Monsanto and competitor to develop herbicide resistant canola seeds
St. Louis, MO –
Agribusiness giant Monsanto announced Monday another agreement with Germany's Bayer CropScience to develop seeds resistant to both companies' herbicides. Each company will sell canola seeds that are resistant to Monsanto's RoundUp and Bayer's Liberty.
Sales of RoundUp and other Monsanto herbicides fell almost 50 percent in the company's third quarter.
Monsanto spokeswoman Danielle Stuart said the decision was not made in an effort to boost sales of its herbicide.
"Farmers may have a greater opportunity to purchase RoundUp or other glyphosate products. However, the focus of this deal is just providing farmers greater flexibility."
Monsanto officials announced plans last week to lay off 900 workers worldwide and to increase the company's focus on bio-engineered seeds.