How the group intends to expand its global market leadership

Dusseldorf Despite the sharp price declines for the top product glyphosate, Bayer promises further growth in the agricultural business and is aiming for a record return for 2024. “We will expand our global market leadership over the next few years,” announced Bayer Chief Agricultural Officer Rodrigo Santos in an interview with Handelsblatt.

Born in Brazil, he has been leading Bayer’s largest division for a year, into which Monsanto’s businesses were integrated in 2018. He sees innovative products such as more weather-resistant corn plants and new biotechnically developed crop protection systems as drivers. Santos explains that the research pipeline contains applications that are expected to generate sales of up to 30 billion euros in around 15 years.

Around half of these will be completely new products, with the remainder being intended to replace previous revenue generators. In practical terms, this could mean that Bayer Crop Science will have sales of 40 billion euros by the end of the next decade.