- Global trends are changing supply and demand patterns for agriculture worldwide, creating a new dynamic. Growing wealth and populations in Asia are leading to new demands that favor the US as a low-cost corn producer.
- Increasing protein demand over the next decade is expected, as wealth drives increased meat consumption globally. This disproportionately increases demand for grain, with estimates of pounds of grain needed per pound of beef, pork, or chicken produced.
- Emerging countries like China and Brazil are reaching domestic production limits, driving changes in global export markets and advantages for countries like the US, Argentina, and Brazil based on land availability and geographic proximity.
This document provides an overview of Monsanto's strategy and financial performance. It discusses how Monsanto is positioned for growth through 2022 by focusing on innovation and expanding its seed and trait portfolio globally. Key points include:
- Monsanto has grown its gross profit and ongoing EPS significantly from 2004-2008 through its seeds and genomics segment, driven by innovative solutions and seed share gains.
- Its seed base and portfolio of patented traits have created unmatched capabilities in major crops like corn, soybeans, and cotton.
- Brands like DEKALB and ASI are gaining share in corn as investment in breeding delivers yield advantages over competitors.
- Triple-stack corn trait penetration exceeded expectations in 2008
Brett Begemann is the Executive Vice President of Global Commercial at Monsanto. This document provides an overview of:
1) Changing global market forces are increasing demand for feed and fuel, stretching global supply and requiring increased productivity per acre.
2) Monsanto is on track to double gross profit by 2012 through the rollout of new product drivers in corn, cotton, soybeans, and its pipeline.
3) In the U.S., DEKALB and ASI corn shares are expected to increase in 2008, positioning Monsanto for further growth through 2012.
Seminis is focused on developing new vegetable seed products, particularly in high-value crops like tomatoes, peppers, cucumbers, and melons. One key product is a raised head broccoli variety that enables mechanical harvesting, which can significantly reduce labor costs compared to traditional broccoli harvesting. Seminis is developing commercial raised head broccoli varieties and testing prototypes to prepare for product launches targeting major markets like the U.S., U.K., and Spain. The new variety is expected to bring the cost of harvesting into the value of the seed.
Farmers purchase seeds from multiple brands and dealers to diversify their risk. They typically plant 3-4 brands and 5-8 varieties of corn, with 60% selecting germplasm first before choosing biotech traits. Purchases are made from 2-3 dealers in November and December. 38% of the corn is the latest top-yielding hybrids, with the goal of maximizing yield while minimizing risk through genetic diversity.
1) The document discusses Carl Casale's presentation at the 19th Annual Chemical Conference on September 20, 2006.
2) It provides an overview of increasing global demand for grain and how this is leading to fundamental shifts favoring corn and soybean production in the US.
3) The presentation outlines how farmers' seed purchasing decisions are driven by maximizing yield potential through high-performing seeds and crop protection traits.
NERVOUS grain and oilseed markets rose above last year’s summer highs to near three-year peaks toward the end of first quarter 2010 – though wheat and soya prices are backtracking steeply as we go to press.
Agcapita is Canada's only RRSP and TFSA eligible farmland fund and is part of a family of funds with almost $100 million in assets under management. Agcapita believes farmland is a safe investment, that supply is shrinking and that unprecedented demand for "food, feed and fuel" will continue to move crop prices higher over the long-term. Agcapita created the Farmland Investment Partnership to allow investors to add professionally managed farmland to their portfolios. Agcapita publishes a monthly Agriculture Brief which deals with agriculture specific investment issues along with big picture macro-economic issues.
This document provides an overview and summary from Carl Casale, Executive Vice President of Monsanto, at the UBS Best of Americas Conference on September 20, 2007. It discusses trends in global agricultural production, Monsanto's opportunities to maximize growth, developments in U.S. corn and cotton markets, and the potential for expansion of biotech traits internationally. Key points include rapid adoption of biotech traits creating increased opportunities, a new 8-gene corn product in development, and significant room for growth in markets outside the U.S.
This document provides an overview of Monsanto's strategy and financial performance. It discusses how Monsanto is positioned for growth through 2022 by focusing on innovation and expanding its seed and trait portfolio globally. Key points include:
- Monsanto has grown its gross profit and ongoing EPS significantly from 2004-2008 through its seeds and genomics segment, driven by innovative solutions and seed share gains.
- Its seed base and portfolio of patented traits have created unmatched capabilities in major crops like corn, soybeans, and cotton.
- Brands like DEKALB and ASI are gaining share in corn as investment in breeding delivers yield advantages over competitors.
- Triple-stack corn trait penetration exceeded expectations in 2008
Brett Begemann is the Executive Vice President of Global Commercial at Monsanto. This document provides an overview of:
1) Changing global market forces are increasing demand for feed and fuel, stretching global supply and requiring increased productivity per acre.
2) Monsanto is on track to double gross profit by 2012 through the rollout of new product drivers in corn, cotton, soybeans, and its pipeline.
3) In the U.S., DEKALB and ASI corn shares are expected to increase in 2008, positioning Monsanto for further growth through 2012.
Seminis is focused on developing new vegetable seed products, particularly in high-value crops like tomatoes, peppers, cucumbers, and melons. One key product is a raised head broccoli variety that enables mechanical harvesting, which can significantly reduce labor costs compared to traditional broccoli harvesting. Seminis is developing commercial raised head broccoli varieties and testing prototypes to prepare for product launches targeting major markets like the U.S., U.K., and Spain. The new variety is expected to bring the cost of harvesting into the value of the seed.
Farmers purchase seeds from multiple brands and dealers to diversify their risk. They typically plant 3-4 brands and 5-8 varieties of corn, with 60% selecting germplasm first before choosing biotech traits. Purchases are made from 2-3 dealers in November and December. 38% of the corn is the latest top-yielding hybrids, with the goal of maximizing yield while minimizing risk through genetic diversity.
1) The document discusses Carl Casale's presentation at the 19th Annual Chemical Conference on September 20, 2006.
2) It provides an overview of increasing global demand for grain and how this is leading to fundamental shifts favoring corn and soybean production in the US.
3) The presentation outlines how farmers' seed purchasing decisions are driven by maximizing yield potential through high-performing seeds and crop protection traits.
NERVOUS grain and oilseed markets rose above last year’s summer highs to near three-year peaks toward the end of first quarter 2010 – though wheat and soya prices are backtracking steeply as we go to press.
Agcapita is Canada's only RRSP and TFSA eligible farmland fund and is part of a family of funds with almost $100 million in assets under management. Agcapita believes farmland is a safe investment, that supply is shrinking and that unprecedented demand for "food, feed and fuel" will continue to move crop prices higher over the long-term. Agcapita created the Farmland Investment Partnership to allow investors to add professionally managed farmland to their portfolios. Agcapita publishes a monthly Agriculture Brief which deals with agriculture specific investment issues along with big picture macro-economic issues.
This document provides an overview and summary from Carl Casale, Executive Vice President of Monsanto, at the UBS Best of Americas Conference on September 20, 2007. It discusses trends in global agricultural production, Monsanto's opportunities to maximize growth, developments in U.S. corn and cotton markets, and the potential for expansion of biotech traits internationally. Key points include rapid adoption of biotech traits creating increased opportunities, a new 8-gene corn product in development, and significant room for growth in markets outside the U.S.
