USDA FORUM: Syngenta CEO: Biotech Sugarbeet Seed Sales Up
February 26 2009 - 5:01PM
Dow Jones News
Syngenta's (SYT) decision last year to begin selling biotech
sugarbeet seeds in the U.S. has been extremely profitable, Chief
Executive Michael Mack said Thursday.
Mack, who sat down with Dow Jones Newswires during the U.S.
Department of Agriculture's annual Agricultural Outlook Forum, said
Syngenta's U.S. market share for sugarbeet seeds rose to 35% in
2008, up from 19%.
Weed management in sugarbeet fields is a major issue for
producers, Mack said, and the company's biotech seed is recognized
for its ability to help because of its tolerance of glyphosate, a
common herbicide.
"Farmers flocked to our germplasm and traits," Mack said.
Rival Monsanto Co. (MON) also has a biotech sugarbeet variety,
which is also glyphosate-resistant.
The Monsanto variety was approved for use in 2005, but biotech
sugarbeets in general took a while to gain popularity because food
and environmental groups raised concerns about the safety of sugar
made from genetically modified beets.
However, most countries with major sugar beet markets have
approved herbicide-resistant varieties for use.
-By Bill Tomson, Dow Jones Newswires; 202-646-0088;
bill.tomson@dowjones.com