Source: Monsanto Company
BASF and Monsanto Company announced an expansion of their joint efforts to develop higher-yielding and stress-tolerant crops to include a fifth crop, wheat. In addition, the companies are increasing their investments in the collaboration, reflecting the strong leads and commercial prospects in the collaboration's early work. The collaboration that was established in 2007 includes the following crops: corn, soy, cotton and canola. In the original collaboration, the two companies dedicated a joint budget of potentially $1.5 billion; the new agreement will result in a potential additional investment of more than $1 billion by the companies over the life of the collaboration.
"Our yield and stress collaboration with BASF already has brought forth so many promising leads, the first of which we'll see on farm in coming years with our first-generation drought-tolerant corn," said Robb Fraley, Monsanto's chief technology officer. "When I look at the promise Monsanto's unmatched pipeline holds, and the potential for the discovery work in progress at both our companies, today's announcement is excellent news for farmers around the world."