Total market enlist E3™ Soybean Acreage Projections for 2020 nearly doubled
Corteva, Inc. (NYSE: CTVA) recently announced that the Company is accelerating the ramp-up of Enlist E3™ soybeans to U.S. and Canadian farmers over the next five years – reinforcing the Company’s commitment to its Enlist technology and continued focus on bringing greater choice and value to growers. Corteva continues to see strong demand for the technology from farmers, retailers and independent seed companies; and expects planted acreage projections in 2020 to approach 20 percent of the U.S. market – double original expectations.
“The decision to accelerate production of Enlist E3 soybeans, along with the Enlist One® and Enlist Duo® herbicides, ahead of the 2021 selling season reflects our continued focus on rapidly ramping up differentiated technology solutions that we expect will enable greater choice and value for growers over time,” said James C. Collins, Jr., Corteva Chief Executive Officer. “Our Enlist weed control system illustrates the power of Corteva across platforms, integrating seed and chemistry – providing much-needed solutions to farmers that address complex challenges, such as weed resistance, while strengthening Corteva’s proprietary trait offering.”
Enlist E3 soybeans are an industry-leading triple-stack of herbicide tolerance, jointly developed and owned by M.S. Technologies, L.L.C. They incorporate glyphosate and glufosinate and enable use of Corteva’s new 2, 4-D formulations in Enlist One® and Enlist Duo® herbicides with near-zero volatility and minimized potential for physical drift when label directions are followed.
Solid on-farm performance of Enlist E3 soybeans last fall has led to continued interest among growers and retailers, as well as independent seed companies seeking to license this innovative technology. More than 20 additional licensees have signed contracts to access the technology, bringing total licensee agreements to more than 120 in the United States and Canada.
During the five-year ramp-up period, Corteva is expected to significantly reduce the volume of products with the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits beginning in 2021, with expected minimal use of the trait platform after the completion of the ramp-up of the Enlist weed control system.
The Company also announced that it recently received import authorization in China for the Conkesta™ soybean insect control trait, which will be offered as a stack with the Enlist E3 soybean herbicide trait in Latin America in the early 2020s.
