(CercleFinance.com) – BASF takes stock of its ten-year outlook for agricultural innovation in both seeds and their processing, but also chemical and biological crop protection and digital agriculture solutions.
The idea is to ‘support the food security of future generations, while minimizing the impact of agriculture on the climate and the environment’, says the firm.
The company is focused on improving agricultural outcomes in wheat, canola, soybeans, corn, cotton, rice, and fruits and vegetables, crops that make up more than 50% of global farmland , according to estimates by the Food and Agriculture Organization of the United Nations (FAO).
“Innovations applied on such a large scale therefore have the potential to make agriculture even more productive and sustainable,” says the company.
BASF estimates that its innovation pipeline has an estimated sales potential of more than 7.5 billion euros.
In 2021, the company spent some 900 million euros on R&D in the agricultural solutions segment and assures that it will continue to invest in R&D for agricultural innovations ‘at a high level’ in 2022.
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