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BAYRY vs. NVO: Which Stock Is the Better Value Option?
Bayer AG's agriculture unit in Brazil expects that its new genetically modified (GM) soybean Intacta2 Xtend will account for about 10% of the country's total soy planting area in the 2022/23 harvest, the firm told Reuters. The Intacta2 Xtend soybean, which tolerates the Dicamba herbicide and is resistant to insects, could be sowed in an area of around 4.3 million hectares (10.6 million acres) in 2022/23, compared with 243,000 hectares in the previous crop-year. The expected expansion of the third generation soybean seed technology will follow after the seed was "tried and tested over the past two years in more than 500 areas across Brazil," ensuring high yields, with dozens of producers recording averages of 100 60kg-bags per hectare, according to Bayer.