Monsanto buys maize seed firm
Monsanto has acquired Brazilian maize seed company, Agroeste Sementes (Xanxere), for just over $100 million. The acquisition covers 100% of Agroeste's businesses including its maize seed brands. Agroeste supplies farmers throughout Brazil and its seed is used on about 10% of the country's maize area, Monsanto says. Monsanto's maize seed holds around a 30% share and is sold in Brazil through the DeKalb and Agroceres brands. The Brazilian hybrid maize seed market is currently 23 million acres (9.3 million ha), Monsanto estimates.