Farm News, Friday June 24th, 2016

DuPont, Bayer Launch Agriculture Startup Venture

DuPont, Bayer AG, the venture capital firm Finistere Ventures, along with two others have launched a $15-million accelerator fund known as Radicle that will back startup agriculture technology companies. Pro Farmer’s First Thing Today reports that many companies have jumped into the billion dollar agriculture-tech startup industry, hoping to profit from increasingly sophisticated tools regarding seed traits, weather sensors and unmanned aerial vehicles, among other technologies. For Bayer and DuPont, the venture may bring access to new research to address or complement gaps in their product lines.

Monsanto, Argentina, Agree to Royalties Collection Pact

Monsanto and Argentina have announced an agreement regarding the collection of royalties of genetically modified soybeans in Argentina. The agreement ends years of dispute between the world’s largest seed company and the third-largest grower of soybeans, according to Bloomberg News. Under the agreement, Argentina will have full control of seed commercialization to ensure private companies like Monsanto will be able to collect royalties’ payments. The agreement represents a cultural shift for Argentine farmers, who have generally avoided paying royalties to seed companies by using GMO seeds saved from previous harvests or purchased from non-registered suppliers. The agreement should help secure revenue for Monsanto from its third-largest market, after the U.S. and Brazil.

NAFB News