AgroPages-Monsanto reaffirms goal to double profit by 2012-Agricultural news

Monsanto Co., the worlds biggest seed maker, on Tuesday reaffirmed its goal to double its gross profit in 2012 from 2007 levels, driven by expected strong demand.

CEO Hugh Grant will say later at the Credit Suisse 22nd Annual Chemical and Ag Science Conference that its newest corn and soybean seeds are expected to drive one-third of gross profit growth in 2012. He will say, "As a result of delivering benefits on the farm and to our many seed company licensees, we expect our U.S. seed business alone to generate more gross profit in 2012 than our entire seed portfolio did around the world in 2009."

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Monsanto reaffirms goal to double profit by 2012

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