BASF to put sharper focus on agriculture
The German concern BASF announced an increased projected peak sales potential for agricultural solutions in the amount of over 7.5 billion euros. By 2029, the company will launch more than 30 key projects, including chemical and biological crop protection and digital products.
As part of its agricultural development strategy, BASF will pay sharper attention to integrated solutions for farmers, which will increase their business efficiency and at the same time protect the environment. The company will build on its own research and development to implement the strategy (in 2019 alone, the company spent 879 million euros in research and development in the Agricultural Solutions division).
“Agriculture is so central to our lives that it has a powerful impact on everyone. That’s why we must address the environmental, climate and societal challenges that are becoming more pressing every day… Our aim is to find practical solutions that enable higher yielding and more stress-tolerant crop production, reduce farming’s carbon dioxide footprint and increase biodiversity,” said Vincent Gros, President of BASF’s Agricultural Solutions division.