.7 Dow 1.5 Vilmorin 1.5 Bayer 1.5 BASF 1.4 Vilmorin 1.5 KWS 1.2 KWS 1.2 Agriliant genetics 0.6 Agriliant genetics 0.6 DLF 0.5 DLF 0.5 Takii 0.4 Takii 0.4 Sakata 0.4 Sakata 0.4

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Technology

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2 4 6 8 10 12 14 16 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

New Agrochemical Active Ingredient Introductions

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Active ingredients granted IUPAC common names

5 10 15 20 25 30 35 40 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Granting of IUPAC name normally corresponds with active ingredients entering development Source : Compendium of pesticide common names,

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Key Factors affecting Agrochemical R&D

 Shift in emphasis

  • US companies focused more on seed
  • Increasing share of new AgChems from Asia

 Regulation

  • Neonicotinoids – need for new sucking pest insecticides
  • EU product substitution / endocrine disruption
  • Potential action against triazoles
  • Shift to other ‘azole’ chemistry

 Resistance

  • Strobilurins –
  • Asian rust, Frogeye leaf spot (soybeans),
  • Septoria (cereals)
  • Shift in market to SDHIs (pyrazole carboxamides)
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Focus of Current R&D

Source : Compendium of pesticide common names, Company reports

In R&D, In co-development, recently introduced/acquired

Fungicide Fungicide Insecticide Insecticide SDHI Conazole Sucking pest Ryanodine Bayer isoflucypyram prothioconazole flupyradifurone tetraniliprole BASF mefentrifluconazole afidopyropen ipfentrifluconazole Dow/DuPont (fenpicoxamid) sulfoxaflor triflumezopyrim Syngenta benzovindiflupyr spiropidion pydiflumetofen FMC fluindapyr cyantraniliprole chlorantraniliprole

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Agrochemical R&D - Majors

Inward licenced

Source : Compendium of pesticide common names, Company reports

Company Herbicide Insecticide Fungicide Bayer tetraniliprole isoflucypram Syngenta spiropidion pydiflumetofen BASF trifludimoxazin afidopyropen mefentrifluconazole broflanilide ipfentrifluconazole Dow/DuPont tyclopyrazoflor fenpicoxamid dicloromezotiaz florylpicoxamid fluazaindolizine triflumezopyrim FMC fluindapyr

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Shift in Emphasis – Share of Products currently in Development

Source : Compendium of pesticide common names, Company reports

34.1% Majors (own R&D) 11.4% Majors (co-development) 50.0% Japan (excluding co- development) 4.5% Other (excluding co-development)

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Key factors in Seed R&D

Source : Company reports

 Herbicide tolerance

  • Enlist (2,4-D), Xtend (dicamba), HPPD tolerance (isoxaflutole,

mesotrione)

  • Enlist introduced on US cotton
  • Xtend introduced on US cotton and soybeans
  • HPPD licenced to 45 soybean seed companies in the USA, licences in

Canada are awaited  Insect resistance

  • Expansion into soybeans
  • Intacta (Monsanto), Conkesta (Dow)
  • Intacta gaining share in Brazil resulting in Pioneer inward

licencing the technology

  • 2 gene B.t. soybeans from Dow (Conkesta) and Monsanto

(Intacta 2 Xtend, scheduled for 2020 in Brazil)

  • SmartStax Pro, RNAi corn rootworm stacked with B.t. (introduction

expected in 2019)

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Emerging Technologies

 Precision Agriculture

  • Major concern from Agchem majors is financial return
  • Key driver of the Bayer Monsanto deal
  • Utilisation of ‘big data’ for marketing sales purposes
  • What will this mean for distribution?
  • Much activity in Europe, but not being pulled into ‘big data’

 Biologicals

  • Limited entrepreneurial market but seeing strong growth at present
  • Increasing regulation may limit smaller companies
  • Bio-stimulants to be registered as fertilisers in EU from 2019

 Soil microbes (microbiome)

  • Crop / soil interaction for enhanced yield
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Market Outlook

  • Crop Production / stocks likely to remain high
  • Improved seed quality
  • Further GM adoption
  • Need for crop diversification in the Americas to break the corn soybean seesaw
  • Volume growth in Developing markets
  • Central / East Europe
  • Developing Latin America
  • East Asia
  • R&D
  • Further regulatory pressure on older chemistry
  • Less new chemistry being introduced
  • Resistance drives need for new solutions
  • Distribution
  • Impact of Precision Ag / ‘big data’
  • New purchasing/delivery options
  • Farmers seeking best service but lower cost options
  • GM
  • CRISPR speeds up new trait development
  • RNAi provides new mode of pest/disease control
  • EU adoption?
  • Holistic view to crop protection
  • Seed/traits
  • Chemistry
  • Biologicals/Bio-stimulants
  • Soil microbiology
  • Precision agriculture
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Appendices

