Monsanto receives key approval for Intacta RR2 PRO soybeans
Monsanto Company's first technology developed specifically for an international market, Intacta RR2 PRO soybeans, has received official approval from China's Ministry of Agriculture. With this approval, Monsanto will now begin commercial preparation for the full-scale launch of Intacta RR2 PRO soybeans in Brazil for the upcoming crop season.
Intacta RR2 PRO soybeans are expected to become one of the cornerstone products in Monsanto's next-generation soybean platform. The technology represents one of the most significant growth drivers in its global portfolio, and it is estimated that it could deliver benefits to farmers in more than 100 million acres across South America.
"This approval represents a significant milestone for Brazilian farmers and our company, and showcases the next wave of innovation that is poised to drive the decade of the soybean at Monsanto," said Brett Begemann, Monsanto's president and chief commercial officer. "Importantly, the introduction of Intacta RR2 PRO brings a new choice in insect control and convenience to Brazilian farmers, and creates the opportunity to expand our soybean platform as we accelerate innovation in this core crop."
Along with Monsanto, multiple South American seed companies are anticipated to launch Intacta RR2 PRO this coming season.
Final Ground Breakers results set tone for commercial opportunity
In conjunction with the transition to commercial preparation for the upcoming season, Monsanto also unveiled the final results for its latest year of Ground Breakers on-farm trials in Brazil. This year, the company doubled its Ground Breakers program in Brazil to include 1,000 growers, and final results from this year's harvest demonstrate another year of significant yield advantage of greater than four bushels per acre against first-generation Roundup Ready soybeans.
"The experience and insight we've gained from working with farmers through two years of Ground Breakers on-farm trials has us well-positioned for a successful product launch," Begemann said. "Intacta RR2 PRO represents meaningful new value for the farmer and significant business growth opportunity for Monsanto."
The company noted that the commercial launch in Brazil becomes the catalyst for successive launches of Intacta RR2 PRO soybeans throughout South America, ultimately accessing a 100-million-acre total opportunity. Monsanto expects Ground Breakers trials for Intacta RR2 PRO in Argentina in fiscal year 2014, with a commercial launch expected in fiscal 2015. Monsanto is currently developing the second- and third-generation of Intacta RR2 PRO to provide additional benefits to growers in the region.
Intacta RR2 PRO soybeans offer three distinct benefits for growers: increased yield potential; protection against major pests that attack soybeans – velvetbean caterpillar, soybean looper, bean shoot borer, bollworm, corn stalk borer and Helicoverpa; and tolerance to glyphosate herbicide.