Corteva aims to reach 35% market share in transgenic soybeans in Brazil

Corteva Agriscience projects reaching a 35% market share in transgenic soybeans in Brazil, already the company's second-largest market. 

One of the multinational's focuses is expanding its segment participation through Enlist technology, launched three years ago in the South American country.

Corteva's marketing director for Brazil and Paraguay, Felipe Daltro, explained that Enlist E3 soybeans have been gaining good market traction in the United States. The genetically modified seed offers tolerance to glyphosate, ammonium glufosinate, and 2,4-D herbicides.

In Brazil, the commercial brand was named Enlist Conkesta E3, which is resistant to the three herbicides and helps protect against caterpillars. According to Felipe Daltro, Brazil is an even larger market than the United States in terms of planted soybean hectares, with one variety already reaching one million bags of commercialized seeds.

Corteva's marketing director for Brazil and Paraguay explained that the strategy to reach 35% is to address farmers' management challenges and offer varieties with good genetics. For this, the plan is to license the technology to other relevant players in the Brazilian seed market as commercial partners.

Focus on Biological Inputs

Beyond betting on transgenic soybeans, Corteva also intends to reinforce its image as a more "innovative," "sustainable and integrated" company. Recently, the company hosted an event in the Brazilian capital Brasília, gathering investors, researchers, cooperative leaders, distributors, and farmers to present its concept focusing on "hybrid, biotechnology, and biological inputs" as a complement to agrochemicals.

Felipe Daltro stated that one of the priorities is the biological inputs segment for pest and disease control and plant efficiency improvement, such as biostimulants and nutrition. According to him, Corteva awaits approval of new registrations and plans to launch a new corn hybrid with Enlist technology for Brazil's southern region that is more efficacious in managing Amaranthus weeds.

Two new fungicides and a new foliar-application nematicide are also in the pipeline for 2025 or 2026. In biologicals, besides Utrisha, more new products, including those based on genetic editing, are expected, but all depend on approvals. 

Corteva's marketing director for Brazil and Paraguay emphasized that, in Corteva's view, biologicals will represent at least 30% of the pesticide market within ten years.

(Editing by Leonardo Gottems, reporter for AgroPages)