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Monsanto to invest MX$3 billion in Mexico
Aug. 3, 2017
Monsanto Company
United StatesFollow
United States
Monsanto plans to invest MX$3 billion (US$167 million) in Mexico in the next five years to maintain its research and development strategy in the country.
This was announced by Manuel Bravo, president and general director of the company for North of Latin America. The executive assured growth in revenue of between 3% and 4% in the country and sought to add one million hectares in the line with producers that use GMOs, hybrids or improved methods to boost yields.
“In Mexico, we have nearly 750 employees. From here, we manage the business in Central America, Caribbean, Ecuador, Peru, Venezuela, and Colombia. In all of this region, we are around 1,100 employees. In Mexico, we have more than 60 years with the brands Asgrow and Dekalb. We have four levels of production; seven research centers and our head office is located in Mexico City,” Bravo said.
According to Bravo, in Mexico, sales are between “MX$8 and MX$10 million, which is equivalent to US$500 million, including all vegetable products. It is a relevant operation with corn seeds, cotton, sorghum, and we have 23 vegetable varieties; we manage tomatoes and onion, among others.”
“In agrochemicals, our largest product is Faena, which is a brand leader in glyphosate, which is a selective herbicide with low toxicity that allows a fast management by the farmers. We invest nearly MX$500 million on research and development each year. We will invest nearly MX$3 billion in five years. If you take into account the issues of biotechnology, this could much bigger, it would be double,” he assured.
The executive also shared his plan for Mexico for the one million hectares that currently does not use improved corn soybeans and could use technological packaging, financing, commercialization and technical help to produce not just one ton per hectare, but five or six tons.
“We want to move extensive livestock to a more intensive one in the long-term, everything through a market of silos of corn. Farmers are seeking each time more options to be more productive and they know they are competing with other countries and under unequal circumstances,” Bravo concluded.
Source: AgroNews
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