Dubbed the Canada Corn Expansion Project, the long-range plan will focus on breeding corn hybrids with earlier relative maturities that are adapted to climatic conditions found across 26 million acres in Western Canada, according to a statement from the company.
The project could result in an estimated annual western corn market of eight to 10 million acres by 2025, up significantly from the current annual western Canadian corn acreage of around 300,000 to 500,000 acres, according to the statement.
“Increasing our investment in Western Canada is consistent with our mission to help farmers produce more, conserve more and improve lives by continually and consistently delivering new, higher-value crop innovations that improve farm profitability,” Mike Nailor, corn and soybean lead for Canada, said in a statement. “We also see the potential for this work to bring significant economic growth to western Canadian agriculture.”
Monsanto plans to produce more yields through a sustained breeding effort, extensive field testing and agronomic training for farmers and others within the agriculture industry.
The increased investment more than doubles the company’s previous breeding and testing budget dedicated to corn hybrids, according to the statement.
Headquartered in Winnipeg, Manitoba, Monsanto Canada Inc. is part of Monsanto Co., which is based in Creve Coeur and reported $13.5 billion in revenue for fiscal 2012.