BASF’s new focused approach boosts agricultural innovation pipeline by 25%

March 1, 2020 |

In Germany, BASF expects a well-stocked agricultural pipeline with projected peak sales potential of more than $8.2 billion (7.5 billion). By 2029, the company will launch more than 30 key projects, including novel seeds and traits, chemical and biological crop protection, digital products and new formulations.

BASF will build on its research and development (R&D) investment for agricultural solutions over recent years with a planned expenditure in 2020 around the prior-year level. In 2019 alone, the company spent €879 million in research and development in the Agricultural Solutions division; representing around 11% of sales for the segment.

BASF’s innovation pipeline is focused on new technologies and solutions for four strategic customer segments and their respective crop systems:

  1. soy, corn, cotton;
  2. wheat, canola (oilseed rape), sunflowers;
  3. rice;
  4. fruit and vegetables.

An example of the company’s R&D innovation strength is demonstrated through strong pipeline projects in the crop system that includes wheat, canola (oilseed rape), sunflower – addressing a market valued at around €12 billion. In this market, BASF is developing innovative solutions for climate resilient farming with higher yielding as well as drought and heat tolerant crops that require fewer resources, such as water and plant protection products. They enable farmers to sustainably increase yields and reduce tillage, thereby minimizing erosion and greenhouse gas emissions.

Category: Fuels

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