August 14, 2009
Monsanto to boost prices for new seeds by 42 percent
Monsanto plans to charge as much as 42-percent more for its new GM seeds next year than the current offerings because they can help increase farmers' production.
Roundup Ready 2 Yield soy will cost farmers an average of US$74 an acre in 2010, and original Roundup Ready soy will cost US$52 an acre, according to Monsanto in presentations on its website.
SmartStax corn seeds, developed with Dow Chemical Co., will cost US$130 an acre, 17-percent more than the YieldGard triple-stack seeds they will replace.
CEO Hugh Grant is introducing new modified seeds that boost yields as part of a plan to double gross profit from 2007 to 2012. The new variety, which resists Monsanto’s Roundup herbicide, produces 7.4-percent more soy per acre than the older version. SmartStax kills bugs in multiple ways, reducing the amount of conventional corn that must be planted to fight insecticide resistance.