The document discusses Monsanto's R&D pipeline and future product opportunities. Key points include: 1) Development of a drought tolerant corn product that has shown yield improvements of up to 12 bushels per acre in water stressed conditions. 2) The drought tolerant corn is currently in field testing and represents a large market opportunity in the U.S., Brazil, Argentina, and Europe. 3) Monsanto's pipeline also includes new biotech traits for soybeans and cotton that could lead to 3-trait stacks by the mid to late next decade.
The document discusses emerging macro trends in global agricultural production over the next decade for corn, soybeans, and cotton. It outlines how Monsanto is well positioned to capitalize on opportunities presented by these trends through solutions like nitrogen-utilization corn, drought-tolerant traits, and an improved-oils soybean platform. The summary also provides Monsanto's international growth priorities and outlook for 2010 in key areas like increasing Roundup Ready soybean penetration in Brazil and expanding cotton traits in India and Argentina.
Click here to download application form of Dsp World Agriculture Fund:
http://www.scribd.com/doc/67557185/Dsp-World-Agriculture-Fund-Application-Form
To download other Mutual Fund Application Form click here:
http://corpusmoney.wordpress.com/2011/10/03/mutual-fund-application-forms/
1) Monsanto has opportunities to grow its market share and gross profit in key international corn markets like France, Italy, Hungary, Turkey, South Africa, Mexico, and India.
2) The value per acre varies by country, with France, Italy, Hungary, and Mexico representing medium-to-high value opportunities.
3) Monsanto aims to expand its hybrid corn market share in each of the largest corn-growing countries through molecular breeding applications and biotech traits.
Proposes formation of equity backed global food company to source, process and sell branded rice, wheat, soybeans and fresh/frozen meat products produced in Uruguay, Argentina, Brazil, and Paraguay to Middle Eastern markets.
This report summarizes the global meat market and opportunities for Pakistani meat exporters. The global red meat trade has grown significantly, though Pakistan's exports are low at 30,000 tonnes annually. Key target markets identified are Iran, Saudi Arabia, UAE, and Malaysia due to growing demand, import reliance, and Pakistan's competitive advantages in production costs and shipping times. Pakistan has large livestock populations and the potential to be a major meat exporter.
The document provides information about accessing venture capital funding from SEAF India Agribusiness Fund for small agribusiness enterprises in India. It outlines the growth opportunities in Indian agriculture and food processing sectors. It then describes SEAF India Agribusiness Fund's focus on investing in food value chain companies and criteria for evaluating potential investments. Finally, it discusses the typical process an entrepreneur would go through to approach SEAF for funding, including understanding capital needs, preparing a pitch, undergoing due diligence, and collaborating post-investment.
AGCO Corporation is the third largest manufacturer and distributor of agricultural equipment in the world. It sells a range of equipment including tractors, combines, sprayers, and other tools. AGCO markets its products under brands like Massey Ferguson and Fendt through a global network of over 3,000 independent dealers and distributors. The document provides details on AGCO's product lines, marketing and distribution operations, and strategies to support its dealer network.
Food Prices and Food Security: Overview of
Existing Data and Policy Tools and Identification of Gaps
Presented by Maximo Torero at the AGRODEP Workshop on Analytical Tools for Food Prices
and Price Volatility
June 6-7, 2011 • Dakar, Senegal
For more information on the workshop or to see the latest version of this presentation visit: http://www.agrodep.org/first-annual-workshop
Brett Begeman, Executive Vice President of International Commercial at Citigroup Investment Research, presented at the 16th Annual Investment Conference on December 7, 2005. The presentation included forward-looking statements and defined non-GAAP financial measures. It provided an overview of Monsanto's two-step strategy to grow its current portfolio globally and lead through innovation. Monsanto sources the world's corn and soy needs, and acceleration in seeds and traits is driving commercial gross profit evolution.
This document provides an overview of Monsanto's strategy and financial performance. It discusses how Monsanto is positioned for growth through 2022 by focusing on innovation and expanding its seed and trait portfolio globally. Key points include:
- Monsanto has grown its gross profit and ongoing EPS significantly from 2004-2008 through its seeds and genomics segment, driven by innovative solutions and seed share gains.
- Its seed base and portfolio of patented traits have created unmatched capabilities in major crops like corn, soybeans, and cotton.
- Brands like DEKALB and ASI are gaining share in corn as investment in breeding delivers yield advantages over competitors.
- Triple-stack corn trait penetration exceeded expectations in 2008
Brett Begemann, Executive Vice President of Global Commercial at Monsanto, presented at the Credit Suisse Conference on March 10, 2008. The presentation discussed (1) changing global supply and demand dynamics in agriculture increasing productivity demands; (2) Monsanto's strategy and pipeline to double gross profits by 2012 through new product launches and market share gains across corn, soybeans, and cotton in both domestic and international markets; and (3) near-term opportunities for 2008 including expected US market share increases in corn and soybeans.
The document discusses Hugh Grant's presentation at the Sanford Bernstein Strategic Decisions Conference on May 28, 2008. It includes forward-looking statements about Monsanto's financial projections and products, along with risks and uncertainties. The presentation then provides an overview of changing global supply and demand dynamics in agriculture and opportunities to optimize corn yields around the world.
1) Monsanto's strategy is to double crop yields by 2030 through innovation to meet growing global demand.
2) Monsanto aims to more than double its seeds and traits platform gross profit by 2012 by focusing on corn, soybean, and cotton seeds and traits.
3) Monsanto's growth strategy has two steps - first establish seed footprint through breeding, then layer on additional value through biotech traits.
The document provides an overview of Monsanto's European Key Investor Tour scheduled from November 3-7, 2008. It includes forward-looking statements about anticipated financial results and business plans. It also notes trademarks owned by Monsanto and its subsidiaries. The strategic outlook section discusses factors driving continued global demand for corn and soybeans. It outlines Monsanto's goal of doubling crop yields by 2030 through innovation to meet this demand and ensure the company's competitive advantage. Financial projections through 2012 indicate growth in seeds and traits gross profit, driven by corn and soybean seed and traits. The document also reviews Monsanto's strategic focus on seed platforms, expansion of biotech traits, and cash usage primarily for acquisitions and technology
Agriculture Sector in India, Indian Agriculture IndustryBruce Clay India
Indian agriculture is on a long-term growth path. The country is the second-largest producer of food in the world and holds the potential of being the biggest on global food and agriculture canvas, according to a Corporate Catalyst India (CCI) survey.
Agriculture sector in India contributes 16% of GDP & 10% of export earnings. Agricultural Development in India has led to exports of agricultural products worth US$ 22 Billion by 2014. More statistics here.
This document discusses opportunities for increasing global food and agricultural production through investment. It notes that food demand is projected to increase 70% by 2050 due to population and income growth. However, land and water resources are scarce. There are high potential gaps between current production levels and capacity in regions like Latin America, the Black Sea Region, and Africa due to favorable natural conditions. The document promotes increasing agricultural investment to $83 billion annually by 2050, a 50% rise from the past decade's average, to boost output and meet rising demand. It provides examples of IFC investment and advisory programs in Ukraine to improve access to finance, production efficiencies, and supply chain development in the agricultural sector.
