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Monsanto Trying to Penetrate The South American Market With RR2
Jan. 12, 2011
Susquehanna is reiterating their Positive rating on shares of Monsanto (NYSE: MON), as the company announced that they have received regulatory approval for planting in Brazil. Currently they are also trying to secure export approvals in key markets such as the EU and China. Insect Protected RR2 is expected to raise annual revenue in Brazil alone to $250M-$300M by 2020. It is also the first MON trait developed specifically for a non-U.S. market.
The firm reports that, "MON has applied for Argentine planting approval for Insect Protected RoundupReady2Yield soybeans following an agreement reached in December with northern Argentine soy growers to pay Monsanto for the technology if they use the seed."
For more ratings news on Monsanto click here and for the rating history of Monsanto click here.
Shares of Monsanto closed at $71.79 yesterday, with a 52 week range of $44.61-$87.06.
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