March 11, 2008

DuPont eyes rapid expansion for seed business in Eastern Europe

DuPont recently said that it sees rapid expansion in the high growth Eastern Europe agricultural markets, as the area accounts almost 60 percent of corn acres in Europe.

Speaking at the Credit Suisse 2008 Global Agrochemicals Conference, DuPont vice president Paul Schickler said DuPont business Pioneer Hi-Bred is well positioned to serve the vast agricultural opportunity in the region.

Pioneer has grown its seed corn market share for all of Europe by more than four points over the last five years, Schickler said.

The Pioneer volume of seed corn has grown by 39 percent during that time while total hectares planted to corn have remained relatively stable.

Schickler pointed that Pioneer, which had US$3.3 billion in revenue in 2007 and is a key growth engine for DuPont, is extending in all international seed markets with particularly strong gains in Brazil and Argentina, where biotech crops are being widely adopted.

In North America, he said, the business is on track to hold corn market share and grow soybean seed market share in 2008.

Pioneer Hi-Bred, a DuPont business, provides customized solutions for farmers, livestock producers and grain and oilseed processors. With headquarters in Des Moines, Iowa, Pioneer provides access to advanced plant genetics in nearly 70 countries.

DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.