The USDA revised its estimates of broiler and turkey production upwards for 2013. Broiler production is now estimated at 37.519 billion pounds, up 1.7% from last month's estimate and 2.4% higher than 2012 levels. Turkey production is estimated at 6.094 billion pounds, up 2.5% from last month and 3.5% above 2012. The poultry industry appears to have weathered higher feed costs better than expected. Egg sets are up 1.3% from a year ago and production gains in chicken and turkey may impact red meat prices in the short term by providing more affordable protein options.
anric blatt, lauralouise duffy, global fund exchange, earth wind & fire fund, investing in agriculture, investing in water, investing in the future of energy
This document discusses several challenges facing global agriculture between now and 2050, including population growth, decreasing arable land, climate change, and declining productivity. It notes increasing demand for food will need to be met with decreasing resources. Charts show rising population and declining wheat production area. The document calls for increased productivity and profitability through improved practices, technologies, and policies to help ensure sustainable and competitive agriculture can meet future needs.
The document discusses Monsanto's R&D pipeline and future product opportunities. Key points include: 1) Development of a drought tolerant corn product that has shown yield improvements of up to 12 bushels per acre in water stressed conditions. 2) The drought tolerant corn is currently in field testing and represents a large market opportunity in the U.S., Brazil, Argentina, and Europe. 3) Monsanto's pipeline also includes new biotech traits for soybeans and cotton that could lead to 3-trait stacks by the mid to late next decade.
The document discusses emerging macro trends in global agricultural production over the next decade for corn, soybeans, and cotton. It outlines how Monsanto is well positioned to capitalize on opportunities presented by these trends through solutions like nitrogen-utilization corn, drought-tolerant traits, and an improved-oils soybean platform. The summary also provides Monsanto's international growth priorities and outlook for 2010 in key areas like increasing Roundup Ready soybean penetration in Brazil and expanding cotton traits in India and Argentina.
Click here to download application form of Dsp World Agriculture Fund:
http://www.scribd.com/doc/67557185/Dsp-World-Agriculture-Fund-Application-Form
To download other Mutual Fund Application Form click here:
http://corpusmoney.wordpress.com/2011/10/03/mutual-fund-application-forms/
1) Monsanto has opportunities to grow its market share and gross profit in key international corn markets like France, Italy, Hungary, Turkey, South Africa, Mexico, and India.
2) The value per acre varies by country, with France, Italy, Hungary, and Mexico representing medium-to-high value opportunities.
3) Monsanto aims to expand its hybrid corn market share in each of the largest corn-growing countries through molecular breeding applications and biotech traits.
Proposes formation of equity backed global food company to source, process and sell branded rice, wheat, soybeans and fresh/frozen meat products produced in Uruguay, Argentina, Brazil, and Paraguay to Middle Eastern markets.
This report summarizes the global meat market and opportunities for Pakistani meat exporters. The global red meat trade has grown significantly, though Pakistan's exports are low at 30,000 tonnes annually. Key target markets identified are Iran, Saudi Arabia, UAE, and Malaysia due to growing demand, import reliance, and Pakistan's competitive advantages in production costs and shipping times. Pakistan has large livestock populations and the potential to be a major meat exporter.
The document provides information about accessing venture capital funding from SEAF India Agribusiness Fund for small agribusiness enterprises in India. It outlines the growth opportunities in Indian agriculture and food processing sectors. It then describes SEAF India Agribusiness Fund's focus on investing in food value chain companies and criteria for evaluating potential investments. Finally, it discusses the typical process an entrepreneur would go through to approach SEAF for funding, including understanding capital needs, preparing a pitch, undergoing due diligence, and collaborating post-investment.
AGCO Corporation is the third largest manufacturer and distributor of agricultural equipment in the world. It sells a range of equipment including tractors, combines, sprayers, and other tools. AGCO markets its products under brands like Massey Ferguson and Fendt through a global network of over 3,000 independent dealers and distributors. The document provides details on AGCO's product lines, marketing and distribution operations, and strategies to support its dealer network.
Food Prices and Food Security: Overview of
Existing Data and Policy Tools and Identification of Gaps
Presented by Maximo Torero at the AGRODEP Workshop on Analytical Tools for Food Prices
and Price Volatility
June 6-7, 2011 • Dakar, Senegal
For more information on the workshop or to see the latest version of this presentation visit: http://www.agrodep.org/first-annual-workshop
Brett Begeman, Executive Vice President of International Commercial at Citigroup Investment Research, presented at the 16th Annual Investment Conference on December 7, 2005. The presentation included forward-looking statements and defined non-GAAP financial measures. It provided an overview of Monsanto's two-step strategy to grow its current portfolio globally and lead through innovation. Monsanto sources the world's corn and soy needs, and acceleration in seeds and traits is driving commercial gross profit evolution.
This document provides an overview of Monsanto's strategy and financial performance. It discusses how Monsanto is positioned for growth through 2022 by focusing on innovation and expanding its seed and trait portfolio globally. Key points include:
- Monsanto has grown its gross profit and ongoing EPS significantly from 2004-2008 through its seeds and genomics segment, driven by innovative solutions and seed share gains.
- Its seed base and portfolio of patented traits have created unmatched capabilities in major crops like corn, soybeans, and cotton.
- Brands like DEKALB and ASI are gaining share in corn as investment in breeding delivers yield advantages over competitors.
- Triple-stack corn trait penetration exceeded expectations in 2008
Brett Begemann, Executive Vice President of Global Commercial at Monsanto, presented at the Credit Suisse Conference on March 10, 2008. The presentation discussed (1) changing global supply and demand dynamics in agriculture increasing productivity demands; (2) Monsanto's strategy and pipeline to double gross profits by 2012 through new product launches and market share gains across corn, soybeans, and cotton in both domestic and international markets; and (3) near-term opportunities for 2008 including expected US market share increases in corn and soybeans.
The document discusses Hugh Grant's presentation at the Sanford Bernstein Strategic Decisions Conference on May 28, 2008. It includes forward-looking statements about Monsanto's financial projections and products, along with risks and uncertainties. The presentation then provides an overview of changing global supply and demand dynamics in agriculture and opportunities to optimize corn yields around the world.
1) Monsanto's strategy is to double crop yields by 2030 through innovation to meet growing global demand.
2) Monsanto aims to more than double its seeds and traits platform gross profit by 2012 by focusing on corn, soybean, and cotton seeds and traits.
3) Monsanto's growth strategy has two steps - first establish seed footprint through breeding, then layer on additional value through biotech traits.
The document provides an overview of Monsanto's European Key Investor Tour scheduled from November 3-7, 2008. It includes forward-looking statements about anticipated financial results and business plans. It also notes trademarks owned by Monsanto and its subsidiaries. The strategic outlook section discusses factors driving continued global demand for corn and soybeans. It outlines Monsanto's goal of doubling crop yields by 2030 through innovation to meet this demand and ensure the company's competitive advantage. Financial projections through 2012 indicate growth in seeds and traits gross profit, driven by corn and soybean seed and traits. The document also reviews Monsanto's strategic focus on seed platforms, expansion of biotech traits, and cash usage primarily for acquisitions and technology
Agriculture Sector in India, Indian Agriculture IndustryBruce Clay India
Indian agriculture is on a long-term growth path. The country is the second-largest producer of food in the world and holds the potential of being the biggest on global food and agriculture canvas, according to a Corporate Catalyst India (CCI) survey.
