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According to Corteva Agriscience's financial director, Dave Anderson, the idea is to reduce planned expenses and implement measures to protect the company's margins in the face of rising raw material costs. “We don’t believe that (inflation) is decreasing,” said Anderson at the North American company’s annual investor meeting, held last Tuesday, September 13.
The increase in inflation that affects even the most developed countries in the world this year, reaching the highest levels of the last four decades. According to the Corteva Agriscience executive, even if cost pressure decreases next year in relation to the levels seen in 2022, the increase in prices will still be significant.
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Corteva's plan will be to serve around 110 markets, which represent 95% of the agrochemicals and seeds giant's revenue. Among these, the company will focus on 20 countries considered strategic, including Brazil, Canada, the United States, Western Europe and India.
With this reorganization, Anderson detailed, it is expected to save more than US$ 200 million by 2025. Corteva Agriscience projects net sales between US$ 19.5 billion to US$ 20.5 billion in the same period, with around 8% of this will be invested in research and development.
By: Leonardo Gottems | agrolink
