Agricultural News
Monsanto Corn and Soybean Seed Market Share Increases In 2012
Wed, 03 Oct 2012 13:50:26 CDT
Monsanto Company closed out the 2012 fiscal year with a per share growth of 25 percent fueled largely by increased sales of corn and soybean seed. The increased sales outpaced the growth in U.S. planted acreage according to a financial statement released by the company. Monsanto also notched higher sales in its international seeds and traits market.
For the fiscal year, Monsanto realized Seeds and Genomics segment sales of $9.8 billion, reflecting a 14 percent increase over the prior year.
In the United States in 2012, Monsanto's branded seed volume grew by the largest increment in three years and outpaced market expansion. In corn, the company reached 27 million planted U.S. acres for its Genuity® Reduced Refuge Family.
With harvest still in progress, the company published preliminary performance data on some of its products:
· In a year when average corn yields are significantly down, DEKALB® is outperforming competitive products with approximately an eight-bushels-per-acre national yield advantage.
· Monsanto's Genuity® DroughtGard™ Hybrids system results across the Western Great Plains show approximately a five-bushels-per-acre yield advantage so far.
In 2013, the company is targeting 36 million to 38 million acres for the Reduced Refuge Family. Executives say seed prices will increase five to ten percent next year due to increased demand for its premium products.
In soybeans, the company reached a total of 32 million acres for its Genuity® Roundup Ready 2 Yield® product in the United States. The company is targeting 39 million to 41 million acres in 2013.
In 2013, the company expects Latin America to again be a strong source of growth complementing the U.S. business, driven by the continued corn opportunity in Brazil and Argentina.
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