Agriculture sector in India contributes 16% of GDP & 10% of export earnings. Agricultural Development in India has led to exports of agricultural products worth US$ 22 Billion by 2014. More statistics here.
This document discusses opportunities for increasing global food and agricultural production through investment. It notes that food demand is projected to increase 70% by 2050 due to population and income growth. However, land and water resources are scarce. There are high potential gaps between current production levels and capacity in regions like Latin America, the Black Sea Region, and Africa due to favorable natural conditions. The document promotes increasing agricultural investment to $83 billion annually by 2050, a 50% rise from the past decade's average, to boost output and meet rising demand. It provides examples of IFC investment and advisory programs in Ukraine to improve access to finance, production efficiencies, and supply chain development in the agricultural sector.
The USDA revised its estimates of broiler and turkey production upwards for 2013. Broiler production is now estimated at 37.519 billion pounds, up 1.7% from last month's estimate and 2.4% higher than 2012 levels. Turkey production is estimated at 6.094 billion pounds, up 2.5% from last month and 3.5% above 2012. The poultry industry appears to have weathered higher feed costs better than expected. Egg sets are up 1.3% from a year ago and production gains in chicken and turkey may impact red meat prices in the short term by providing more affordable protein options.
anric blatt, lauralouise duffy, global fund exchange, earth wind & fire fund, investing in agriculture, investing in water, investing in the future of energy
This document discusses several challenges facing global agriculture between now and 2050, including population growth, decreasing arable land, climate change, and declining productivity. It notes increasing demand for food will need to be met with decreasing resources. Charts show rising population and declining wheat production area. The document calls for increased productivity and profitability through improved practices, technologies, and policies to help ensure sustainable and competitive agriculture can meet future needs.
Global animal protein production faces ongoing challenges and uncertainties in 2023 that will impact growth opportunities. High costs along the entire supply chain from feed to transportation will continue due to elevated commodity prices and energy costs. Disease risks also remain for many regions. Companies will need to focus on cost management, efficiency, and adapting business models to navigate these difficulties and pursue opportunities for growth in a constrained environment.
- Pork production reached record high levels in Q4 2012 despite warnings about high feed costs reducing meat supplies. However, pork production trends had shifted downward beginning in 2008 with the surge in corn prices above $4/bushel.
- Prior to 2008, all major meat production species were growing steadily each quarter. The spike in grain costs disrupted this and caused production cuts, especially after prices rose above $6-7/bushel.
- Had grain costs not increased as sharply, meat production for all species would be significantly higher now, providing billions of additional pounds of protein for consumers each quarter.
This document discusses trends in the agricultural industry and Monsanto's strategies to address them. It notes that demand for corn will remain strong but nitrogen costs are rising, so Monsanto aims to develop nitrogen-efficient corn to reduce farmer costs. For soybeans, it aims to develop new traits as production shifts to higher-value segments to meet demands for yield and oil content. For cotton, boosting yields is key as production moves to higher-value markets. Monsanto seeks drought-tolerant and water-efficient traits to address water usage challenges across crops.
Broiler supplies are expected to remain tight through the first half of 2013 due to high feed costs depressing producer margins. The latest USDA report showed a 3.5% reduction in broiler egg sets for the week ending October 20 compared to the same period last year, representing the smallest number of broiler egg sets since March 1994. While one week does not make a trend, the data indicates broiler producers remain in contraction mode due to record high feed prices.
The document discusses Monsanto bringing its research plots to the Farm Progress Show, the largest outdoor farm show in the United States, for the second year. This gives Monsanto's customers the opportunity to see cutting-edge research performing in the field. Monsanto's presentation highlights advances across its platforms in traits, cotton, soybeans, breeding technology, and yield and stress tolerance. The company also discusses its annual R&D cycle and pipeline of potential blockbuster traits.
A summary of OECD-FAO's agricultural outlook for 2024, this article observes agricultural commodities' projections for emerging nations vs. the developed world.
Much of the volatility witnessed in commodity markets in the previous decade is set to balance in the coming 10 years.
Mafm the case for investing in dairy (2011)Joanna T.
This document discusses the demand and supply dynamics of the global dairy market. On the demand side, consumption is growing rapidly in emerging economies as incomes rise and diets shift towards higher protein options. Urbanization is also fueling demand as distribution and access to dairy products expands. While demand has been flat in developed nations, recovery is expected. Key growth regions are East and Southeast Asia as well as South America. Per capita consumption in these areas remains well below global averages, indicating further upside potential. Health benefits of dairy are also supporting consumption trends.
- Argentina is a major global producer and exporter of beef, but the industry was negatively impacted by recent government policies. The new government is taking steps to boost the industry through measures like eliminating export taxes and restrictions.
- Production and exports are expected to increase over 50% as a result. Slaughterhouse capacity remains underutilized despite some consolidation in the industry in recent years.
- The economic changes make M&A activity likely to pick up as companies seek capital to invest in growth and exploit new opportunities, but foreign investors may wait for further governance consolidation under the new government.
As consumer awareness of foreign cuisines increases, Italian food, and pasta in particular is becoming extremely popular in India. The growing market offers significant opportunities for foreign manufacturers through the import route primarily because there are few domestic producers with quality products.
An overview indicates the market growth in volume and value as well as the largest trading partners. The report explains how changing tastes among the urban elite and upper middle class is impacting the industry. In contrast, government regulations and inconsistent supplies are challenges that the market needs to overcome in addition to growing awareness in a fairly large target demographic.
For foreign manufacturers, the two market entry options are explained, indicating the preferred route and rationale behind it. Additionally, the duty and tax structure along with estimated margins using for pasta imports give an indicator on price inflation. Further, applicable rules and packaging requirements are also given in brief.
This document provides an overview and highlights of Virgin Media's performance in the fourth quarter of 2006. It discusses the company's achievements over the last 12 months including the Telewest merger and Virgin Mobile acquisition. The fourth quarter saw revenue growth across all segments, strong net additions, and continued ARPU and customer care improvements. Priorities for 2007 include delivering on the new Virgin brand, targeting competitor customers, driving efficiency and improving customer care.
This document provides an overview of Virgin Media's performance in the fourth quarter of 2006. It discusses the company's achievements over the past year including the Telewest merger and Virgin Mobile acquisition. The highlights of Q4 2006 include revenue growth across all segments, strong broadband and TV subscriber additions, and increased triple play penetration. Priorities for 2007 include delivering on the new Virgin brand, targeting competitor customers, driving efficiency and improving customer care.
Virgin Media reported its financial results for the first quarter of 2007. Key highlights include:
1) Strong growth in broadband, TV and mobile contract customers due to compelling offers and marketing campaigns promoting bundled services. However, fixed line customers continued to decline due to increased competition.
2) ARPU was slightly down due to lower fixed line usage, but triple play penetration and Old NTL ARPU increased, pointing to continued ARPU growth.
