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Monsanto Lowers Forecast, Announces Roundup Price Cuts

8:14 AM MDT | June 4, 2010 | REBECCA COONS

Monsanto says it will reset the strategy of its Roundup glyposate business, citing the market “upheaval” caused by a flood of generic glyphosate herbicides from China. Monsanto will cut Roundup prices to be more in line with generics and reduce the number of formulations. Though the move is a dramatic departure from Monsanto’s premium pricing strategy for Roundup, “doing this half-way would only prolong the problem,” chairman and CEO Hugh Grant told investors. Chinese glyphosate capacity is overbuilt, and the lower prices have become institutionalized...

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