31 maj: MARKET COMMENT: Frankfurt Stocks Close Slightly Lower
31 maj: Consolidated Summary Of May Retail-Sales Results
31-05-2012 18:10:00

DuPont Purchase Of African Seed Company Gives Edge Over Monsanto--Executive

Relateret indhold

DOW JONES NEWSWIRES

DuPont Co.'s (DD) purchase of a South African seed producer, approved after more than a year of regulatory delays, gives it roughly double the market share of Monsanto Co. (MON) in the region, a DuPont executive said.

DuPont's seed subsidiary, Pioneer Hi-Bred, is buying the company, Pannar Seed Ltd., for an undisclosed sum in a deal that was first announced in 2010. An appeals court approved the deal Monday, overturning other regulatory rejections that had delayed the sale.

Pioneer and Pannar, along with St. Louis-based Monsanto Co. (MON), are the top three seed producers in South Africa, with roughly equal market share, said Dan Jacobi, Pioneer's vice president over its commercial business in Africa, Asia-Pacific, China and Europe. Acquiring Pannar gives Pioneer a clear advantage over Monsanto in the region, he said.

A Monsanto spokeswoman said the company has farmers growing its corn, cotton and vegetable seeds in Africa, but did not give a breakdown of its seed sales there.

Opponents of the Pannar deal focused in on the effect of consolidation on competition in a market where the top three seed companies were Pioneer, Monsanto and Pannar. But Jacobi said that without the deal there would ultimately be two large competitors anyway.

"There was no standing still here," he said. "If Pannar wasn't able to find a partner to ramp up their breeding efforts, they wouldn't be viable for very long."

South Africa has been the first country on the continent to adopt genetically modified seeds, but Kenya and Ghana are also "on the road" toward genetically modified corn, Jacobi said. Pannar does business in both countries, which made the deal more attractive to Pioneer, Jacobi said.

Corn yields across sub-Sarahan Africa lag far behind the U.S., due in part to antiquated technologies. African farmers typically yield about 1.5 metric tons per hectare, Jacobi said, versus 10 metric tons in the U.S.

"There's no question in my mind that Africa will get to that level of production," he said.

-By Ian Berry, Dow Jones Newswires; 312-750-4072; ian.berry@dowjones.com; Twitter: @enberry

(END) Dow Jones Newswires

May 31, 2012 12:10 ET (16:10 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Vestas-kunde reducerer havvindmølleprojekt

25-11-2014 15:09:17
Det tyske energiselskab E.On har skåret sin planer for havvindmølleparken Rampion på den britiske sydkyst til, så der nu planlægges med en kapacitet på 400 MW i..

Pandora-forhandler opjusterer forventningerne - NY

25-11-2014 14:05:07
Den amerikanske juvelerkæde Signet Jewelers, der blandt andet forhandler Pandora-smykker i USA, opjusterer i regnskabet for tredje kvartal af regnskabsåret 2014..

Novo: Victoza-rival får grønt lys i Europa

25-11-2014 10:15:30
Novo Nordisk kan nu også se frem til øget konkurrence til sit storsælgende diabetesmiddel Victoza på det det europæiske marked.Den amerikanske medicinalvirksomh..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Coca-Cola-mælk skal få det til at regne med penge - avis
2
Vestas-kunde reducerer havvindmølleprojekt
3
Juncker klar med gigantisk redningsprogram - avis
4
Novo: Victoza-rival får grønt lys i Europa
5
Carnegie i forklaringsproblem efter OW-aktiesalg - avis

Relaterede aktiekurser

Du Pont (E.I.) de Nemour.. 71,68 -0,7% Fald i aktiekurs
Monsanto Co 119,47 -0,9% Fald i aktiekurs
DU Pont DE Nemours 56,96 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Relaterede selskaber
Få adgang til information og anbefalinger af relaterede selskaber med PLUS pakken.

Du får adgang til 7 værdifulde investorværktøjer til investering.

Klik her og læs mere om PLUS pakken.
Euroinvestor i andre lande: Euroinvestor.com | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
26. november 2014 06:16:57
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20141125.1 - EUROWEB7 - 2014-11-26 06:16:57 - 2014-11-26 06:16:57 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x