3) Customer churn improved to 1.6% due to more rigorous credit policies and efficient sales channels, while Sky basics had a minimal impact in Q1.
4) Mobile contract growth remained strong through cable cross-sell, while pre-pay declined season
This document summarizes Virgin Media's performance in the first quarter of 2007. It discusses Virgin Media's progress on key priorities such as brand strength, targeting competitors, cable integration, and cross-sell opportunities. Financial metrics like revenue, customer additions and disconnects, and ARPU are also reviewed. Challenges from increased competition and the impact of Sky's new "Basics" package are addressed.
This document provides a summary of Virgin Media's financial performance in the second quarter of 2007. It discusses declines in revenue due to customer churn related to the loss of Sky basics channels, but notes improving trends in areas like TV and broadband. Key points highlighted include strong growth in video on demand usage, successful bundling of products, expansion of high speed broadband services, and continued strength in the mobile business. The summary also previews upcoming content initiatives and their potential to further drive customer growth and engagement.
This document summarizes Virgin Media's financial performance in the second quarter of 2007. Key points include: losses of Sky basic channels impacted customer churn but TV performance was better than expected; strong mobile contract sales and bundling of products continued; and while ARPU was affected by retention activities, cash flow outlook remains strong. The document provides details on customer additions and disconnects, growth of triple play bundling, and increases in video on demand usage.
This document provides a summary of Virgin Media's financial results for the third quarter of 2007. It notes significant improvements in customer and revenue growth metrics compared to previous quarters. Revenue was up slightly from the second quarter due to growth in the consumer, business services, content, and mobile segments. Operating cash flow also increased due to lower costs and certain one-time benefits. However, proactive investment in customer growth was also noted as impacting operating cash flow. Net debt remained substantial as of the end of the third quarter.
This document provides a summary of Virgin Media's financial results for the third quarter of 2007. It discusses improvements in customer and revenue growth metrics compared to previous quarters. Specifically, it notes record quarterly gross additions and reduced churn. It also summarizes growth in the company's broadband, TV, telephony, mobile, and business services segments. The document concludes with discussions of operating cash flow, revenue, and net debt levels.
The document summarizes an UBS media conference by Acting CEO Neil Berkett of Virgin Media on December 5, 2007. Berkett discussed Virgin Media's transformation through integration, re-engineering growth initiatives. He highlighted opportunities in premium TV, basic pay-TV, free DTV and contract mobile. Berkett also outlined Virgin Media's network advantages in speed and reach, and strategies to increase customer value through volume, ARPU and tenure. Mobile was discussed as an important driver of consumer value through cross-selling. Valuable tax assets were also noted.
The document summarizes an UBS media conference by Acting CEO Neil Berkett of Virgin Media on December 5, 2007. Berkett discussed Virgin Media's transformation through integration, re-engineering growth initiatives, and building the platform for growth. He highlighted opportunities in premium TV, basic pay-TV, free DTV, broadband, and mobile services. Berkett also covered Virgin Media's network advantages, content assets, tax assets, and the significant potential asset value of the company's network, consumer base, mobile business, and content.
This document provides a summary of Virgin Media's financial and operational results for the first quarter of 2008. Key highlights include continued strong growth in broadband and TV customers, record-low cable churn of 1.2%, and stable cable ARPU despite non-recurring benefits in the previous quarter. OCF increased slightly compared to last quarter. Capex remained high at 13.7% of revenue to support network upgrades including faster broadband speeds. Revenue declined slightly due to seasonal factors in certain business units.
This document summarizes Virgin Media's financial and operational results for the first quarter of 2008. Key highlights include continued strong growth in broadband and TV customers, record-low cable churn of 1.2%, and stable cable ARPU despite non-recurring benefits in the previous quarter. OCF was £324 million for Q1 2008, up slightly from the previous quarter. Cash capex was £125 million for network upgrades and expansion.
This document provides a summary of Virgin Media's performance in the second quarter of 2008. It discusses financial results including operating cash flow growth and SG&A reductions. It also reviews operational metrics such as subscriber growth, churn rates, broadband and TV services. Virgin Media saw increased revenue and profitability in Q2 2008 compared to the same period last year.
This document provides a summary of Virgin Media's performance in the second quarter of 2008. It discusses financial results including operating cash flow growth and SG&A reductions. It also reviews operational metrics such as subscriber growth, churn rates, broadband and TV services. Virgin Media saw increased revenue and profitability in Q2 2008 compared to the prior year through lower churn, higher triple-play penetration and a focus on quality customer growth. The company believes its cable network gives it advantages over DSL providers that will increase further after investments are completed.
This document provides a summary of Virgin Media's financial results for the third quarter of 2008. It reports that Virgin Media continued to see growth in key metrics such as on-net customer additions, broadband and TV subscriber growth, and improving triple play penetration. ARPU increased through price increases, cross-selling, and upselling efforts. Mobile contract customer growth was strong through cross-selling to cable customers. Content revenues increased for VMtv but declined for Sit-Up. Overall revenue was flat, while operating cash flow and margins declined slightly compared to last year. Capital expenditures remained high to continue network upgrades and expand service offerings.
This document provides a summary of Virgin Media's financial results for the third quarter of 2008. It reports that Virgin Media continued to see growth in key metrics such as on-net customer additions, broadband and TV subscriber growth, and improving triple play penetration. ARPU increased through price increases, cross-selling, and upselling efforts. Mobile contract customer growth was strong through cross-selling to cable customers. Content revenue increased for VMtv but declined for Sit-Up. Overall revenue was flat, while operating cash flow and margins declined slightly compared to last year. Capital expenditures remained high to continue network investments.
The document discusses Virgin Media's strategy to leverage its network advantages for renewed growth. Key points include plans to: 1) lead in next generation broadband through upgrades to 10Mbps and beyond; 2) lead the on-demand TV revolution through growing video on demand usage and iPlayer views; and 3) leverage mobile as a third screen through bundling mobile services. Virgin Media also aims to build a more efficient customer focused organization through an operational transformation program targeting over £120m in annual cost savings by 2012.
The document discusses Virgin Media's strategy to leverage its network advantages for renewed growth. It aims to lead in next generation broadband, lead the on-demand TV revolution, and leverage mobile as a third screen. Virgin Media has the best broadband economics due to its high market share and lower costs. It is focusing on upgrading customers to higher broadband tiers, growing on-demand TV and video usage, and integrating mobile offerings. The company expects operational transformation to deliver over £120 million in annual cost savings by 2012.
The document provides an agenda and overview for an investor and analyst day being held by Virgin Media in London on November 13, 2008. It includes:
1) A disclaimer stating that forward-looking statements in the document involve risks and uncertainties that could cause actual results to differ materially.
2) An agenda for the day's presentations on Virgin Media's strategy, growth initiatives, network strengths, financial structure and regulatory progress.
3) Introductions of the senior management team who will be presenting.
The document provides an agenda and overview for an investor and analyst day being held by Virgin Media in London on November 13, 2008. It includes:
1) A disclaimer stating that forward-looking statements in the document involve risks and uncertainties that could cause actual results to differ materially.
2) An agenda for the day's presentations on Virgin Media's strategy, growth initiatives, network strengths, financial structure and regulatory progress.
