BASF and Monsanto join forces on fungicide
Fri Jun 29, 2007 10:42am ET
FRANKFURT, June 29 (Reuters) - Agrichemical company Monsanto will help German chemicals maker BASF to market a pesticide in the United States, BASF said on Friday.
Monsanto will recommend BASF's "Headline" fungicide, which hit the U.S. market in 2003, to farmers using corn and soybean seeds from Monsanto.
In 2006, about 95 percent of U.S. soybean farmers and 40 percent of corn planters used the genetically modified seeds from Monsanto, the world's biggest seed producer.
BASF says the fungicide has demonstrated average yield increases of 6 to 10 percent in field trials.
The company is hoping for further momentum for the sales of the fungicide as the use of corn and soy for biofuel feedstocks soars.
BASF and Monsanto had agreed in March to collaborate on developing higher-yielding crops that are more tolerant to adverse enviromental conditions such as drought.
The companies had said they will dedicate a joint budget of potentially 1.2 billion euros to fund stress tolerance traits studies for corn, soybeans, cotton and canola.
Engineering News Archive