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Markets :: Fine Chemicals/Biotech :: Seeds and traits
Monsanto Expects to Grow 2008 Corn Seeds Profits 25%
2:05 PM MDT | August 18, 2008 | Chemical Week Editorial Staff
Monsanto says it expects gross profit for its corn seeds business to grow by 25% this year, and by another 25%-30% in 2009, amid strong demand. Monsanto attributes the anticipated double-digit 2009 increase to growers’ increasing demand for its “high-yielding” corn hybrids, which will allow it to increase triple-stack traits prices next year. The price increase will vary by region with an average regional increase of about 33% from 2008 prices. However, soybean gross profits are expected to rise 15% this year, but only 5% in 2009 due to an...
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