3) Biographies and photos of Virgin Media's management team, including the CEO and heads of key business units.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
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Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
3. Non-GAAP Financial Information
This presentation may use the non-GAAP financial measures of “free cash flow,” earnings per share (EPS) on an
ongoing basis and Return on Capital (ROC). We define free cash flow as the total of cash flows from operating
activities and investing activities. A non-GAAP EPS financial measure, which we refer to as ongoing EPS, excludes
certain after-tax items that we do not consider part of ongoing operations, which are identified in the reconciliation.
ROC means net income (without the effect of certain items) exclusive of after-tax interest expenses, divided by the
average of the beginning year and ending year net capital employed, as defined in the reconciliation. Our
presentation of non-GAAP financial measures is intended to supplement investors’ understanding of our operating
performance, not replace net income (loss), cash flows, financial position, or comprehensive income (loss), as
determined in accordance with GAAP. Furthermore, these non-GAAP financial measures may not be comparable to
similar measures used by other companies. The non-GAAP financial measures used in this presentation are
reconciled to the most directly comparable financial measures calculated and presented in accordance with GAAP.
FISCAL YEAR:
References to year, or to fiscal year, are on a fiscal year basis and refer to the 12-month period ending August 31.
4. OVERVIEW
Market Forces Are Changing Supply-Demand Patterns
Globally, Creating a New Dynamic Across Agriculture
EMERGENCE OF DEMAND-DRIVEN AGRICULTURE: STATE OF AGRICULTURE:
NEW DEMAND AND PRODUCTION TRENDS The New Demand Environment
FACTORS:
Growing wealth
Expanding ethanol ► INCREASING PROTEIN
and population in
and export
DEMAND
Asia creates new
demands favor U.S.
demand for
as low-cost corn Wealth drives meat
imported grain
producer
consumption – changing
feed demand
► ASCENSION OF CHINA
China’s growth is reaching
limits of domestic
production, driving huge
changes in export
environment
Brazil exploits land
Argentina ► ESTABLISHMENT OF
availability advantage
leverages to become BIOFUELS
geographic commodity soy
proximity to Assuming only base-case
producer to meet
supply corn to demand from China adoption of biofuels, more
Latin America
corn and soy needed in next
decade
4
6. OVERVIEW
China Is Changing the Global Grain Landscape, Emerging as
a Major Soybean Importer
STATE OF AGRICULTURE:
CHINA’S GROWING SOYBEAN DEMAND:
Emergence of China
DOMESTIC PRODUCTION AND IMPORTS1
China’s 2008 soybean imports
60,000
would be equivalent to:
MILLION METRIC TONS
40%
50,000
Of annual U.S.
40,000 soy
production
30,000
OR
20,000
60%
Of annual Brazil
10,000
soy production
0
OR
2000 2001 2002 2003 2004 2005 2006 2007 2008F 2009F
75%
Production Imports
Of annual
Argentina soy
In 2008, forecasts are for
production
China to import >33MMT of
soybeans
1. ProExporter
6
7. OVERVIEW
Even at Base Case, Biofuels Still Create New Demand Pull
on Corn and Soybean Production
STATE OF AGRICULTURE: STATE OF AGRICULTURE:
Corn for Ethanol Soybeans for Biodiesel
U.S. SOYBEANS USED FOR BIODIESEL:
U.S. CORN CROP USED FOR ETHANOL:
OUTLOOK TO 20122
PERCENT OF TOTAL CROP PRODUCTION1
Soybean Acres: With RFS and No Biofuel Tax
40%
Credit Extension
35%
12
30%
10
25%
SOYBEAN ACRES
8
20%
6
15%
>100% increase in
4
10% acres devoted to
biodiesel
2
5%
0
0%
2006 2007 2008F 2009F 2010F 2011F 2012F
2000 2002 2004 2006 2008F 2010F 2012F
► The Food and Agricultural Policy Research
► Recent Renewable Fuels Standard (RFS)
Institute (FAPRI) looked at five cases –
increases renewable fuels requirement
applying RFS and tax credits – and
30%+ from 2008 to 2012
forecast as many as 11M acres of U.S. soy
► By 2008, >30% of U.S. corn will be used for
needed for biofuels by 2012, or >15% of
ethanol production
total
1. ProExporter; 2. Food and Agricultural Policy Research Institute (FAPRI) Estimates
7
8. OVERVIEW
Feed and Fuel Demand Is Increasing; Only Time-Effective
Solution Is Increasing Productivity Per Acre
STATE OF AGRICULTURE:
STRETCHING SUPPLY – ENDING STOCKS: Monsanto’s Advantages
WORLD SUPPLY AND USE FOR TOTAL GRAINS1
Demand Requires Yield
600 30% MARKET
CUSTOMER
METRIC TONS (IN MILLIONS)
25%
500
Farmers Buy Yield
400 20%
Monsanto is a technology
15%
300
company in an industry
historically starved for
200 10%
breakthrough innovation
5%
100
Innovation:
► Creates new value through
0 0%
breakthrough products
2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07
► Creates new markets that
ENDING STOCKS AS A
ENDING STOCKS
didn’t exist before our
PERCENT OF TOTAL USE
products
Annual grain carryover is
Monsanto grows because of
declining – even at a period of
what we do, not what the
historic production levels
commodity cycles do
1. USDA World Agricultural Supply and Demand Estimates
8
9. SEED & TRAIT STRATEGY
At Farm Level, Production Decisions Reflect Cost-Benefit
Analysis
BREAK-EVEN ANALYSIS: STATE OF AGRICULTURE:
ILLINOIS CORN FARMER’S TRADE-OFF CORN-TO-SOYBEANS1
Farmer Production Decisions
► Break-even analysis for
farmer in Central Illinois
indicates the soy price
needed to induce switch is
CURRENT SOYBEAN PRICE/BU
2.5X current corn price
► Even at ~$13 soybeans,
returns still favor devoting
acres to corn
BREAK-EVEN RATIOS
CORN-TO-SOY: 1:2.5
CURRENT
CORN PRICE/BU
1. Analysis based on data published by University of Illinois, Department of Agricultural and Consumer Economics (http://www.farmdoc.uiuc.edu/manage/crop_budgets.pdf)
9
10. SEED & TRAIT STRATEGY
Monsanto Has Portfolio Balance That Carries Between Crops
When Acres Switch Year-to-Year
PORTFOLIO BALANCE: STATE OF AGRICULTURE:
INDEXED GROSS PROFIT FOR MONSANTO-BRANDED CROP OFFERINGS
Portfolio Balance
1.2
► In 2008, for every 1 million
1.00 acres that shift from
1 0.94
soybeans to either corn or
cotton, on average, there is
0.8
an estimated $0.01 EPS gain
► With brands in corn, cotton
0.6
0.47 and soybeans, Monsanto is
positioned to meet demand
0.4
regardless of crop planting
patterns in any given year
0.2
0
CORN COTTON SOYBEANS
2008 U.S. TRAIT
1.6 1.4 0.94
PENETRATION –
ALL CHANNELS
10
11. SEED & TRAIT STRATEGY
