Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
    
   
   
   
   
   
   
   
   

Agricultural News


Cost of Crop Protection Innovation Increases to $286 Million Per Product

Thu, 14 Apr 2016 16:00:59 CDT

Cost of Crop Protection Innovation Increases to $286 Million Per Product Every crop protection product that reaches the market costs $286 million and takes 11 years of research and development to ensure the highest safety and efficacy standards, according to a new report published April 13. The report found the industry spent a total of $2.6 billion on new innovations in 2014.



CropLife International (CLI), CropLife America (CLA) and the European Crop Protection Association (ECPA) commissioned Phillips McDougall, an independent consultant specializing in market analysis for the agrochemical industry, to research the cost of bringing a new active ingredient to market.



The report found the cost of bringing a new product to market has increased by 55 percent since the turn of the century. Much of the increase in cost can be attributed to a rise in the volume and complexity of environmental safety and toxicology data required by regulatory bodies to ensure products are safe.



Meanwhile the time commitment to bring a product to market has increased from 8 years in 1995 to more than 11 years now, reflecting the rigorous research and development phase and delays in regulatory decisions.



CropLife International CEO and President Howard Minigh said: “The crop protection industry continues to invest heavily in cutting edge innovations to help farmers around the world to protect their crops from pests. Given the growing cost, the report demonstrates why we need predictable and risk-based regulations alongside robust intellectual property rights to give companies the confidence to continue to invest.”



CropLife America President and CEO Jay Vroom stated: “Crop protection products have never been more thoroughly tested and screened to ensure product safety, which is why regulators must ensure that the process for review does not change at a moment’s notice. The United States established two governing Acts, FIFRA and FQPA, that guarantee health and safety of the public, while ensuring a clear path for pesticide registration. The recent regulatory decisions have strayed from these guidelines by depending on less stringent scientific standards, causing concern about the ability for companies to bring new, more environmentally sound technologies to the market.”



European Crop Protection Association Director General Jean-Charles Bocquet added: “Our industry is founded in science, and as this report demonstrates, it takes years and significant resource and scientific expertise to get even close to bringing one of our innovations to market, however the increased politicization of science in Europe is making that process more and more difficult.”



Source: CropLife America



   

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Environmental Law Enforcement Training Available in OKC  Tue, 10 Dec 2019 06:32:18 CST
  • Steer Calves, Heifer Claves and Yearlings Steady at Joplin Regional Stockyards on Monday  Tue, 10 Dec 2019 06:02:58 CST
  • Feeder Steers and Steer Calves Steady, Feeder Heifers and Heifer Calves Steady at Oklahoma National on Monday  Tue, 10 Dec 2019 05:46:53 CST
  • Monday December 9, 2019 Market Analysis with Justin Lewis of KIS Futures  Tue, 10 Dec 2019 05:43:43 CST
  • Calf Auction Fundraiser for All American Beef Battalion Set for December 16th at the Oklahoma National Stockyards  Tue, 10 Dec 2019 05:18:04 CST
  • Corn Harvest Reaches 92%, Cotton Harvest Reaches 89% Nationally in Final Crop Progress Report of the Year  Tue, 10 Dec 2019 03:31:14 CST
  • OSU's Derrel Peel Talks How Beef Exports are Struggling and Imports are Steady so far for 2019  Mon, 09 Dec 2019 20:24:24 CST
  • 75th Annual AFR/OFU State Speech Contest Challenges Oklahoma Youth  Mon, 09 Dec 2019 20:19:46 CST

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


       
       
    © 2008-2019 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.