Corteva to ramp up production of biotech seeds
BPC Staff Jan 30, 2020 | 9:12 pm
1 min read time123 wordsAll Latest News, Energy & Environment, Tech & Innovation
Corteva Inc. intends to accelerate sales of its proprietary genetically engineered seeds over the next five years while reducing its reliance on high-tech crop genes licensed from Bayer AG, the Wall Street Journal reported. The company, formed last year from the agricultural businesses of Dow Chemical and DuPont, said it is ramping up production of its Enlist soybean seeds and related weedkiller. Corteva said it expects its Enlist seeds to be planted on 20% of U.S. soybean acres this year, double the company’s previous estimate. Corteva also announced a fourth-quarter operating loss of $42 million, with full-year earnings from continuing operations of $26 million, or 2 cents per share. Net sales for the fourth quarter increased 6% versus the same period last year.