Corteva Agriscience Launches Conkesta E3® Soybeans in Brazil
Corteva has announced the launch of Conkesta E3® soybeans in Brazil for the 2021-2022 season, enhancing its product lineup within the Enlist® weed control system. This new soybean technology aims to provide broad lepidopteran insect protection and drive growth in the lucrative Brazilian soybean market. The product has received approval for export to the European Union, allowing for international distribution. Corteva plans to introduce this innovation in Argentina and Uruguay pending regulatory approvals.
- Launch of Conkesta E3® soybeans in Brazil expected to enhance product offerings and drive growth.
- Technology provides broad lepidopteran insect protection, increasing productivity for Brazilian farmers.
- Product authorized for export to European markets, expanding international sales opportunities.
- None.
WILMINGTON, Del., Aug. 24, 2021 /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) today announces the launch of Conkesta E3® soybeans to the Brazilian market, following key product launch decisions and consistent with Corteva Agriscience's product launch policy. This leading technology is part of the Enlist® weed control system that also includes Enlist E3® soybeans, which recently launched in the country. Conkesta E3® soybeans will be available to Brazilian farmers in the remaining 2021-2022 season.
An important innovation for farmers in Latin America, Conkesta E3® soybeans incorporate broad lepidopteran insect protection in strong genetics as part of the Enlist® weed control system, which offers maximum flexibility and superior control of broadleaf weeds and grasses. Through the introduction of this proprietary technology, Corteva expects to expand its position in the attractive Latin America soybean market. Corteva expects this technology to drive steady, incremental growth looking further ahead.
"This milestone is yet another clear example of the execution on Corteva's strategy, and points to the value our balanced and geographically diverse product pipeline continues to deliver for our customers," said Jim Collins, Chief Executive Officer of Corteva Agriscience. Collins continued, "We continue to see solid demand for our Enlist® technology in North America, and we are pleased to bring this crucial, proprietary solution to Brazilian growers — an action that further strengthens our offering in Latin America."
Conkesta E3® soybeans recently received authorization by the European Union Commission, which enables grain produced from Conkesta E3® soybeans grown in Brazil to be exported to the European market for food and feed use. The technology has been previously authorized in several other export markets, including China. The Company remains on track for a future launch in Argentina and Uruguay, pending applicable regulatory reviews and market readiness in line with Corteva's product launch policy and Excellence Through Stewardship product launch guidance, among other factors.
"We are very pleased to announce the launch of Conkesta E3® soybeans in Brazil. It combines high-performance genetics with efficient management of weeds and caterpillars, expanding Brazilian growers' productivity potential," said Alejandro Muñoz, President of Corteva Agriscience for Latin America.
Conkesta E3® soybeans are tolerant to Enlist® Colex-D® and Enlist Duo® Colex-D® herbicides — both contain 2,4-D choline with Colex-D® technology that provides near-zero volatility and reduced drift potential — and also are tolerant to glyphosate and glufosinate herbicides. Conkesta E3® soybeans additionally incorporate two Bt proteins (Cry1F and Cry1Ac) for the management of the main caterpillar pests in soybean crops, a tailored option for farmers in Latin America.
Conkesta E3® soybeans will be available for the remaining 2021-2022 season through two of Corteva's global brands: Brevant® seeds, which provides premium seed to retail customers, and the regional genetic licensing business brand in Brazil, Cordius®, Licensing Division of Corteva Agriscience. In the 2022-2023 season, the trait also will be available through the Pioneer® brand, Corteva's global flagship seed brand with an industry-leading, unique product portfolio and agency route-to-market approach.
The Enlist® weed control system is a solid proof point of the Company's integrated portfolio. It delivers innovation in seed, chemistry formulations and stewardship, while providing much-needed solutions that address complex challenges such as insect resistance.
"The launch of Conkesta E3® soybeans in Brazil is great news for Brazilian soybean growers," said Joseph Merschman, president of M.S. Technologies, L.L.C., which jointly developed and owns the product's transgenic event with Corteva Agriscience. "We are pleased that this new trait will also be out-licensed through numerous multipliers that are currently responsible for the majority of the soybean seeds sold in the Brazilian market," Merschman continued. "This will provide farmers with a range of germplasm options for this innovative trait."
About Corteva
Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry – including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the Company is committed to working with stakeholders throughout the food system as it fulfils its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva became an independent public company on June 1, 2019, and was previously the Agriculture Division of DowDuPont. More information can be found at www.corteva.com.
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Cautionary Statement About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which may be identified by their use of words like "plans," "expects," "will," "anticipates," "believes," "intends," "projects," "targets," "estimates" or other words of similar meaning. All statements that address expectations or projections about the future, including statements about Corteva's strategy for growth, cash flow, product development, regulatory approval, market position, anticipated benefits of recent acquisitions, timing of anticipated benefits from restructuring actions, outcome of contingencies, such as litigation and environmental matters, expenditures, and financial results, as well as expected benefits from, the separation of Corteva from DowDuPont, are forward-looking statements.
Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond Corteva's control. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Corteva's business, results of operations and financial condition. Additionally, there may be other risks and uncertainties that Corteva is unable to currently identify or that Corteva does not currently expect to have a material impact on its business.
Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of Corteva's management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. Corteva disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in Corteva's Annual Report on Form 10-K for the Period Ended December 31, 2020 filed with the U.S. Securities and Exchange Commission.
The transgenic soybean event in Enlist E3® and Conkesta E3 soybeans is jointly developed and owned by Corteva Agriscience and M.S. Technologies L.L.C. The Enlist® weed control system is owned and developed by Corteva Agriscience LLC. Enlist Duo® and Enlist® herbicides are not registered for sale or use in all states or counties. Contact your state pesticide regulatory agency to determine if a product is registered for sale or use in your area. Enlist Duo and Enlist are the only 2,4-D products authorized for use with Enlist crops. Consult Enlist herbicide labels for weed species controlled. Always read and follow label directions.
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