The chemical firm – BASF, recognized as a global leader in food and nutrition industry, has recently inaugurated a new Rice Knowledge Center at its Agricultural Research Station in Laguna, Philippines. Reportedly, the new facility is expected to minutely harness BASF’s global expertise in rice cultivation and production. The new center is further likely to provide technical support to farmers in the quest of increasing productivity and sustainability.
According to industry experts, the establishment of RKC will allow BASF to source vital information on rice production to formulate their chemical solutions that would in turn boost its sales of crop-protection products. As per experts, this would lead to a significant upsurge in the demand for rice, and by extension, would impel rice protein market.
For the record, rice is one of the most important food crops produce in the Philippines. The country is the 9th largest rice producer, accounting for 2.8% of worldwide rice production. In context, BASF’s new center will enable the farmers to meet the growing demand for rice and as well share latest technologies with them to drive further innovation in rice production.
Dion Bannay, BASF’s head of RKC, revealed in a statement that, currently, the business of BASF in rice production across the Asia Pacific belt is very low (around 3% of the overall APAC market share), as a result of which, the BASF team intend to reestablish rice business in the region. Analysts cite that given the effective measures toward rice production and increasing organic rice protein demand, the establishment of RKC is certain to fuel the regional rice protein market.
Reports claim that BASF had conceptualized RKC project some three years ago and was supposed to undergo three phases of development. In the near future, RKC is supposed to undertake a slew of partnerships and strategic mergers in order to develop and introduce new solutions for rice growers across APAC. This move, according to experts, is certain to further consolidate BASF’s presence across Asia Pacific rice protein industry.