May 14, 2009
Monsanto sees US seeds business doubling
Monsanto's US seeds and traits business could reach a gross profit of US$4.7 billion to US$4.8 billion by 2012, up from the 2008 gross profit of US$2.4 billion, according to company officials.
Monsanto's international seed and traits business' gross profit is expected to grow to US$2.6 billion to US$2.7 billion by 2012, up from US$1.45 billion in 2008.
Monsanto plans to launch a high impact technology (HIT) product every one to two years to deliver more than US$300 million in gross revenue opportunities by 2020 in the country where it is launched.
Among the company's top targeted product releases are its Genuity Roundup Ready 2 Yield soy and Genuity SmartStax corn, as well as a drought-tolerant corn and corn that uses nitrogen more efficiently, and an insect-protected soy for Brazilian farmers.
Monsanto's sales of GM trait developments in corn, soy, and other crops have grown rapidly in the US, but the company is looking for international growth as revenues from chemical herbicides peak.
