Progress is being powered by strong commercial execution in a positive market environment, particularly in fungicides and herbicides
Bayer announced continued progress in delivering customer-focused, sustainable agricultural innovation in an update with investors. The company’s success in translating research and development (R&D) leadership into differentiated and advanced products for farmers is driving operational performance while shaping the future of agriculture. Progress is being powered by strong commercial execution in a positive market environment, particularly in fungicides and herbicides.
Liam Condon, member of the Board of Management of Bayer and President, Crop Science Division. “Our leading commercial portfolio, digital platform and unmatched innovation are driving significant value for our grower customers. We are confident that the convergence of our technology platforms to drive more customer-centric solutions will deliver above-market sales growth and leading profitability as we look out to 2024.”
Bayer is further strengthening its market position through recently commercialised innovations. The company is successfully upgrading its Roundup Ready 2 Xtend footprint with XtendFlex soybeans, which have already reached approximately 15 million acres this year. Bayer expects to continue to upgrade soybean acres to XtendFlex in the US in the years ahead, thanks to the proven yield benefits and exceptional weed control. In Brazil, the launch of its new Intacta 2 Xtend soy on approximately 600,000 acres is currently underway, as the company upgrades its leading soybean trait platform in South America.
Bayer is supplementing this continued sales momentum in Brazil with fungicides by upgrading its Fox Franchise with Fox Xpro Fungicide. In corn, the company is introducing its corn rootworm 3 (CRW3) technology as part of SmartStax PRO, and the sales rollout for the 2022 launch in the US is underway.
The company anticipates transitioning its 15-million-acre trait SmartStax footprint in the US over the next few years to this new CRW3 technology. Innovations like this protect corn yield, which is made possible by top-performing germplasm. This helps sustain the company’s leading market positions in the top corn markets around the world.
Bayer is also expanding its industry-leading Climate FieldView digital agriculture platform – now being used on more than 180 million subscribed acres across 23 countries. The company is also seeing increased sales of its products among FieldView users.
