Company aims to annually increase its sales share of agricultural solutions with substantial contribution to sustainability by 7 per cent.
BASF strengthens its activities in research and development (R&D) for sustainable agricultural innovations, helping farmers to overcome environmental and economic challenges as well as meeting consumers’ demand for more sustainably produced food.
With solutions launching throughout the next decade, the pipeline supports the company’s aim to annually increase its sales share of agricultural solutions with substantial contribution to sustainability by 7 per cent. By 2030, more than 30 major R&D projects will complement BASF’s connected offer of seeds and seed treatment products, chemical and biological solutions, as well as digital services. This brings the pipeline to an estimated peak sales potential of more than €7.5 billion. In 2020, BASF spent €840 million in R&D in the Agricultural Solutions segment; representing around 11% of the segment’s sales. In 2021, the company will continue to invest in R&D of agricultural innovations at a high level.
“BASF leads in solutions for sustainable agriculture. In addition to developing innovations, we also provide a connected offer, combining effective products as well as new technologies and services, tailored to customers’ needs and their different crop systems around the world,” said Vincent Gros, President of BASF’s Agricultural Solutions division.
Gros also emphasized that BASF has committed to ambitious sustainability targets for its agriculture business by 2030: Besides increasing the annual sales share of sustainable agricultural solutions, farmers will be supported in reducing their CO2 emissions by 30 per cent per ton of crop produced. Further, the company strives to apply digital technologies on more than 400 million hectares of farmland cumulatively by 2030, while continuing to ensure the safe use of its products. BASF remains committed to developing solutions that drive the transformation of the agricultural food system for the better. Sustainability is engrained in our entire R&D process. It leads the way in how we develop our innovations, which support farmers produce more and better while preserving natural resources.
