The growth was particularly strong at Corn Seed & Traits, driven by gains in North America
The Bayer Group registered a significant increase in sales and earnings in the third quarter of 2021. The company posted substantial growth in the agricultural business.
In the agricultural business (Crop Science), sales rose by 25.8 per cent to 3.850 billion euros thanks to a substantial increase in volumes and prices. Growth was particularly strong at Corn Seed & Traits, driven by gains in North America due to lower product returns and the later receipt of license revenues. As expected, these license revenues were recorded in the third quarter this year as opposed to the second quarter as in 2020. Sales also advanced in Latin America due to the launch of the new VTPro4 trait for improved pest control as well as higher volumes and prices.
Soybean Seed & Traits also registered strong growth, driven by gains in North America – due to lower product returns and higher license revenues – and in Latin America as a result of higher prices and volumes.
