August 14, 2009
Monsanto to boost price for new GM seeds next year
Monsanto Co., the world's largest seed maker, plans to charge as much as 42-percent more for its new genetically modified (GM) seeds next year than the current offerings because they increase farmers' output.
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 St. Louis-based Monsanto.
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.
Monsanto chief executive officer 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 soy beans, which resist Monsanto's Roundup herbicide, produce 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.
Monsanto said Roundup Ready 2 Yield soy seeds will be planted on as many as 8 million acres next year and may reach 55 million acres in the US in the future, adding that SmartStax corn seed will also be planted on as many as 4 million acres in 2010, with a potential for as many as 65 million acres in the US.
