DuPont Unveils New Strategies to Increase Farmer Productivity
Better Corn Insect Control System, Higher Soybean Yields, Broader Seed Business Reach in Brazil
NEW YORK.- DuPont Group Vice President J. Erik Fyrwald today announced a new insect control system for its seed corn product line, a new platform of soybean technology that will deliver a 40 percent increase in yield over the next decade, and a second seed corn brand for Brazil at the Goldman Sachs 12th annual Agricultural Biotech Forum.
Better Corn Insect Control System
The new insect control system, Optimum® AcreMax™, will provide corn growers with improved productivity by increasing the number of acres farmers can plant to the industry’s most advanced insect control options. The first of several Optimum® AcreMax™ products will be launched as early as 2009, pending regulatory approval.
“The Optimum® AcreMax™ system will use a unique combination of proven technologies to deliver the best products for maximum yield, convenience, and ultimately refuge reduction,” Fyrwald said.
Higher Yielding Soybeans
“We expect our proprietary technologies coupled with native and biotech traits will result in a 40 percent yield increase in the next 10 years,” Fyrwald said. “This is going to extend our number one brand position in soybeans for many years to come.”
Fyrwald explained that the yield increase will come from a convergence of its proprietary Accelerated Yield Technology™, the Optimum® GAT® herbicide tolerance trait, and biotech yield traits built upon superior base genetics.
New Corn Seed Brand for Brazil
Fyrwald also announced plans for DuPont to expand its market share lead in Brazil through the launch of a second seed brand by its Pioneer Hi-Bred business. The new BioGene™ brand will enable Pioneer to extend its reach to a segment of Brazilian farmers who do not choose to buy premium, high-technology seed for which the Pioneer(R) brand is known.
“The BioGene™ brand allows us to deliver increased value to more farmers while keeping the Pioneer® brand focused on a segment where we have undisputed leadership,” Fyrwald said.
Pioneer has been investing in research and development of corn hybrids well suited for this segment of the market. The BioGene™ brand will have its own sales force, separate from Pioneer. Its products will be distributed through a separate network of dealers and co-ops.
The launch of BioGene™ comes at a time when Pioneer is recording impressive gains in Brazil. In 2007 the DuPont business recorded a corn sales volume increase of 52 percent and a market share gain of eight points. “The Pioneer support structure provides a huge advantage for BioGene™ over its competitors, and results in economies of scale,” Fyrwald said.
2008 Outlook for DuPont Ag & Nutrition
“The growth fundamentals in global agriculture markets are outstanding and our business intends to capitalize on that,” Fyrwald said. “We have high-performing products and strong, growing global market positions. We are bringing new, superior performing products to market at an accelerating rate.”
The DuPont Agriculture & Nutrition segment posted a 14 percent gain in revenue in 2007. That gain was partially driven by stronger seed sales from the company’s Pioneer Hi-Bred business. Pioneer reported a record 40 percent increase in fourth quarter seed sales over the same period in 2006.
“Our investments in seed around the globe are paying off with consistent market share gains in Latin America, Europe, Asia and Africa,” Fyrwald said.
He added that the Agriculture & Nutrition business segment is on track to deliver double-digit earnings growth in 2008 and into the foreseeable future. Fyrwald’s presentation is available in the DuPont Investor Center Leaving Pioneer.com.
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