Japanese chemical company Sumitomo Chemical and German giant BASF have announced the signing of a global collaboration agreement to develop a new fungicide.

The agreement centres around a compound discovered by Sumitomo Chemical, which the pair say is highly effective at controlling a number of major plant diseases, including those that have developed resistance to other available fungicides.

Speaking from Germany, Sumitomo executive and spokesperson Ray Nishimoto said, “Together with BASF, we will be able to provide more growers with the opportunity to experience the benefits of this new fungicide, which will play an important role in the resistance management of difficult to control plant diseases. Through this partnership, we show our commitment to sustainable agricultural production.”

Markus Heldt, President of BASF’s Crop Protection division, added, “Farmers want to grow healthy crops and sustainably supply the increasing demand for food and fiber. This strategic cooperation between BASF and Sumitomo Chemical demonstrates the two companies’ commitment in investing in solutions to help farmers manage their business.”

Though they plan to work together on development of the new compound, the two companies will separately develop unique formulations using their fungicide. Commercialisation of these products won’t begin for another year or so; both companies still need to undertake registrations and gain regulatory approval from national and international authorities for their fungicide. Registration submissions in major markets are only set to begin in 2018, according to BASF.

Additional terms and conditions of the agreement were not disclosed.