 "Bayer's researcher in an R&D lab")
Bayer will invest Euro 2.5 billion in R&D for its crop science division to deliver new solutions for sustainable agriculture despite the current difficult business environment. “We are very confident about the long-term growth potential of the agricultural market and are not only continuing to invest in innovation, but have also earmarked Euro 2.5 billion for capital expenditure from 2017 to 2020. The combination of over Euro 1 billion per annum investments in R&D combined with additional infrastructure investments will help ensure a continuous innovative product pipeline that can meet the challenging needs of growers around the world,” said Liam Condon, member of the Bayer board of management and head of the crop science division, yesterday at the company’s ‘Future of Farming Dialog 2016’ in Leverkusen, Germany.
At the Future of Farming Dialog 2016, the future of agriculture was discussed from all angles with diverse experts covering a wide range of topics from the use of satellite technology to smallholder support to integrated solutions to solve key agricultural challenges. “Collaboration is the key - our efforts must be integrated into an entire system of innovation that supports sustainable agriculture,” said Condon.
He outlined the current crop science R&D pipeline with products to be launched from 2015 to 2020, highlighting a combined peak sales potential of more than Euro 5 billion. Beyond 2020, the R&D organisation is working with more than 20 R&D targets in chemical crop protection, six targets for biological crop protection and eight targets for traits. In addition, the breeding programs include nine field crop targets in late development and research and 27 vegetable targets.
Bayer is also taking efforts in the emerging field of digital farming. The company has committed to investing at least Euro 200 million in digital farming between 2015 and 2020 and is currently selling and testing digital farming products in 10 countries with the goal to rapidly expand further and develop a best in class crop protection digital support system.
"Today's consumers are rightly interested in where their food comes from, but are also more removed than ever before from how crops are grown on a farm. It is not just a matter of increasing yields to feed more people, but also of ensuring environmental protection and safeguarding biodiversity. Innovation and sustainability have to go hand-in-hand for the benefit of consumers and the environment,” added Condon.
