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R & D focus on agrochemicals In the depressed period of agricultural product prices, farmers purchase agricultural chemicals mainly to control production costs within an acceptable range. Therefore, they often choose low-priced products when buying herbicides, insecticides, and fungicides rather than buying products that guarantee better yields. But now the situation is completely different. With the rise in food prices, farmers everywhere have begun to find ways to increase food production. In response to this market change, BASF began to expand the scale of plant protection business, continuously introduced new pesticide products and new dosage forms, and entered the field of genetically modified seeds.
"This is really an era when the agricultural sector and BASF are thrilled," said Michael Hohnz, president of the BASF Plant Protection Department, in a media briefing in Washington in early May. He said, "We cannot find a panacea that can ensure the sustainable supply of food, but it is certain that agrochemicals and biotechnology can contribute to solving this problem."
At present, food production has become the focus of global attention. Some analysts even predict that high food prices will be maintained for at least 10 years. The U.S. Department of Agriculture also stated that the rise in food prices will be a long-term international trend. This trend has made agriculture's scientific and technological innovation activities very attractive.
For BASF, the current task is to seize the opportunity to vigorously develop the agrochemicals business. At present, this part of BASF's business is mainly composed of herbicides and fungicides. Its sales in 2007 were US$4.3 billion, which is less than 6% of total sales. However, this year, BASF plans to invest 23% of its R&D budget of US$2 billion in the agrochemical sector, which is far higher than other business sectors. Through innovative activities, BASF strives to achieve a profit margin of 25% for its agrochemical business.
New herbicides challenge glyphosate At present, BASF has developed several new pesticide varieties and plans to launch them on the market next year. Herbicides such as Kixor can be used to remove broadleaf which is resistant to glyphosate. The emergence of this type of broad-leafed grass has challenged the most commonly used herbicide glyphosate.
Although as early as 2002 Monsanto's glyphosate herbicides and seed products had already dominated the market, BASF believes that it should have its own research and development achievements, so it continues to invest in herbicide research and development. In 2003, glyphosate-resistant weeds appeared in the fields of Virginia and Indiana in the United States. Currently there are 14 kinds of weeds that are resistant to glyphosate. . BASF’s insistence was finally put to use.
According to estimates by experts, the overall market size of such broadleaf herbicides currently ranges from 5 billion to 6 billion U.S. dollars per year, accounting for one-third of the global market for herbicides. If Kixor can successfully integrate with other herbicides including glyphosate in the field, its sales can reach up to 200-300 million U.S. dollars per year.
Innovating and developing an alliance with Monsanto In addition to the new weed herbicide, BASF also developed other new products. The company expects its current market value for new products in the field of agrochemicals will total up to US$1.5 billion. BASF also carried out a large number of innovative activities in the formulation of pesticides, such as the company has just recently developed an isocyanate polymer, which can be used to disperse the active ingredients of new pesticides into water droplets without using organic solvents. .
In addition, BASF researchers have also developed new uses for agrochemical products to promote plant growth. Under controlled conditions, BASF's fungicides F500 and Boscalid can enhance the photosynthesis of tomato plants. With this effect, farmers can produce more fruits. BASF's innovative activities on existing pesticide species also include seed processing technologies. BASF has successfully developed nine products in this area and it is expected that the market size of such products will increase to US$600 million by 2010.
In terms of seed technology research and development, BASF has formed an alliance with Monsanto. The current cooperative research has been carried out for one year, with emphasis on improving the production of corn, cotton and soybeans. The immediate goal of the R&D alliance is to increase plant yields and drought resistance by combining plant characteristics with gene research libraries. The first product of the two companies, drought-tolerant corn, has been identified for listing in 2012.
Increasing acceptance of GM crops Regardless of how many breakthroughs have been made, BASF and its partners and competitors must now seek to dispel public concerns about GM crops. Those who are critical of GM crops still believe that they may have an impact on human security and the environment. However, as food prices have risen all the way, this criticism may be getting smaller and smaller. Experts said that since the rise in food prices, people’s awareness of GM crops has become higher and higher.
However, there are also organizations that are skeptical about the use of biotechnology to increase crop yields and thus reduce the pressure on high food prices. They believe that many people's proposals for significantly increasing grain yields for genetically modified crops are unacceptable and unacceptable. For the time being, GM crops have not shown signs of a significant increase in production. In contrast, GM soybeans that can tolerate herbicides have been reduced in yield.
Despite these difficulties, BASF has no intention of giving up biotechnology. The company firmly believes that biotechnology must be the next wave of plant protection. An executive from BASF stated that GM crops have not been accepted in the EU for a long time, but after intense discussions, the EU has recognized that people's demand for GM crops is very strong and has begun to accept such products. At present, the EU’s food is mainly dependent on imports. Soon the EU will rely on genetically modified soybeans imported from the United States and Latin America to feed animals.
Chemical giant invests heavily in biotechnology
After more than 20 years of downturn, the global food market has entered an era of price increases. In this context, farmers will be willing to invest in the fields to produce more food than ever before. Based on this understanding, the chemical giant BASF has shifted its investment and R&D focus to biotechnology, and even formed alliances with rival Monsanto, hoping to grab market opportunities in the agrochemical sector.