Agribusinesses expect big yield in fields and stocks
[2008-7-28]
Tag : bayer + soybeans + fungicides
For years, the agribusiness industry has everso quietly been making new seeds to turn everyday crops -- corn,soybeans, canola, cotton, vegetables -- into Olympic farmlandathletes. These genetically modified crops are being engineered togrow bigger, faster, stronger. They can resist certain herbicidesand pests and may soon withstand drought.
While skeptics have denounced these GM crops as "Frankenfoods"endangering humanity and nature as we know it, agribusiness hascome out of the barn and is exploding in value, with sales of some$60 billion a year. Now, soaring food prices and mounting shortagesare setting the stage for an even stronger agribusiness boom.
Growth has been so phenomenal that the two biggest independentnames in the industry, Monsanto Co. of St. Louis and Syngenta AG ofBasel, Switzerland, did not even exist as pure agribusinesscompanies until early in this decade. The two rivals' combinedmarket value exceeds $100 billion. Between them, they control athird of the market for seeds, pesticides and fertilizers.
"I clearly see the path to doubling our gross profit by 2012," saysBrett Begemann, Monsanto's global head of commercial operations inSt. Louis.
GM seeds are already ubiquitous in North and South America and someparts of Asia. Hawaiians grow a virus-resistant GM papaya. Americanfarmers grow "heart healthy" soybeans with a low trans-fat content.The R&D pipeline includes rice pumped up with vitamin A andoilseeds with enhanced omega-3 fatty acids. Robert Shapiro,Monsanto's boss in the 1990s, called GM seeds "the single mostsuccessful introduction of technology in the history ofagriculture, including the plow."
For years, the agribusiness industry has everso quietly been making new seeds to turn everyday crops -- corn,soybeans, canola, cotton, vegetables -- into Olympic farmlandathletes. These genetically modified crops are being engineered togrow bigger, faster, stronger. They can resist certain herbicidesand pests and may soon withstand drought.
While skeptics have denounced these GM crops as "Frankenfoods"endangering humanity and nature as we know it, agribusiness hascome out of the barn and is exploding in value, with sales of some$60 billion a year. Now, soaring food prices and mounting shortagesare setting the stage for an even stronger agribusiness boom.
Growth has been so phenomenal that the two biggest independentnames in the industry, Monsanto Co. of St. Louis and Syngenta AG ofBasel, Switzerland, did not even exist as pure agribusinesscompanies until early in this decade. The two rivals' combinedmarket value exceeds $100 billion. Between them, they control athird of the market for seeds, pesticides and fertilizers.
"I clearly see the path to doubling our gross profit by 2012," saysBrett Begemann, Monsanto's global head of commercial operations inSt. Louis.
GM seeds are already ubiquitous in North and South America and someparts of Asia. Hawaiians grow a virus-resistant GM papaya. Americanfarmers grow "heart healthy" soybeans with a low trans-fat content.The R&D pipeline includes rice pumped up with vitamin A andoilseeds with enhanced omega-3 fatty acids. Robert Shapiro,Monsanto's boss in the 1990s, called GM seeds "the single mostsuccessful introduction of technology in the history ofagriculture, including the plow."
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