BASF targets crop protection sales of €6 billion by 2020

BASF gave a progress report on its integrated farmer-focused approach to agricultural sustainability, first announced in September 2009. Milestones included the assurance of a new method for the comparative assessment of sustainability in agriculture, the creation of a new business pillar charged with developing solutions for resource and stress management and the introduction of integrated solutions to growers’ needs. The company also gave an update on the rapid advancement of its plant biotechnology trait pipeline.

"Our new strategic approach looks at the complex challenges farmers face and offers integrated solutions for greater productivity and profitability on the one hand and environmental as well as social compatibility on the other,” said Dr. Stefan Marcinowski, Member of the Board of Executive Directors, BASF SE. “These solutions come from our crop protection and plant biotechnology pipelines.”

The company also announced a sales target of €6 billion by 2020 for its Crop Protection business. One important pillar of the division’s business will remain mature markets in Europe, North America and Japan. But the company expects even stronger growth from emerging markets. Latin America plays a major role in this growth strategy. Other emerging markets, particularly in Asia, are expected to see significant momentum. The company also named India a core strategic market due to its recent business success and future growth potential. Sales in Asia are expected to increase to €1 billion by 2020 from €400 million in 2010, with the Indian Samruddhi advisory program serving as a blueprint for other Asian countries.