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Year Crop Company Trait / Product 2016 Cotton Dow Enlist WideStrike 3 Cotton 2016 Soybean DuPont Pioneer Pioneer soybeans with Roundup Ready 2 Xtend 2016 Alfalfa Monsanto HarvXtra (reduced lignin) 2016 Cotton Monsanto Genuity Bollgard III 2016 Soybean Monsanto SDA Omega-3 2016 Soybean Monsanto Vistive Gold 2016 Soybean Monsanto Genuity Roundup Ready 2 Xtend 2017 Cotton Bayer TwinLink Plus 2017 Maize Dow PowerCore Ultra 2017 Maize DuPont Pioneer Qrome (IR triple stack, two modes of action) 2017 Canola Monsanto Genuity TruFlex Roundup Ready + Liberty Link 2017 Canola Monsanto Genuity TruFlex Roundup Ready

GM Traits – Recent Introductions

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Year* Crop Company Trait / Product 2018 Canola Bayer Dual HT 1 2018 Sunflower DowDuPont Omega-9 Reduced Saturate Sunflower 2018 Canola DowDuPont Optimum GLY 2018 Canola DowDuPont Optimum GLY + Liberty Link 2018 Maize Monsanto 3rd Gen Weed Control (dicamba/glufosinate/glyphosate) 2018 Soybean Syngenta Multiple mode herbicide tolerance 2018 Soybean Bayer Balance GT 2019 Canola Bayer Improved oil 2019 Canola Bayer Herbicide Tolerant Ogura Hybrid 2019 Rice Bayer Insect resistance 2019 Soybean Bayer HPPD tolerance + Glufosinate (MGI) 2019 Maize Monsanto Genuity SmartStax Pro 2019 Soybean Syngenta MGI (HPPD + glufosinate) 2020 Canola Bayer Herbicide tolerance (MS11) 2020 Canola Bayer Dual HT 2

GM Traits in Development

* Estimated year of introduction

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Wheat and Rapeseed Prices

Source : FAO

100 200 300 400 500 600 700 50 100 150 200 250 300 350 400 J FMAMJ J A SON D J FMAMJ J A SOND J FMAMJ J A SOND J FMAMJ J A SOND J FMAMJ J A SOND J FMAMJ J A SOND J FM 2012 2015 2017

Rapeseed $/Ton

2012 2013 2014 2016 Wheat $/Ton Rapeseed $/Ton

Wheat $/Ton

2018

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Wheat

Source : FAO and USDA

50 100 150 200 250 300 350 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18

Stocks T.m. Exports T.m. Price $/Ton

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Oilseed Rape

Source : FAO and USDA

0.0 100.0 200.0 300.0 400.0 500.0 600.0 700.0 2 4 6 8 10 12 14 16 18 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18

Stocks T.m. Exports T.m. Price $/Ton

Stocks and Exports Price

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Rice and Palm Oil Prices

Source : FAO

200 400 600 800 1000 1200 1400 0.0 100.0 200.0 300.0 400.0 500.0 600.0 J FMAMJ J A SON D J FMAMJ J A SOND J FMAM J J A SOND J FMAM J J A SOND J FMAM J J A SOND J FMAMJ J A SOND J FM 2012 2017

Palm Oil $/Ton

2012 2013 2014 2015 2016 Rice $/Ton Palm Oil $/Ton

Rice $/Ton

2018

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SLIDE 50

CPDA A&I Conference 2018

May 2018

50

Rice

Source : FAO and USDA

0.0 100.0 200.0 300.0 400.0 500.0 600.0 20 40 60 80 100 120 140 160 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18

Stocks T.m. Exports T.m. Price $/Ton

Price Stocks and Exports

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SLIDE 51

CPDA A&I Conference 2018

May 2018

51

R&D - Japan

Source : Compendium of pesticide common names, Company reports

Out licenced

Company Herbicide Insecticide Fungicide Sumitomo fluhexafon inpyrfluxam

  • xazosulfyl

pyridachlometyl metyltetrapole Ishihara tolpyralate cyclaniliprole SL-1201 lancotrione-sodium Kumiai fenquinotrione dichlobentiazox Meiji Seika afidopyropen fenpicoxamid flupyrimin Mitsui Chemicals Agro cyclopyrimorate broflanilide quinofumelin Nihon Nohyaku pyriprole pyraziflumid benzpyrimoxan Nippon Soda acynonapyr ipflufenoquin Nissan Chemical fluxametamide pyrapropoyne Agro-Kanesho aminopyrifen