Monsanto shows how high-tech farming has become
The research done on the major crops also can be used to help develop and make improvements to smaller crops, Burton said. Its work is designed to improve the genetic buildup of crops while still keeping the look, feel and taste of them the same.
Burton said the company spends about $2 million each day on seed research, and introducing new products takes anywhere from eight to 10 years of research. Unlike other companies who also work to develop better seeds, Monsanto’s only project is agriculture, he said.
“Monsanto is focused only on agriculture,” Burton said. “Our success is dependent on farmer’s success.”
Major developments Monsanto has been able to introduce in recent years are seeds and plants that are more resistant to insects, Burton said. Using products such as Bollgard II cotton seeds, farmers have gone from having to spray pesticides as many as 14 times per year some 12 years ago to spraying only two or three times per year now. Reduced spraying, of course, adds to the profit line.
Seed development is a continuing goal to improve farmers’ yields and better plant production, Burton said. Monsanto is about four years away from being able to bring drought-resistant corn to the market, he added.
Jason Berkes
www.jasonberkes.com/usdaLabels: Hot Farming Stocks, Jason Berkes, Monsanto
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