Sustainable solutions to drive Bayer CropScience growth

Bayer CropScience is optimistic about the development perspectives of the agricultural markets and commits to invest significantly to deliver new solutions for sustainable agriculture. “We are convinced of the long-term growth potential of the agricultural markets despite increasing volatility,” said Liam Condon, CEO, Bayer CropScience at the company’s annual press conference in Monheim, Germany.
 
He added, “We expect the worldwide market for agricultural inputs of crop protection products, seeds and traits to grow to around Euro 100 billion by 2020, up from Euro 50 billion in 2008.” Intensification and professionalisation of agriculture are among the key drivers for mid- to longterm market development, Condon explained, citing a growing need for sustainable farming solutions.
 
He stressed, “As Bayer CropScience, we see our role as a key contributor to enable sustainable growth of the farming sector that benefits both growers and society alike. Helping growers produce high-quality, safe and healthy food for everybody around the world, and thereby contributing to a better life for all is our mission.”
 
“In light of the strong demand for our products we are expanding our facilities and our investments in research and development (R&D),” continued the Bayer CropScience CEO. The company has embarked on an investment program in 2013 that will see capital expenditures of Euro 2.4 billion through 2016: Out of this, Euro 1.3 billion will be spent in Europe, with Euro 800 million being planned for Germany alone.
 
Between 2013 and 2016 Bayer CropScience is also planning capital expenditures of some Euro 700 million in North America and approximately Euro 400 million in Latin America and Asia Pacific. The largest individual investments are planned for the Dormagen, Frankfurt and Knapsack sites in Germany, as well as Mobile and Kansas City in the US.
 
Farmers’ demand for the company’s innovative line of products including chemical and biological crop protection products as well as high-yielding seeds is driving Bayer CropScience to invest further into its R&D capabilities. Over the next few years, Bayer CropScience will invest around Euro 1 billion in R&D annually, helping to fuel the company’s well-filled product pipeline.
 
Condon highlighted efforts at Bayer CropScience to help save orange trees through an integrated approach controlling the citrus greening vector and other harmful pests through novel chemical and biological solutions. Bayer CropScience is also looking to market a rice variety that is twice as tolerant to salinity as currently available varieties, which is scheduled for market launch in India in 2016, followed by Bangladesh and Vietnam.