Monsanto’s Pricing Model Aimed at Value of Yield Created;
Shared With Farmer
EXAMPLE : LOW-PRICE ENVIRONMENT EXAMPLE : HIGH-PRICE ENVIRONMENT
Farmer Value Proposition On Triple Stack at Farmer Value Proposition On Triple Stack at
$2.50 Corn Prices $4.50 Corn Prices
VALUE CREATION VALUE CREATION
15-20 bu/ac 15-20 bu/ac
Improved Yield1 Improved Yield1
$2.50/bu $4.50/bu
Commodity Price: Commodity Price:
$37-$50 $67-$90
Value: Value:
$5 $5
Indirect Benefits2 Indirect Benefits2
$42-$55 $72-$95
Incremental Value Created Incremental Value Created
PRICING APPROACH PRICING APPROACH
$28-$36 $28-$36
Per-Acre Trait Cost3 Per-Acre Trait Cost3
($17) ($17)
– Cost of Replacements4 – Cost of Replacements4
$16-$19 $16-$19
Incremental Farmer Cost Incremental Farmer Cost
With $2.50 corn, about 50% of the incremental
yield value created is shared with the farmer;
With $4.50 corn, about two-thirds of that value
accrues to the farmer
1. Monsanto estimates, based on better insect and weed control over conventional options
2. Monsanto estimates, based on farmer surveys quantifying benefits such as convenience and peace of mind
3. Retail price range for YieldGard VT Triple in 2008, at normal seeding rates
4. Subtracts costs farmers would have spent had they not used a trait package
11
12. SEED & TRAIT STRATEGY
Performance Acceleration in DEKALB Powers Share Gains
YIELD ADVANTAGE: STATE OF AGRICULTURE:
YIELD ADVANTAGE AND DEKALB SHARE TRENDS
Farmers Buy Yield
220 Farmer’s consistently cite
DEKALB Yield Performance
DEKALB ADVANTAGE
“yield” as largest driver for
IN 110-RM (BU/AC)
210 Competitive Yield
Performance purchasing DEKALB seed
200
► In 2007, >14,000
190
comparisons show
180 Monsanto germplasm
outyields competitive best
170
by 8.4 bu/ac1
160
► In 110-RM, Monsanto’s lead
2001 2002 2003 2004 2005 2006 2007
remains a strong 12 bu/ac
advantage1
DEKALB Share 2008 GROWTH TARGETS
DEKALB SHARE
2-3 Share Points
DEKALB
ASI 1-2 Share Points
1. 2007 Monsanto and third party trials through November
15, 2007. Weighted average, calculated to 15% moisture.
DEKALB products are compared with national competitive
products that contain similar crop protection traits.
12
13. SEED & TRAIT STRATEGY
With Added Trait Protection, Strong Growth Opportunity
Remains For U.S. Corn
U.S. CORN TRAIT OPPORTUNITY: 2005-2010F
220 60
U.S. TRIPLE-STACK ACRES
200
U.S. TRAIT ACRES
50
180
(IN MILLIONS)
(IN MILLIONS)
160
40
140
120
30
100
80
20
60
40 10
20
CATALYSTS OF
0 0
2010 TRIPLE STACK
2007 2008F
2005 2006 2007 2008 2010F
Opportunity
GROWTH
Rootworm Control 45-55M
20.8M 26-28M
Channel Triple
Corn Borer Control Penetration
60-70M
42.4M 40-42M
Glyphosate Tolerance DEKALB Supply
80M
57.9M 63-65M
Guarantee
Triple Stack 17.6M 25-27M 45-55M
Yield Insurance
Trait acres reflect the total acres planted with each individual trait. In the case of stacked traits, each absolute
acre will be reflected by two or more trait acres.
Program
Source: “Monsanto Biotechnology Trait Acreage” available through: monsanto.com/investors/
13
14. SEED & TRAIT STRATEGY
With Roundup Ready 2 Yield Soybeans, Yield Also Becomes
Focus of Next Wave of Commercial Products
ROUNDUP READY 2 YIELD SOYBEANS: STATE OF AGRICULTURE:
SECOND-GENERATION WEED CONTROL FIELD RESULTS
A New Soybean Platform
Near-Isoline Comparisons:
Roundup Ready 2 Yield vs. Roundup Ready
% Yield Increase over Roundup Ready
12%
HIGHER-YIELDING
DICAMBA-TOLERANT
11%
10%
9% VISTIVE III
ROUNDUP READY 2 YIELD
9%
8%
7% 7%
6% ► Roundup Ready 2 Yield
becomes the platform for
4% soybean traits
► Three soybean pipeline
2% traits advanced to Phase 3
commercial development in
0% recent R&D update
4 YEAR
2004 2005 2006 2007 AVERAGE
Roundup Ready 2 Yield soybeans yield 7 to 11 percent higher
than Roundup Ready soybeans based on 73 Monsanto field
trials from 2004-2007
14
15. SEED & TRAIT STRATEGY
Like Roundup RReady 2 Yield Soybeans, SmartStax Corn
Reset the Trait Platform for Corn
SmartStax Value: On-Farm Commercial Preparation: Field Data Generation
+ Increased Yield (per-acre and on-farm) YEAR 1 YEAR 2 YEAR 3 FORWARD
YIELD
YIELD COMPONENT 2006 2008+
BENEFIT1
Focus: Focus: SmartStax
PER-ACRE
Feasibility of full bred into elite
Improved consistency: 1-2% trait integration germplasm; yield
Primary pests data generation
Improved protection: 1-2%
Secondary pests Field Testing: 2007
ON-FARM Testing focused on trait
performance, such as
Reduced refuge 3-6%
consistency of control of
Flexibility to move to one technology targeted pests
+
platform on-farm
Initial 2007 Results
+ Durability
• Indicates superior
Flexibility to increase planting
rootworm consistency
+
populations
versus triple-stack
+ Platform for future traits standard
TRIALS: 56
• Good control of
+ Access to superior seed
STATES: 12 secondary pests
Total SmartStax Value
=
1. Yield benefit reflects expected yield benefit above triple-stack standard, on a
per-acre and whole-farm basis as noted. Ranges may overlap
15
16. SEED & TRAIT STRATEGY
Entire Monsanto Pipeline Is Targeted Toward Meeting
Emerging Trends Over Next Decade
BIOTECH TRAIT PIPELINE: JANUARY 2008 UPDATE
PHASE PHASE PHASE PHASE
PHASE PHASE PHASE PHASE
D
D 1 2 3 4
1 2 3 4
AGRONOMIC TRAITS
YIELD AND STRESS PIPELINE
ROUNDUP READY 2 YIELD SOYBEANS
DROUGHT-TOLERANT CORN
FAMILY
YIELDGARD VT PRO
2ND-GEN YIELDGARD CORN BORER
DROUGHT-TOLERANT CORN
SMARTSTAX CORN
2ND-GEN DROUGHT-TOLERANT CORN
DICAMBA-TOLERANT SOYBEANS
NITROGEN-UTILIZATION CORN
FAMILY INSECT-PROTECTED + ROUNDUP
READY 2 YIELD SOYBEANS
NITROGEN-UTILIZATION CORN
BOLLGARD III
BROAD-ACRE HIGHER-YIELDING
CORN FAMILY SOYBEAN NEMATODE-RESISTANCE
HIGHER-YIELDING CORN SOYBEAN DISEASE
BROAD-ACRE HIGHER-YIELDING DICAMBA-TOLERANT COTTON
SOYBEAN FAMILY
COTTON LYGUS CONTROL
HIGHER-YIELDING SOYBEANS
YIELDGARD ROOTWORM III
2ND-GEN HIGHER-YIELDING
SOYBEANS
VALUE-ADDED TRAITS
DROUGHT-TOLERANT COTTON
FAMILY
DROUGHT-TOLERANT COTTON EXTRAX™ CORN PROCESSING
SYSTEM + MAVERA™ HIGH-VALUE
CORN WITH LYSINE2
BROAD-ACRE HIGHER-YIELDING
CANOLA FAMILY
HIGH-OIL SOYBEANS
HIGHER-YIELDING + ROUNDUP
READY 2 YIELD CANOLA1 2ND-GEN HIGH-OIL SOYBEANS
OMEGA-3 ENRICHED SOYBEANS
VISTIVE III SOYBEANS
High Impact Technologies (HIT) project
HIGH-STEARATE SOYBEANS
Jan. 3, 2008 Advancements/Additions (VIA BIOTECH)
The colored bar associated with each project indicates which phase that project is in. It is HIGH-OIL CORN
not intended to represent the relative status of the project within a particular stage.
