Brazil is the second most important market for Bayer AG. It is expected to driver growth in the division of science for crops for the German company, said the chief executive of the area, Liam Condon, in a meeting with journalists in Sao Paulo.
Bayer, which is in the process of completing the purchase of the US giant Monsanto Co., estimates revenues of around 15 billion reais (US $ 3.852 billion) in Brazil for this year.
80% of that income would come from combined businesses that include agrochemicals and genetically modified seed licenses.
The German company Bayer finalized in the beginning of June the purchase of Monsanto for US $63 billion and withdrew the name of the state supplier.
The German pharmaceutical company received all the required approvals from regulators, Monsanto said in a 117-year-old American seed statement on Monday.