1. For higher-yielding + Roundup Ready 2 Yield canola, only the value of the higher-yielding trait is incorporated into the Yield and Stress collaboration with BASF
2. Value of licensing the EXTRAX™ technology is shared with Cargill as a part of Renessen joint venture
17. SEED & TRAIT STRATEGY
Projects Like Nitrogen-Utilization Corn Are Positioned to Drive
Yield and Meet Demand In New Environment
PER-ACRE NITROGEN COST STATE OF AGRICULTURE:
FOR CORN PRODUCTION, IN ILLINOIS: 1990-20071 Breakthroughs in Nitrogen-Use Research
Under normal nitrogen conditions, lead Nitrogen-
$80
Utilization trait has demonstrated yield advantages
$75
in multiple backgrounds over multiple years
$70
12
*
Yield Increase (bu/Ac)
$65
** ***
*
10
$60 8
6
$55
4
2
$50
0
$45
-2 TRIALS IN
TRIALS IN
1990 1992 1994 1996 1998 2000 2002 2004 2006
MULTIPLE
MULTIPLE
HYBRID
HYBRID
Nitrogen accounts for approximately one-fifth of BACKGROUNDS
BACKGROUNDS
the operating costs for a corn producer2 (15 LOC)
(16 LOC)
Nitrogen-Utilization corn offers the potential to
bring the value of nitrogen into the seed: 2005 2006 2007
Reducing farmers’ exposure to nitrogen
•
*
price volatility Statistically significant @ p≤0.10
Boosting yield
• Bar color correlates with the specific hybrid background tested.
Improving ease of use, flexibility Same bar color in different tests and different years indicates same
•
hybrid was used.
All trials conducted under sufficient nitrogen application levels.
1. Illinois Farm Business Farm Management
2. USDA
17
18. SEED & TRAIT STRATEGY
Strong Cash Position Creates Opportunity to Bolster Strategic
Position and Drive Differentiation Through Innovation
INVESTMENT OPPORTUNITY
In an expanding agriculture environment, value is defined by scarcity or
innovation – Monsanto’s strategy is targeted on innovation: discovering and
developing technology that is game-changing
CATEGORY HISTORICAL EXAMPLES OUTLOOK
► Delta and Pine Land • ASI acquisition phase
Intensify The Space
largely finished
► American Seeds, Inc.
Strengthen position of the core • Continued opportunity
(ASI) Companies for add-on international
business, largely by building the
► Agroeste (Brazil) corn and vegetable
germplasm footprint of seeds
companies
► Seminis • Continually looking for
Expand The Space
areas where Monsanto
can apply core
Expansion to adjacent spaces –
technology quickly or
where core technology can be applied
benefit for advanced
quickly and with transformational research
benefits
► Yield and Stress R&D • Most highly
Redefine The Space
transformational, but
Collaboration with
rarest to find appropriate
Investments that rewrite the BASF
fit
landscape, providing new avenues, ► SmartStax agreement
new technologies and creating new with Dow
markets
► Global Seed Treatment
Alliances
18
19. SEED & TRAIT STRATEGY
Global Seed Treatment Alliance Creates New, But
Complementary Opportunity In Creating and Protecting Yield
GLOBAL SEED TREATMENT INDUSTRY OVERVIEW
STATE OF AGRICULTURE:
KEY INDUSTRY DATA1
Seed Treatment Alliances
Monsanto entered a series of ROW
Asia
separate alliances with • Global seed treatment sector: >$1.5B
U.S.
leading global seed-treatment annually, with $800-$900M in the crops
that are key to Monsanto’s business
suppliers to create a platform
• Sector CAGR of 10-12%
to launch proprietary seed Canada
• Widespread use of biotech traits
treatments launched in Latin increases the use and value of seed
Europe
parallel with our future core- America treatments
crop technologies
BENEFITS:
► Complement to established PROJECTED COMMERCIAL DEVELOPMENT TIMELINE
seed-and-trait strategy of 2008 2009 2010 2011
creating and preserving
Alliance
yield
platform
2009 2010
► Monsanto in-licenses 2011
established Launch Proprietary Seed
active ingredients and and activated proprietary seed treatment treatments
leverages its existing coatings with in place for expand into
formulation technology cotton, on
Roundup SmartStax
commercial newest Delta
Ready 2 Yield,
capabilities for proprietary
aimed at launch and Pine Land
treatments incremental varieties
yield boost in
► Strong margin opportunity
soybeans
1. Phillips McDougall and Monsanto Estimates
19
20. SUMMARY
Given Growth Opportunities, Monsanto Has Potential to
Double Gross Profit Over the Next Five Years
2012 GROWTH RANGE
MONSANTO GROSS PROFIT
GROWTH TARGET Gross profit targeted to double
from 2007 through 2012
$9,000
STRATEGIC PLAYBOOK
$8,000
All growth is organic, from
$7,000 base business and pipeline
GROSS PROFIT
(IN MILLIONS)
U.S. Corn
$6,000
International Corn
$5,000 Soybeans
Cotton
$4,000
Seminis
R&D Pipeline
$3,000
Acquisitions to be pursued,
$2,000
but are not included in this
$1,000 growth projection
$0 Earnings continue to translate
into operating cash, and value
2004 2007 2012
MILESTONES
created for shareowners
FEBRUARY 2008 through combination of
Monsanto increases acquisitions, share
FY2008 Ongoing EPS repurchases and dividends
guidance to $2.70-$2.80
from $2.50-$2.60
21. Reconciliation of Non-GAAP Financial Measures
Reconciliation of Free Cash Flow
Fiscal Year
2008
Target
$ Millions
Net Cash Provided (Required) by Operations $1,950 - $2,050
Net Cash Provided (Required) by Investing Activities (1,050)
Free Cash Flow $900 - $1,000
Net Cash Provided (Required) by Financing Activities N/A
Effect of Exchange Rate Changes on Cash and Cash Equivalents N/A
Net Increase (Decrease) in Cash and Cash Equivalents N/A